Government leaders increasingly agree that “rare unexpected
events” are now neither rare nor unexpected. Indeed, they
are shocks—more frequent and more destabilizing. One now
follows closely on the heels of another, and multiple events
occur at the same time. For example, the pandemic continued
as the Russian invasion of Ukraine began. Various climate
challenges arose such as severe flooding in France, drought
and bushfires in Australia, water shortages in California, and
extreme heat in China.1 Now the economic fallout from the
pandemic and the war has the World Bank and others