IEP: World becoming less peaceful

The world is witnessing a surge in conflicts, with the highest number of countries engaged in warfare since World War II. Steve Killelea, the founder of the Institute for Economics and Peace, sheds light on the alarming trends revealed in the Global Peace Index Report for 2023. The report demonstrates a significant escalation in conflicts globally, with 56 countries embroiled in internal conflicts and 92 countries involved in conflicts beyond their borders. This marks the highest levels of conflict since the inception of the Global Peace Index in 2008. Additionally, in 2023, 97 countries experienced deterioration in peace, with 108 countries witnessing a decline in militarization, reversing the previous trend of improvement. Killelea underscores the economic impact of these conflicts, estimating the cost of violence on the global economy at $19.1 trillion in 2023 alone. This staggering figure amounts to approximately 13.5% of global GDP. The repercussions of conflict are not limited to economic losses but also encompass substantial human suffering, with over 160,000 people having lost their lives in conflict this year. The dire situation is compounded by the high number of refugees, totaling 110 million individuals, whose numbers continue to rise annually. Killelea emphasizes the pressing need for a concerted global effort to address the root causes of conflicts and pursue equitable solutions. However, he notes a concerning decline in successful peace agreements and resolutions, signaling a crucial need for renewed international focus on conflict resolution. The article reiterates the urgent call to prevent a global recession fueled by escalating conflicts, highlighting the imperative for collective action to mitigate the devastating impact of warfare on both humanity and the global economy.