Good morning Ladies and Gentlemen. Sawatdee krub.
In recent years, the world has suffered a multitude of crises.
- Financial and economic turmoil disrupted the world economy, with a loss of income, jobs, and social stability.
- Massive natural disasters have devastated entire communities from Haiti to Thailand to Japan, leaving behind a trail of fatalities and economic losses.
- Concerns about global warming have also grown, and so have fears about the spread of deadly contagious diseases.
How can we become more resilient to such crises and risks, and correspondingly, how can we take most advantage of opportunities? The World Development Report 2014 (WDR 2014), Risk and Opportunity—Managing Risk for Development, seeks to provide answers to this question.
Now, pursuing opportunities requires taking risks. But many people, especially the poor, are often reluctant to take risks, because they fear the potential negative consequences. Yet, failure to act and take necessary risks can trap people in poverty, leave them vulnerable to shocks, and even less able to pursue opportunities that would otherwise improve their well-being.