Global threats in 2010 revealed by report

Underinvestment in energy and agriculture are among the biggest economic threats facing the world in 2010, according to a report.

The World Economic Forum’s Global Risks study also says the implications of chronic diseases such as diabetes are at risk of being underestimated.

The study says the financial crisis has revealed a need to change thinking on global risks and how they are managed.

Levels of awareness of global crime and corruption are also very low, it says.

“The financial crisis and the ensuing recession have created a more vulnerable environment where unaddressed risks may become tomorrow’s crises,” said Robert Greenhill, Managing Director and Chief Business Officer at the World Economic Forum.

Underinvestment in energy infrastructure has been particularly highlighted.

“The recent drop in oil prices has been good for consumers, but has also contributed to a significant cut in much needed investment in energy infrastructure and renewable energy projects,” said John Drzik, chief executive of Oliver Wyman, part of Marsh & McLennan Companies which helped to compile the report.

“The fragile global economy will make itself more susceptible to oil price-related shocks if this underinvestment continues.”

BBC