Global Spotlight Discussion on Emerging Risk
Given geopolitical unpredictability in recent years, emerging risks are similarly ever-shifting. Panellists in this session focused both on a global view of risk as well as the local.
For Dato’ Steven Wong of the Institute of Strategic and International Studies, he is of the opinion that global security issues in the last 3 decades have increased, with the full implications still yet to be seen. The uncertainty of developing risks is such that they are not necessarily on spreadsheets and are difficult to quantify as hard data.
His top four emerging risks:
1) A decline of democracy and democratic practices worldwide. Without the rule of law, social order will be impacted, with impacts on corporate operations.
2) The deterioration of global security and intrastate security, especially with the rise of cyber-related crimes. In recent times, there have been around 350 major cyber attacks on government facilities, defense contractors, and the like, via Denial-of-Service attacks (DoS) and the immobilization of infrastructure.
3) The increasing frequency and complexity of gray-zone conflicts, which are not fought on the front lines or with traditional military strength, for example proxy wars instigated by Iran, the US, China, Russia, and Saudi Arabia, or manipulation of political elections, such as those suspected in the US and France.
Moderator:
Daragh O'Byrne, Head of Global Research, Nucleus Software
Panelists:
Dato' Steven CM Wong, Institute of Strategic and International Studies
Dr. Anthony Dass, Chief Economist, Ambank Research
The IERP® Monthly Newsletter August 2018 6
> continued