UN Day: Global Conflict Risks Rise Amid Economic Protectionism

View profile for Mark Heneghan

Growth Leader Energy & Power London / Global Hydrogen Practice Leader / Construction and Operational Risk & Insurance Specialist

Today's "UN Day" marks the eight decades since the United Nations was founded to support international cooperation. Yet the next decade poses severe headwinds in rising global conflict and skepticism toward global institutions. Since 2008's global financial crisis, global average conflict risk has risen 5.4%, an unprecedented 94 countries now face less peaceful conditions, and geopolitical fragmentation has skyrocketed. Global defense spending has risen to a record $2.7 trillion in 2024, now consuming 2.5% of world GDP. Economic protectionism and trade restrictions are also on the rise. More extreme fragmentation could threaten economic stability and growth. A world split into isolated blocks could reduce global GDP by 3.6% in the short term and increase inflation by 3.5% according to the World Economic Forum and Oliver Wyman — a stark reminder of what's at stake. Even when unity feels distant, international dialogue and cooperation are essential. Whether through the UN or other mechanisms, the world will benefit immensely from economic and military de-escalation wherever it can be achieved. Find out more: https://bit.ly/43CyWxj

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Mark Heneghan, the timing really highlights how much we need to rethink our approach to working together internationally, especially with all these complex challenges ahead.

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