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You're reading: Financial crisis lays seeds of ‘dystopian future’
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In its assessment of the risks to the global economy, the Forum flagged a "dystopian future" for much of humanity that could wipe out the gains achieved so far by globalization and undermine a nascent economic recovery.

The economic crisis, which started in 2007, has already laid siege to some of the world’s biggest banks and pushed the global economy into its deepest recession since World War II. It ravaged the public finances of much of the developed world, particularly in Europe, which in turn has prompted many governments to embark on often-savage austerity measures that heighten uncertainty and do little to boost short-term economic growth.

Though finding that the failure to address excessive government debt is perceived as the most "systematically important" economic risk, the report’s authors warned of the impact of bulging populations of young people with few prospects, as well as growing numbers of retirees dependent on debt-saddled states.

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