Geopolitical risk perceptions depend on where you are sitting
In Germany, Russia’s war on Ukraine is perceived as the riskiest geopolitical crisis in 40 years. Americans are concerned, but Stateside, nothing compares to 9/11.
This chart uses measures of risk from Economic Policy Uncertainty, an academic group that measures news coverage to create indices relating to challenges ranging from infectious diseases to wars.
We used their data a year ago, after Russia invaded Ukraine. This is a different visualisation, which tracks a global geopolitical risk index against the perception of risk in nine major countries.
The “pulses,” or bubble size, reflect a deviation from the mean, i.e. the greater salience of geopolitical risk at a given moment.
Germany is notable for how much its perception of risk surged. Europe’s biggest economy lost the source of energy that was key to its economic model and has had to pledge a military revamp as full-scale land wars return to the continent, not too far east of Germany’s borders.