Editor's Note: A longer version of this article was originally published in Brink.

With the COVID-19 pandemic entering its third year, the disparate — some call it inequitable — response among nations is causing a divergent economic recovery that makes it difficult to address global challenges.

As highlighted in the 2022 Global Risks Report — prepared by the World Economic Forum (WEF) with the support of Marsh McLennan and other partners — countries, companies and individuals are experiencing the pandemic, economic recovery, geopolitical shifts and environmental risks in vastly different ways. For example, as the report notes, by 2024, the GDP in developing economies (excluding China) is expected to have fallen 5.5% below pre-pandemic growth forecasts; advanced economies are expected to have surpassed those targets by 0.9%.

These divergent trajectories threaten to lead countries to pursue conflicting response strategies in areas including cyber risk, climate transition, and social unrest, which could exacerbate global frictions.

Such risks must be carefully, creatively and holistically managed through cooperative efforts, data-based decision-making, regular communication, adaptive regulation and flexible strategies if there is to be a more sustainable and resilient future for people, businesses and governments.

This article is posted through the courtesy of Marsh and can be accessed through this link.