Online Safety Community

Risk Management in the Global Economy and outlook for 2017


Risk Management in the Global Economy and outlook for 2017.gif

Risk management in the global economy is a highly challenging field for risk managers from any part of the world. With most of the world’s countries almost becoming part of the global economy in this era of globalization; it is emerging that risks that apply to one part any one nation’s or group of nations’ economy could affect many more in a chain reaction, or domino effect.

The Judge Business School of Cambridge University, in its estimate for risk management in the global economy for 2017, has a rather bleak outlook for the global economy. The report analyzes that no fewer than 25 dozen of the world’s urban centers could face close to two dozen different kinds of major shocks of primarily an economic and also of a political and social nature.

risk-management-in-global-economy-and-outlookThis is going to likely impact these important nodal cities of the global economy to the extent that the world’s GDP is going to shrink by as much as 1.5% percent till 2019. This translates to something in the order of $ 1.2 trillion.

Factors determining risk management in the global economy in 2017The report pins down a few important factors that have contributed to the need for risk management in the global economy in 2017:

    • The world is producing more than it ever did in its history. This is because of the high level of human population, which is the highest ever recorded in history, and the economic, agricultural and industrial growth of many underdeveloped economies
    • There has been an unprecedented increase in crises and disruptions in the geopolitical, financial and technological fronts, making risk management in the global economy for 2017 an important area to be addressed by the political and financial leaders around the world

risk-management-in-global-economy-and-outlook

  • The financial sector has come under greater strain in the past few years following the slowdown of 2008 than it had in the few preceding ones, making the prospect of a global meltdown any time in the future a possibility, if not a certainty
  • Added to these, risk management in the global economy for 2017, like in any other year, does face prospects that are of a natural order, such as natural disasters and wars.
Global economy will bear the brunt

risk-management-in-global-economy-and-outlookAll these factors would not have had the same impact as they are likely to have in the current scenario and in the immediate and intermediate future, if not for globalization. The world’s shift towards globalization is now certain and irreversible. The interconnected nature of the global economy has ensured that a shock in one part of the global economy is sure to cause ripples of either a minor or major nature in any other part.

Other important factors for risk management in the global economy in 2017risk-management-in-global-economy-and-outlook

Click to Continue Reading

Views: 84

Comment

You need to be a member of Online Safety Community to add comments!

Join Online Safety Community

Take our poll!

Take our poll!

Latest Activity

Simon Hopes posted a blog post

Speed governor is a technical invention

The popularity of Watt's improved steam engine was rapid, and by 1790 the old Newcomen steam engine was out of sight, and by 1790 there were about 500 steam engines operating in Britain. After less than 100 years or so, by 1868, there were as many as 75,000 steam engines in Britain alone. In 1805, the steam engine in the United States was equipped with cars as a driving force. In 1807, Robert Fulton (1765-1815) of the United States invented a steamship powered by a steam engine. In 1825 George…See More
11 hours ago
HrishikeshRam posted blog posts
12 hours ago
Russel Stuart posted a blog post

HR Documentation is a Vital Aspect of Organizations

HR documentation is of vital importance to organizations. Unless its nuances are mastered organizations can fall into embarrassing and damaging pitfalls.HR documentation is one of the most important aspects at the workplace. The habit of HR documentation is usually imbibed into HR professionals from early on in their careers. But what does HR document?HR documentation resonates with the spirit of the dictum, Verba volant, Scripta manent, meaning "what is written stands; what is uttered flies".…See More
yesterday
Laticia Gibson posted a blog post

Searching A Best Dental Clinic Is Important

Keeping a perfect oral health is crucial. Though, in keeping good teeth set, always it has been a must to research for the good General Dental office you can find in your nearby area. It has to be noted that searching the most suitable clinic can confirm you of good quality and pleasing services. Earlier than you make a selection, there are some important things you have to know.The Crucial Things to…See More
yesterday

Forum

Road Safety

What can be the best measures for Road Safety?Continue

Started by Jen McDade Sep 27.

safety equipments in breweries 4 Replies

safety equipments in breweries -- kindly provide detailsContinue

Started by ajit. Last reply by Jen McDade Sep 24.

Unusual Safety Tips 10 Replies

Please share some unusual but genuine safety precautions.My unusual safety tips - Don't drink sweet fruity juice while driving in the night as it contains sugar and sugar slows down your blood…Continue

Started by Arnold Brame. Last reply by Jen McDade Sep 24.

Safety products 9 Replies

While working or at some work stations, employees are exposed to threats or at times suffer severe injuries. The safety of the employee should be the foremost priority. Safety equipment aids help in…Continue

Tags: equipments, and, products

Started by Enna Henry. Last reply by Jen McDade Sep 24.

Talend Application Integration

APPLICATION INTEGRATION:Talend ESB and Application Integration delivers agile real-time integration of applications and data.Heterogeneous Application and Data IntegrationTalend’s open source ESB…Continue

Tags: york, new, certification, training, talend

Started by nicolewells Sep 21.

Badge

Loading…

© 2018   Created by Safety Community.   Powered by

Badges  |  Report an Issue  |  Terms of Service