MY COMMENTARY ON THE WORLD ECONOMIC FORUM HELD IN DAVOS
The whole world is deeply concerned about the serious degradation of our environment. We have observed the erratic changes of the climate, from non-stop rains and blizzards to earthquakes, floods, landslides and other catastrophes that are currently happening.
The world today has a population of 7.8 billion. It is imperative that we are aware of the issues discussed in the recently concluded forum in Davos, Switzerland. The World Economic Forum surveyed 1,490 leaders who attended the forum on the top global risks in 2024 and their potential scale of impact in the lives of humankind.
They broke the risks into five categories, namely, Economic, Geopolitical, Societal, Technological and Environmental.
I have chosen one risk in each category to discuss its impact in our day-to-day lives.
1. Economic. The most critical issue in this aspect is the supply chain which continues to affect the whole world due to the pandemic which crippled industry and business. Because of this sudden crisis which the world was not prepared for, everyone was caught unaware. Today, industries worldwide are trying to find ways to solve the shortage of materials, manpower and resources to ensure that business continues and the supply chain is brought back to its normal operation and systems.
2. Geopolitical. This dimension is critical at the present time due to the war in Ukraine versus Russia and the armed conflict in Israel and Palestine. This situation of unrest impacts the supply chain as there are many materials that the world sources from these four countries.
3. Societal. This category is primordial as all the risks brought to the fore impacts the lives of all humans around the world -- from the concern about world peace and food sources to the erratic changes in the climate to the truth and veracity of sources of information.
4. Technological. The world’s systems are run by technology. We should be concerned of the safety of these installations and be assured that no country or persons will try to undermine the safety of these systems worldwide from big businesses and industries to homes, factories, medical facilities, entertainment hubs, educational centers, etc. Cybercrimes are here to stay so everyone needs to be aware, vigilant and proactive -- and that each country’s governments ensure that tight measures are in force to protect everyone from cybercrimes.
5. Environmental. The whole world is deeply concerned about the serious degradation of our environment. We have observed the erratic changes of the climate from non-stop rains and blizzards to earthquakes, floods, landslides and other catastrophes that are currently happening. Governments are studying ways to mitigate this problem by encouraging industries to manage pollution output. The automotive industry is moving towards electric-run vehicles. Schools are focusing on paperless education and discouraging the use of plastic.
As we study all the risks presented to us by WEF, we realize that misinformation, climate change and polarization are top of mind. We are also bothered about AI and its negative effects as we realize that “garbage in results in garbage out.”
Having shared my own reflections about today’s risks, let us in our own ways do our roles in ensuring that we continue to be responsible, matured citizens and contribute towards a healthy, safe, peaceful and financially sound world. We need to act now for the future of our children and the next generations.
The author is one of 100 Most Influential Global Filipinas for her books and advocacy work. She was recognized as one of The Outstanding Women in the Nation’s Service (TOWNS). As a social historian, she has written 46 coffee table books in the last 24 years found in select libraries around the world.