In our 2023 Global Risks Report, Edelman Global Advisory (EGA) predicted that the greatest challenges to business were going to come from:
- a continued global economic slowdown
- global supply chain challenges
- the Ukraine/Russia conflict
- the ramp up to the US political season
- challenges of migration and their impact on domestic politics, and
- climate-related issues.
As we come into 2024, EGA explores the impacts of a slow to flat global economic outlook, and examines what we anticipate will be the primary issues facing multinational corporations in the year ahead:
- Global growth outlook and major national growth outlooks
- Greater shifts towards multipolarity
- Spread of conflict and instability
- Shifting international trade patterns
- Climate risks
- AI risks
With more countries prioritizing national and economic security over tenets of economic liberalism and globalization, global risks are mounting and should be accounted for in business, supply chain, and investment strategies. Government relations functions within organizations are playing an increasingly critical role in long-term corporate planning, shifting from being a cost center to a risk mitigator. Corporate strategy is geopolitical. To successfully navigate the complexity of today’s geopolitics, businesses must strive to understand, prepare for, and navigate the nexus between regional conflicts, elections, regulation, economic and climate policy, and their respective consequences.
Read the full report here.
