New Global Cooperation Barometer: Cooperation Is Possible Even in Midst of Competition
As the world ushers in the new year, the Global Cooperation Barometer has emerged as a beacon of insight into the dynamics of global collaboration.
Launched by the World Economic Forum in collaboration with McKinsey & Company, this barometer serves as a comprehensive gauge of the state of global cooperation from 2012 to 2022. The findings, unveiled in Geneva, Switzerland, on January 8, 2024, paint a nuanced picture of the world’s collaborative efforts.
The Global Cooperation Barometer delves into five pivotal pillars: trade and capital, innovation and technology, climate and natural capital, health and wellness, and peace and security. The period from 2012 to 2020 witnessed remarkable resilience in global cooperation across these dimensions. However, a 2% decline in overall cooperation from 2020 to 2022 raises concerns and beckons leaders to scrutinize the factors contributing to this dip.
A closer inspection reveals a tale of contradictions. While cooperation in health and wellness and peace and security experienced setbacks, signs of strength emerged in pillars such as trade and capital, innovation and technology, and climate and natural capital. These variations reflect the complex challenges the world grappled with over the past three years, from global health crises to an upswing in violent conflicts.
Børge Brende, President of the World Economic Forum, asserts,
“The greatest challenges – and the most promising opportunities – for our planet, societies, and economies are not bound by borders, which means the only way to address them is through cooperation.”
Despite differences and competition, the Global Cooperation Barometer underscores that cooperation remains not only feasible but essential.
Bob Sternfels, Global Managing Partner at McKinsey & Company, emphasizes that although the world has witnessed increased divisions, the barometer portrays global cooperation as surprisingly robust over the last decade. Progress in collaboration across various sectors, particularly climate and nature, and breakthroughs in frontier technologies, showcase the potential for global contributions to innovation.
Released alongside the barometer is a comprehensive report offering key recommendations for business and government leaders. These include identifying opportunities to deepen public-private partnerships, practicing “coopetition” to find cooperative opportunities amid competition, and using cooperation to foster further collaboration. The report positions robust cooperative arrangements as a key to resilience, enabling entities to not only weather disruptions but also rebound more effectively.
As the world gears up for the 54th Annual Meeting of the World Economic Forum in DAVOS-KLOSTERS, SWITZERLAND, from January 15 to 19, 2024, the Global Cooperation Barometer sets the stage for discussions on fundamental principles driving trust. Over 100 governments, major international organizations, Forum’s Partners, civil society leaders, experts, youth representatives, social entrepreneurs, and news outlets will converge to explore how cooperation can be strengthened in the face of global challenges.
In a world where division and cooperation coexist, the Global Cooperation Barometer offers a roadmap for leaders to navigate the complexities of collaboration. The golden glow of cooperation, as revealed by the barometer, provides hope for a future where nations and businesses can transcend differences for the greater good.
