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WEF president: ‘We haven't seen this kind of debt since the Napoleonic Wars'

·1 min


Global Economy Faces Decade of Low Growth, Warns World Economic Forum President #

The president of the World Economic Forum (WEF) has painted a bleak picture of the global economy, warning that it could face a decade of low growth if the right economic measures are not taken. Debt ratios worldwide are approaching levels not seen since the 1820s, increasing the risk of stagflation for advanced economies. Preventing a trade war and addressing the mounting global debt are crucial in avoiding a recession. The president also highlighted persistent inflationary pressures and the potential of generative artificial intelligence in developing countries. The International Monetary Fund also recently reported an increase in global public debt, with projections nearing 100% of GDP by the decade’s end. The geopolitical situation, particularly tensions between Iran and Israel, presents a significant risk that could greatly impact the global economy.