The Coronavirus Pandemic May Become a Threat to the Global Economy for 5 Years
OREANDA-NEWS. The consequences of the coronavirus pandemic may threaten the development of the world economy in the next 3-5 years, experts of the World Economic Forum (WEF) warn. In addition, as a result of the pandemic, social inequality may increase and geopolitical stability may weaken over the next 5-10 years, according to the WEF report, published on Tuesday, January 19.
Representatives of business and various social groups, interviewed by experts, expect that over the next 3-5 years, the pandemic will lead to such problems as speculative bubbles, price changes, the debt crisis and the collapse of the IT-infrastructure. Despite the start of vaccination against COVID-19, the pandemic will have a long impact on public life and the economy, noted in the research.
The WEF experts said, that they had warned in their annual report against the risks associated with possible pandemics since 2006. At the same time, climate change and other environmental challenges are also identified as the most dangerous problems on a global scale.