Global leaders identify geoeconomic confrontation as the worlds top emerging threat

World Economic Forum Survey Identifies Geoeconomic Confrontation as Top Global Threat

A recent survey conducted by the World Economic Forum (WEF) has identified “geoeconomic confrontation” as the most pressing risk to global stability in the short term. The WEF’s annual Global Risks Report, which polled over 1,300 experts worldwide, found that 18% of respondents considered this category the most likely trigger of a global crisis within the next two years.

According to Saadia Zahidi, managing director of the WEF annual gathering in Davos, Switzerland, “geoeconomic confrontation” refers to the use of economic policy tools as strategic weapons to constrain geopolitical rivals and consolidate spheres of influence. Examples cited by Zahidi include rising tariffs, checks on foreign investment, and tighter supply controls on resources like critical minerals.

The report notes that this category has risen from ninth in last year’s report to the top spot, reflecting a year marked by renewed trade wars between rival powers. The WEF warns that economic tools are increasingly being weaponized as extensions of geopolitical strategy amid a broader retreat from multilateralism.

Other risks identified by the report include misinformation and disinformation, societal polarization, and environmental concerns. Disruptions to critical infrastructure were ranked 22nd in terms of risk over the next two years and 23rd over the next 10 years.

The WEF’s Peter Giger stated that with a complex mix of interacting risks demanding attention, threats such as disruptions to critical infrastructure appear “underplayed”. The report will be released next week at the WEF annual gathering in Davos.

Source: Al Jazeera