World needs to wake up to long-term risks

  • Date: 20-Jan-2021
  • Source: Saudi Gazette
  • Sector:Economy
  • Country:Middle East
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World needs to wake up to long-term risks

GENEVA, Switzerland — For the last 15 years the World Economic Forum's Global Risks Report has been warning the world about the dangers of pandemics. In 2020, we saw the effects of ignoring preparation and ignoring long-term risks. The COVID-19 pandemic has not only claimed millions of lives, but it also widened long-standing health, economic and digital disparities.Billions of caregivers, workers and students — especially minorities who were disadvantaged before the pandemic — are now at risk of missing pathways to the new and fairer societies that the recovery could unlock. According to the Global Risks Report 2021, released Tuesday, these developments may further impede the global cooperation needed to address long-term challenges such as environmental degradation.When it comes to technology access and digital skills, the gap between the “haves” and the “have-nots” risks widening and challenging social cohesion. This will particularly affect young people worldwide, as this group faces its second global crisis in a generation and could miss out altogether on opportunities in the next decade.Financial, digital and reputational pressures