France has a uniquely gloomy outlook on the future- The Global Risk Report 2019 - Seeker's Thoughts

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France has a uniquely gloomy outlook on the future- The Global Risk Report 2019

How much Globe Is at Risk?

Global Risk Report - The Global Risk Report 2019 of the World Economic Forum describes changes occurring in the global risks landscape from year to year and identifies global catastrophic risks. 

The report also examines the interconnectedness of risks and considers how the strategies for the mitigation of global risks might be structured.

What does the Report Present?
The report presents the results of our latest Global Risks Perception Survey, in which nearly 1,000 decision-makers from the public sector, private sector, academia and civil society assess the risks facing the world. 
Nine out of 10 respondents expect worsening economic and political confrontations between major powers this year. Over a ten-year horizon, extreme weather and climate – change policy failures are seen as the gravest threats.

This year’s report includes another series of “what if” future shocks that examine quantum computing, weather manipulation, monetary populism, emotionally responsive artificial intelligence and other potential risks. 
The theme of emotions is also addressed in chapter on human cause and effects of global risks; the chapter calls for greater action around rising levels of psychological strain across the world.

The global Risk Outlook For 2019

Top 5 Global Risks in Term OF Impact

1-     Weapons of mass destruction

2-    Failure of climate-change mitigation and adaption

3-    Extreme weather events

4-    Water crises

5-    Natural disasters

Top 5 Global Risks in Terms of Likelihood

1-     Extreme weather events

2-    Failure of climate-change mitigation and adaption

3-    Natural disasters

4-    Data fraud or theft

5-    Cyber-attacks

In 2009, the world was still reeling from the global financial crisis, so economic concerns were naturally are the forefront of discussion.
Today, the most scenario to play out in the near future involve extreme weather events and natural disasters, also trending upward are cyber-security threats and concerns over the security of personal data.

Risk Perception
Each year, the global risk perception survey looks at which risks are viewed by global decision makers as increasing in the coming year some clear themes emerge from the responses:

A Breakdown in geopolitical cooperation
From trade wars to the dissolution of weapons treaties, cooperation between countries is on the decline. Leaders are concerned that this divergent geopolitical climate may continue to inhibit collective progress on important global challenges.

Technological instabilities

As the influence of technology creeps into more aspects of everyday life, cyber-attacks and lax cyber security protocols are becoming more of a concern. In one dramatic example information theft, multiple breaches of India’s government ID database reportedly left the information of over 1 billion registered citizens exposed. Technology if influencing society in other ways too, such as the pervasive issue if “fake news”.

There is a significant financing gap (US$18 trillion) in infrastructure capital

With only US79$ trillion currently planned between now and 2040. This means 20% more financing is needed than we are putting in today. Furthermore, infrastructure needs to be resilient to extreme weather events. Business, with its reliance on public sector infrastructure, will be impacted and need to work with government on solution.

Shorter-term fears are around geopolitical and cyber threats

For top business leaders, cyber risk concern is rising globally and is the highest ranked threat. Other concerns also exist including fiscal crises, unemployment, energy price shocks, national governance failure, interstate conflict and natural disasters.

Environment risks dominate the global risks landscape in terms of impact and likelihood for the third year in a row.

This includes extreme weather events and failure of climate mitigation and adaption. Only 12 years are left to stay beneath 1.5C. However, there is a lack of political will to set more stretching targets to cut emissions. The report finds that business leaders are more concerned about climate in the long term. This disconnect will need to be tackled.

Global risks are intensifying, but our capacity to respond to them is declining.

Power is moving towards more nationalist, authoritarian states and they are becoming more inwards- looking. With greater geopolitical friction, our ability to cooperate to solve challenges such as cyber risks and climate change has become more challenging.

Global risk Report 2019 related to Human Happiness
Survey data also shows that when people are asked to compare their lives to their parent’s generation, the answer vary greatly from country to country.
The prevailing opinion in China is that are improving, whereas nearly 60% of French respondents had a pessimistic view of the realities facing their generation. While France has a uniquely gloomy outlook on the future, this uncertainty is reflected in the opinion if citizens in many other developed democracies as well.