What is Five-alarm global fire?

The United Nations recently announced that the world is to face five major risks in 2022. These risks are referred to five – alarm global fire. The five alarms are COVID-19, lawlessness in cyberspace, climate crisis, bankrupt global financial system and diminished peace and security.

What is the solution?

• The UN has suggested that in order to prevent or reduce these risks, the countries should go into emergency mode.
• “Avalanche action” is the need of the moment to tackle climate crisis. The global emissions should be reduced by 45% by the end of the decade.

Current Scenario

• According to the United Nations, the pandemic favours the rich and is punishing the poor. The global financial system is bankrupt. Actually, a good reliable and strong financial system should support countries through their financial shocks. Unfortunately, this is not happening now. Lopsided investments are being made. This is leading to lopsided recovery. Lopsided means one side is bigger and the other is smaller.
• There is a need to expand internet access. More than three billion people are still offline, that is, do not have the access to internet.
• The world governments should take immediate actions to data misuse, cybercrime and misinformation.
• The middle income countries are denied of debt relief. The poorer countries are facing slowest growths or no growth at all.
• The women and the girls form the major part of the poor in the world.
• The poor and middle income countries are facing forced migration.
• The personal information is being misused and manipulated all over the world. There is huge violation of human rights and undermining of democratic institutions.