The World Economic Forum (WEF) has sounded an alarm, identifying misinformation and disinformation as immediate threats for 2024 in its recently released Global Risks Report. The report, unveiled ahead of the annual Davos meeting in Switzerland, highlights a concerning landscape dominated by these issues, alongside pressing concerns about extreme weather and Earth system alterations in the long run. Moreover, the report underscores a notable absence of global cooperation in addressing urgent worldwide challenges.
The WEF’s report outlines the top five risks anticipated over the next two years: misinformation and disinformation, extreme weather events, societal polarization, cybersecurity breaches, and interstate armed conflicts. Looking ahead to the next decade, the leading risks are projected to be extreme weather events, critical changes to Earth systems, biodiversity loss, natural resource shortages, and continued challenges with misinformation and disinformation.
Painting a predominantly pessimistic picture for the near future, the report suggests a worsening trajectory over the long term. About two-thirds of global experts foresee the emergence of a multipolar or fragmented global order in the coming decade.
The report emphasizes the necessity for enhanced global collaboration and partnerships to confront these significant risks. It recommends reinforcing individual and state resilience through initiatives like digital literacy campaigns addressing misinformation and disinformation. Furthermore, it stresses the importance of increased investment in climate modeling and technologies, urging both public and private sectors to contribute.
Anticipating persistent economic uncertainty and growing technological divides, the report predicts challenging years. The International Monetary Fund’s World Economic Outlook from October revealed a sluggish global recovery, marked by increasing regional disparities and limited room for policy maneuvering.
The forecast for global growth indicates a slowdown from 3 percent in 2023 to 2.9 percent in 2024. Advanced economies are expected to decelerate from 2.6 percent in 2022 to 1.5 percent in 2023 and 1.4 percent in 2024 due to tightening policies. Meanwhile, emerging markets and developing economies are projected to experience a modest decline in growth from 4.1 percent in 2022 to 4 percent in both 2023 and 2024.
The WEF’s report, crafted in collaboration with Zurich Insurance Group and Marsh McLennan, draws insights from over 1,400 global risk experts, policymakers, and industry leaders surveyed in September 2023.
The 54th annual WEF meeting is scheduled to take place in Davos next week, from January 15 to 19, where these critical global challenges will be at the forefront of discussions.
