classified in three axes: economic, ecological, and terrorism.

Globalization Risk
The process of globalization has created several risks in the modern society irrespective of the perceived benefits. Today, economies cannot operate independently due to regional specialization and availability of resources. Countries have formed regional powers according to their nature and ability of production forcing other countries to depend on their existence. Most of the time, these undertakings have created competition for resources often resulting in the current risks factors. With time, the risks have created complexities in terms of their existence, drivers and inter-linkages with other risks thus the need for multi-stakeholder approach for their mitigation.
Some of the risks are caused by human perception that progress is based on implied consistencies and consensual relations among the involved parties. These perceptions have detrimental implications although many people do not question their implied consequences since they are blinded by the pursuit of rationality, science, and endless progress without considering the outcomes. Therefore, the uncritical pursuit of progress sometimes leads to undemocratic processes coupled with the various globalization risks. In order to counteract the associated risks, theories have been developed to define the relations between societal institutions and globalization needs.
In this case, the risks can be classified into three aspects including economic processes. Economic risks are not only influential in modern times, but also stretch into the future. Their existence has been known to influence global structures that support world economies and their dependencies. Their mitigation has become a predominant consideration because their outcomes are detrimental in aspects such as creation of conflicts and degeneration of ecological systems. This means that economic risks feature the inevitable need to balan...