A very interesting piece by Steve Faktor CEO of IdeaFaktory innovation incubator on the top global risks in 2024 spectrum gives us a unique and novel perspective from his very focused celebrations. We acknowledge his original thoughts and share his piece for the benefit of all.

Quote.

“USELESS list of Global Risks from World Economic Forum”

Besides (possibly) climate & nuclear/biological events, few of these are universal. In a world of rivals, most of these “risks” are also weapons. China, US, North Korea, and Russia are more likely to deploy cyberattacks, “attacks on critical infrastructure”, disinformation, and possibly nuclear or biological weapons than be passive victims of them.

Impact from risks like housing, civil unrest, censorship, supply chains, and skill/labor shortages are highly localized. Each nation (sometimes group of nations) has a distinct risk profile that varies so wildly that looking at them “globally” is counterproductive.

Even “cost of living” or economic downturns, which look like universal problems are affected by IMF, World Bank, reserve currency, and OPEC decisions, exerting wildly disproportionate pressures on poor and emerging nations than the handful pulling the strings.

Basically, this is an obtuse way to look at the world.”

Steve Faktor

CEO of IdeaFaktory innovation incubator, author of Econovation, Forbes & HBR writer; ex-Fortune 100 Innovation Executive

#economics #economy #trends #risks #future #security #securityskills