January 12, 2012
The financial crisis threatens to drag the world back to the dark days of the 1930s and wipe out the gains of globalisation, a hard-hitting report said tonight.
In its annual assessment of the global economy, the World Economic Forum warned of a rising tide of protectionism, nationalism and protests as seen during the Great Depression.
It blamed the ‘chronic’ state of government finances and the widening gap between the rich and poor as the world lurches from one crisis to another.
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