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GLOBAL RISKS REPORT 2022

GLOBAL RISKS REPORT 2022

Context:

On 11 January 2022, the World Economic Forum released the Global Risks Report 2022. Cybersecurity, pace advancements, climate change, and pandemic are the emerging risks to the global economy.

Key Findings:

  • The global economy will decline by 2.3% by 2024. However, this should be 5.5% in developing countries, and in rich countries, it will be 0.9%.
  • Cyberate attacks are increasingly aggressive and widespread, as criminals use sophisticated tactics to track down vulnerable victims.
  • Malware attacks and ransomware are rampant, while the proliferation of cryptocurrencies makes it easier for cybercriminals to hide the payments they have collected.
  • The decline in technology delivery costs has led to a new race for space between companies and the government.

 

Global Risks Report Series:

  • It tracks global risk perceptions between risk experts and global leaders in business, government, and civil society.
  • It assesses risk in all five categories: economic, environmental, political, social, and technological.

World Economic Forum:

  • It is an international non-governmental organization based in Geneva, Switzerland.
  • On 24 January 1971, it was founded by Klaus Schwab.
  • Its 1,000 member companies mostly fund it.
  • It is known for its annual meeting at the end of January in Davos

The conference brings together around 3,000 paying members and selected participants.

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