As a solution, Schwab advocates a greater sense of solidarity with the developing world, with the awareness that economic programs that benefit one country eventually benefit all
Davos: Europe Migrant Crisis Just Beginning, ‘Imagine One Billion’
According to Davos leader Klaus Schwab, an impending global economic crisis may very well provoke a tsunami of immigration into Europe that will make today’s waves of immigrants look like mere ripples.
Schwab, founder and executive chairman of the World Economic Forum (WEF), believes that the plummeting prices of commodities signals an economic disaster for the entire developing world, which will have devastating effects on population displacement.
“Look how many countries in Africa, for example, depend on the income from oil exports,” Schwab said in an interview prior to the WEF’s 46th annual meeting, scheduled to begin in Davos later this week. “Now imagine 1 billion inhabitants, imagine they all move north.”
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