World Economic Forum’s new Global Risks 2009

New report identifies hard landing for China, collapse in asset prices, gaps in global governance and climate change as key risks ahead

Tuesday, January 13, 2009

Sheana Tambourgi, Director and Head of the Global Risk Network at the World Economic Forum, said: “Global Risks 2009 builds on the work of previous years and highlights the need for concerted action to mitigate risks that now more than ever are global in their nature and in their impact, as illustrated by the financial crisis. But the same is true for other risk areas; global risks require a multistakeholder response and cannot be appropriately tackled in isolation.”

The 2009 report predicts that massive government spending to support financial institutions is threatening the already precarious fiscal positions in countries such as the US, United Kingdom, France, Italy, Spain and Australia. It is dangerous to address immediate concerns without remedying the root causes of the problem, or sowing the seeds of new ones whose impact will not be immediate but may be strongly felt at a later date. The US, for example, is currently running a deficit equivalent of 4.6% of its GDP.

More on this topic

World Economic Outlook Update

January 2010

The global recovery is off to a stronger start than anticipated earlier but is proceeding at different speeds in the various regions.

A Policy-Driven, Multispeed Recovery

Following the deepest global downturn in recent history, economic growth solidified and broadened to advanced economies in the second half of 2009.

Trade and Environment

June 2009

WTO and UNEP launch a report explaining for the first time the connections between trade and climate change.

The WTO/UNEP report on “Trade and Climate Change” published today examines the intersections between trade and climate change from four perspectives: the science of climate change; economics; multilateral efforts to tackle climate change; and national climate change policies and their effect on trade.

Commodity prices, financial crisis, regional inflation

December 2008

Outlook Report December 2008 from the Executive Secretariat of the Central American Monetary Policy.

The disruption of prices in the international market for commodities: petroleum, steel, copper, and basic food, and especially, the recent problems with the US financial system and other countries and regions in the world that are affecting employment and other economic variables, are two of the situations that have significant implications for the region.

Report AIECE Working Group on Foreign Trade

November 2008

The financial crisis is still spreading and deepening and is making inroads on the real economy.

Forecasting is always “work in progress” but the exceptional situation today makes it feel like shooting at a moving target from a ship on the high seas. The forecasts of the Working Group were prepared at the beginning of October, starting off from data supplied by member institutes, prepared somewhere in the third quarter.

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