The Top 10 Global Risks for 2026
2026 is a tipping point year.
That’s not because we should expect a coming confrontation between the two biggest powers, the U.S. and China. Nor are tensions between the U.S. and Russia likely to spiral out of control this year. Instead, 2026 looks set to be a time of great geopolitical uncertainty, because the U.S. is unwinding its own global order.
1. U.S. political revolution
What began as tactical norm-breaking has become a system-level transformation: President Donald Trump’s attempt to systematically dismantle the checks on his power, capture the machinery of government, and weaponize it against his domestic enemies. With many of the guardrails that held in Trump’s first term now buckling, we can no longer say with confidence what kind of political system the U.S. will be when this revolution is over. Ultimately, the revolution is more likely to fail than succeed, but there will be no going back to the status quo. The U.S. will be the principal source of global risk this year.
