The cost-of-living crisis is the biggest global risk over the next two years, the World Economic Forum (WEF) warned Wednesday in a survey preceding its annual Davos meetings of global elites.
The WEF report described the cost-of-living crisis as the "biggest short-term risk" between now and 2025, followed by natural disasters, extreme weather events and "geo-economic confrontation".
"Conflict and geo-economic tensions have triggered a series of deeply interconnected global risks," said the annual study ahead of next week's gathering in the Swiss Alpine village of Davos. The survey, produced with the consulting firm Marsh McLennan and Zurich Insurance Group, took into account the views of more than 1,200 global risk experts, policymakers and industry leaders.
The WEF study called on leaders to act "collectively and decisively, balancing short- and long-term views".
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