WEF 2024: Global cooperation took a 2 percent dip from 2020 to 2022

The World Economic Forum has released the Global Cooperation Barometer, a tool developed to gauge the state of world cooperation, in collaboration with McKinsey & Company. 

The barometer uses 42 indicators to analyze five core areas of global cooperation from 2012 to 2022, including trade and capital, innovation and technology, climate and natural capital, health and wellness, and peace and security. 

Despite demonstrating resilience across various dimensions from 2012 to 2020, cooperation saw a 2 percent decline from 2020 to 2022. While some sectors showed signs of strength, there were significant global challenges, particularly in health cooperation and peace and security. 

The release of the barometer coincides with a year marked by escalating conflicts and record-breaking heat, but also progress in climate action, trade agreements, and innovation. 

The accompanying report offers recommendations for business and government leaders, including enhancing public-private partnerships, envisioning new ways of cooperation, and using cooperation as a catalyst for further collaboration. 

It also emphasizes that entities prioritizing strong cooperative arrangements are more likely to recover effectively from supply disruptions.