Global Risks Report 2025

January 15, 2025--The 20th edition of the Global Risks Report 2025 reveals an increasingly fractured global landscape, where escalating geopolitical, environmental, societal and technological challenges threaten stability and progress.
Key findings of the report, in which we compare the risk outlooks across the three time horizons.

Declining optimism

As we enter 2025, the global outlook is increasingly fractured across geopolitical, environmental, societal, economic and technological domains.

Over the last year we have witnessed the expansion and escalation of conflicts, a multitude of extreme weather events amplified by climate change, widespread societal and political polarization, and continued technological advancements accelerating the spread of false or misleading information.

Optimism is limited as the danger of miscalculation or misjudgment by political and military actors is high. We seem to be living in one of the most divided times since the Cold War, and this is reflected in the results of the GRPS, which reveal a bleak outlook across all three time horizons – current, short-term and long-term.

WTO issues new edition of World Tariff Profiles

July 7, 2025-The WTO published on 7 July the 2025 edition of World Tariff Profiles, which provides comprehensive data on the tariffs and non-tariff measures imposed by over 170 economies. It is a joint publication of the WTO, the International Trade Centre (ITC) and UN Trade and Development (UNCTAD).
The publication provides summary tables listing the average "bound" (maximum) tariffs and applied tariffs for each economy for both agricultural and non-agricultural products as of end-2024.

Flow Traders-Tokenization in Capital Markets: A Market Maker's Perspective

July 3, 2025-Tokenization unlocks efficiencies like instant settlement, 24/7 trading, and fractional ownership-but real-world adoption depends on solving infrastructure and regulatory challenges, not just technology.
Market makers face key friction points in tokenized markets: fragmented liquidity requiring pre-funding across blockchains, lack of product-market fit without real demand, and operational complexity from 24/7 trading.