World Economic Forum calls for 'fundamental reform' to capitalism as populism enters top global risks

'Increasing polarisation of societies'

The World Economic Forum (WEF) has named the "increasing polarisation of societies" as one of the largest risks to the global economy, admitting that a "fundamental reform" to market capitalism may be needed to tackle the global surge in populism, blamed for last year's Brexit vote and the victory of Donald Trump in the US presidential election.

In its annual Global Risks Report, released today, the forum also named rising income and wealth disparity, changing climate, rising cyber dependency and an ageing population as key trends that will shape the global economy over the next decade. However, the group placed particular emphasis on the "public anger" which it believes to have become a global issue as societies lose faith with the status quo following "years of building pressure". It highlighted President-Elect Donald Trump's victory in November's US Presidential Election and the UK's vote to leave the European Union in Jun...