Davos Forum warns over global income inequality
LONDON (AP) — The World Economic Forum says the gap between the rich and the poor is the most likely risk to the global economy in coming years.
In its annual risk assessment ahead of next week's gathering of political and business leaders in Davos, Switzerland, the World Economic Forum says income disparity in the wake of the global financial crisis is the "most likely risk to cause an impact on a global scale in the next decade."
It warns of a "lost generation" of young people coming of age in the current decade that could hamper the global economic recovery and stoke tensions in society.
Other risks identified in Thursday's report are extreme weather events, high levels of unemployment and underemployment, cyber-attacks as well as the ongoing strains on government finances.