War is the biggest threat to global economy

The world economy is experiencing unprecedented division, according to the World Economic Forum’s Global Risks Report. The survey of over 900 risk managers found that 23% view armed conflict as the primary threat to global stability. Mirek Dusek, managing director at the WEF, said: “Rising geopolitical tensions, a fracturing of global trust and the climate crisis are straining the global system like never before.” Extreme weather events caused by climate change were identified as the biggest risk by 14% of respondents, while 8% said that geo-economic confrontation – such as steeper trade barriers – would constrain the economy. Just 1% of those polled of respondents identified a new global pandemic as the greatest threat.