Introduction To many people, the world and society are at risk due to the existence of dynamics that influence varied aspects of development. In the modern world, there are different elements that define social, economic, and political dynamics as indicated by studies and reports from financial institutions, as well as economic organizations that monitor every perspective of the global economy. Although globalization is an essential component for world development, it has challenges that are posing risks thus the need for their consideration by the concerned parties. Some of the risks are derived from fundamental elements such as economic factors, ecological systems, and global security issues. Some experts argue that globalization does not necessarily create a world that is harmonious and peaceful because the constituent processes are interconnected and intricate. With time, the dependent systems have created complex relations and international working protocols that have constantly defined the formation of democratic economic activities. In spite of the benefits derived from globalization, violent conflicts, the rise of international terror activities, and other forms of political activities that lead to hate crimes characterize the world. These elements have created the perception that globalization is not about economic development but involves consideration of cultural, social, and political processes. In fact, Roberts and Forsyth (25) state that globalization has ushered a new phase of modernity although reflexivity, paradoxes, and various forms of risks characterize it. This can be based on the fact that nations tend to globalize democracy as mankind has constantly sought rationality, science, and progress in accordance with the dominant situational factors. In the process, the globalization process has introduced many non-democratic consequences in the society thus the increased amount of risks. In this case, the risks can be classified in three axes: economic, ecological, and terrorism. Globalization Risk The process of globalization has created several risks in the modern society irrespective of the perceived benefits. Today, economies cannot operate independently due to regional specialization and availability of resources. Countries have formed regional powers according to their nature and ability of production forcing other countries to depend on their existence. Most of the time, these undertakings have created competition for resources often resulting in the current risks factors. With time, the risks have created complexities in terms of their existence, drivers and inter-linkages with other risks thus the need for multi-stakeholder approach for their mitigation. Some of the risks are caused by human perception that progress is based on implied consistencies and consensual relations among the involved parties. These perceptions have detrimental implications although many people do not question their implied consequences since they are blinded by the pursuit of rationality, science, and endless progress without considering the outcomes. Therefore, the uncritical pursuit of progress sometimes leads to undemocratic processes coupled with the various globalization risks. In order to counteract the associated risks, theories have been developed to define the relations between societal institutions and globalization needs. In this case, the risks can be classified into three aspects including economic processes. Economic risks are not only influential in modern times, but also stretch into the future. Their existence has been known to influence global structures that support world economies and their dependencies. Their mitigation has become a predominant consideration because their outcomes are detrimental in aspects such as creation of conflicts and degeneration of ecological systems. This means that economic risks feature the inevitable need to balance social structures, economic functions, and political requirements in order create opportunities for quality control, oversight, and cohesiveness. Further, the society has been put at risk by the creation of globalization models that alter financial processes to accomplish the intended outcomes. As explained by Philip R. (557), financial crises in history have been created by the need to suffice endless economic needs in sectors governed by dynamic variables. From an economic perspective, financial globalization is intended to create continuous growth in the world economy due to its wide outreach. Instead of focusing on localized economies, the globalized systems target all financial market segments as long as they meet the specified trade standards. In addition to generating continuous growth, the economic endeavors have introduced risks to the society. As illustrated by the financial crisis of the year 2008, it is arguable that the society was at risk of financial collapse because of the resultant outcomes. Once it occurred, some economies