Economics: Economic Turmoil and Social Upheaval Warning

The threat of fresh economic turmoil and social upheaval threaten to put at risk the gains produced by globalisation, the World Economic Forum said.

The survey of 469 global experts identified chronic problems with government finances and severe income inequality as the most prevalent risks over the next decade.

"These risks in tandem threaten global growth as they are drivers of nationalism, populism and protectionism at a time when the world remains vulnerable to systemic financial shocks, as well as possible food and water crises", the report said.

The study said early hopes that closer global integration would inevitably lead to higher living standards for all were at risk of being dashed by trends that left large numbers of people fearful about the future.

For more, see World Economic Forum Warns of Economic Turmoil and Social Upheaval by Larry Elliott, January 11, 2012 at guardian.co.uk.