Nuclear war, extreme weather top list of 2018 threats in global survey

Kim Hjelmgaard | USA TODAY

Show Caption Hide Caption Risk of nuclear weapons and extreme weather top threats for 2018 According to the World Economic Forum’s Global Risks Report, Nuclear War, cyber attacks and environmental disasters lead the record of man-made threats to international stability. Veuer's Chandra Lanier has the story.

Nuclear war, cyberattacks and environmental disasters top the list of man-made threats to global stability in 2018, according to a survey of 1,000 international leaders from business, government, education and service groups.

Another global financial meltdown, more likely in past years, has ebbed because of economic expansions underway worldwide, the annual World Economic Forum's Global Risks Report found. It was released Wednesday in advance of the forum's meeting next week in Davos, Switzerland.

Mother Nature topped the most significant risks facing the world for a second year in a row, the survey showed. That includes natural disasters and extreme weather events that human-caused climate change may be abetting.

The risk of nuclear war climbed up the list of concerns as a result of North Korean leader Kim Jong Un's tests of ballistic missiles and nuclear weapons, and President Trump's bellicose vows to annihilate North Korea if it launches an attack.

Tillerson: Nuclear North Korea threat growing Secretary of State Rex Tillerson says the U.S. seeks a diplomatic resolution in the nuclear standoff with North Korea, but he's declining to comment on whether the White House is considering limited military action against Pyongyang. (Jan. 16)

A near unanimous 93% of respondents expect a worsening of "political or economic confrontations/frictions between major powers" this year. Nearly 80% think risks associated with "state-on-state military conflict or incursion" and "regional conflicts drawing in major powers" will be higher than in years past.

Trump will join other world and business leaders in the Swiss Alpine resort Jan. 23-26 for the forum, where he is scheduled to give the closing address, organizers said.

Klaus Schwab, the forum's founder, said one big issue will be "the future of global cooperation related to trade, environment, the fight against terrorism, tax systems, competitiveness."

"In this context it’s absolutely essential to have President Trump with us," he said. Trump has alienated many other world leaders with his preference for a go-it-alone approach rather than embracing joint international efforts to deal with many of these problems.

Extreme weather in 2017 included three major Atlantic hurricanes — Harvey, Irma and Maria — that caused a record $200 billion in damage.

Record high temperatures struck southern Europe, eastern and southern Africa, South America and parts of Russia and China. Last year, Trump withdrew the United States from the landmark Paris Climate Accord that aims to reduce carbon emissions blamed for global warming.

The greatest concerns for North American business leaders are cyberattacks, terrorism, asset bubbles, fiscal crises and the failure of adapting to climate change.

"Humanity has become remarkably adept at understanding how to mitigate conventional risks that can be relatively easily isolated," the report said. "But we are much less competent when it comes to dealing with complex risks in the interconnected systems that underpin our world, such as organizations, economies, societies and the environment."

Other pressing concerns identified in the report:

• Cyberattacks that target critical infrastructure and strategic industrial sectors. In a worst-case scenario, they could trigger societal chaos.

• Data fraud or theft of private or government data on an unprecedented scale.

• Climate change continues to cause havoc because governments and businesses fail to combat the causes.

• Mass migration continues because of war, natural disasters and poverty.

• Terrorist attacks that inflict large-scale death and destruction.

• Financial bubbles that could hit stocks, commodities and housing.

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In a section on cyberattacks, the report said cyber breaches recorded by businesses have nearly doubled from 68 per business in 2012 to 130 in 2017.

In 2016 alone, 357 million new malware variants were released, and "banking trojans" designed to steal account login details could be purchased for as little as $500, the report said. The European Aviation Safety Agency, the European Union's industry regulator, said aviation systems see an average of 1,000 cyberattacks each month.

"Geopolitical friction is contributing to a surge in the scale and sophistication of cyberattacks," said John Drzik, president of global risk and digital at insurance broker Marsh, referring to simmering conflicts from Ukraine to North Korea.

More: Trump to attend Davos economic conference in Switzerland