The 6 steps to build a More Cooperative World

World Economic Forum and McKinsey's Global Cooperation Barometer 2024 highlights that global cooperation has slightly declined by 2% since 2020 but has remained robust over the past decade. The barometer measures cooperation across five key pillars: trade and capital, innovation and technology, climate and natural capital, health and wellness, and peace and security.

To revitalize cooperation and enhance resilience, growth, and security, the report recommends six steps:

1. Embrace "coopetition": Balance competition with cooperation to advance shared interests.

2. Use cooperation to create more cooperation: Leverage existing cooperation to build trust and reduce conflict.

3. Raise the capabilities of management: Strengthen multinational executives' understanding of global connections and geopolitical realities.

4. Evaluate board expertise and engagement: Enhance boards' ability to support global cooperation through informed decision-making.

5. Build dynamic strategic options: Develop resilient strategies considering global events and interconnectedness.

6. Think diversifying, not decoupling: Enhance resilience through diversification, promoting inclusivity and robust economic systems.

These steps aim to help businesses and governments create a healthier, more prosperous, and sustainable world.