2021 the global risk report released | the world need to guard against the long-term risk

The pandemic is exacerbating the wealth gap and social divisions that will hamper economic development over the next 3-5 years and heighten geopolitical tensions over the next 5-10 years

At the same time, from the perspective of risk probability and impact in the next decade, environmental risk is still the primary issue

The gap in access to technology and digital skills between "haves" and "have-nots" threatens to widen the gap between rich and poor and undermine social cohesion. Young people around the world will bear the brunt, facing not only the second global crisis of their generation, but the prospect of missing out entirely on the opportunities of the next decade.

The financial, digital and reputational pressures placed on businesses by the coronavirus pandemic could leave many companies and their employees behind in future markets. These potential gaps could divide societies, and if middle powers lack a seat at the global table, geopolitical tensions will build, hampering the global recovery. ?

From the perspective of the probability and impact of risks in the next decade, environmental risks are still the primary issue. Social fragmentation, uncertainty and high levels of anxiety may further hamper the global cooperation needed to address ongoing environmental degradation. ?

For the first time, the report divides risk levels according to when respondents believe the risk will pose a serious threat to the world. Clear real risks (0-2 years) reveal concerns for lives and livelihoods, including infectious diseases, employment crises, digital inequality and disillusionment among young people. As for medium-term risks (3-5 years), respondents believe the world will be threatened by knock-on effects of economic and technological risks that may take several years to manifest, including bursting asset bubbles, collapsing IT infrastructure, price turbulence and debt crises. Existential threats (5-10 years) are long-term issues that require attention, such as weapons of mass destruction, state collapse, biodiversity loss, and adverse technological progress.

The report also reviews the COVID-19 response, drawing on lessons learned to enhance global resilience, including developing analytical frameworks, developing risk response leaders, building trust through clear and consistent communication, and developing new partnerships. The report makes sound recommendations on the main risks to help countries, companies and the international community act proactively rather than passively when faced with cross-risks. The report concludes with an overview of "frontier risks" -- nine high-impact but low-probability events identified through expert forward-looking projections, including geomagnetic disturbances, accidental warfare and the use of brain-computer interface technology.

"The acceleration of digital transformation will bring huge benefits, such as the creation of nearly 100 million new jobs by 2025. At the same time, however, are likely to be replaced by digital about 85 million jobs, because 60% of adults still lack basic digital skills, existing inequality may further intensified, "Peter Giger Zurich insurance group chief risk officer, said" the biggest long-term risk is still unable to action on climate change. There are no effective solutions to climate risks, so post-pandemic recovery plans must focus on economic growth consistent with the sustainable development agenda to rebuild for a better future."

"The economic and social consequences of COVID-19 will profoundly impact the way organizations interact with their customers and employees long after the vaccine is rolled out. As companies continue to reinvent the workplace, new vulnerabilities are emerging. Carolina Klint, head of risk management for continental Europe at Marsh Group, said: "Companies need to strengthen and constantly review their risk mitigation strategies if they are to become more resilient to future shocks."

"The COVID-19 outbreak in 2020 was a stress test that shook the foundations of the global economy and society. Rebuilding resilience against systemic shocks will require greater investment, international cooperation and social cohesion. It will also depend on continued growth in global connectivity. As we know, the more digitalized economies fared relatively well in the 2020 response." "However, if we are to promote 5G and AI deployment as an engine of economic growth, we must bridge the digital divide and deal with moral hazard as soon as possible," said Lee Hyung-hee, chairman of SK Group's social value committee.

About the Davos Agenda Dialogue?

The Davos Agenda dialogue will follow the release of the Global Risks Report, a ground-breaking mobilization of global leaders to rebuild trust, work together on the principles and policies needed in 2021, and build the partnerships needed. The dialogue, which will last a week, is dedicated to helping leaders develop bold and innovative solutions to curb the pandemic and drive a strong recovery in 2021. Heads of state, chief executives, leaders of social organizations and members of the global media will actively participate in more than 100 meetings on five major themes.