Never underestimate systemic risk again Pandemic or coronavirus weren’t new words when Covid-19 began. This risk was foreseen. Australia had a script but lacked dress rehearsals. Pandemics aren’t the only risks that can cripple our social, economic and political systems. Climate change, water scarcity, ecological collapse, terrorism, weapons of mass destruction, infrastructure failure, cyberwar and antibiotic resistance are others. We ignore their cascading impacts at our peril. On some we have held joint exercises. But we must do more to understand Australia’s vulnerability to systemic risks and boost mitigation efforts.
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