Growing gap between rich and poor seen as key economic risk

Growing gap between rich and poor seen as key economic risk

January 11th, 2017 by Associated Press in National Business

German Klaus Schwab, founder and president of the World Economic Forum, WEF, gestures during a press conference, in Cologny near Geneva, Switzerland, Tuesday, Jan. 10, 2017. The World Economic Forum unveiled the program for its annual meeting in Davos, Switzerland, including the key participants, themes and goals. The overarching theme of the meeting, which will take place from Jan. 17 to 20, is "Responsive and Responsible Leadership". (Laurent Gillieron/Keystone via AP)

Photo by The Associated Press /Times Free Press.

LONDON (AP) - The World Economic Forum says "rising income and wealth disparity" is likely to be the biggest driver in global affairs over the next ten years.

As well as reviving economic growth around the world, the WEF says there is a need to reform market capitalism to remedy fractures in society evident in a surge in anti-establishment populism around the world, most notably in the election of Donald Trump as U.S. president and Britain's vote to leave the European Union.

Other key drivers identified in Wednesday's survey of the global risk landscape related to climate change, rising cyber dependency and an aging population.

The WEF organizes next week's gathering of the global political and business elites in the Swiss ski resort of Davos.


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