The World Economic Forum (WEF) has cautioned that the world is at risk of facing a global depression if decisive action is not taken promptly.

According to the WEF, a confluence of factors, primarily within the financial and economic realms, creates a dangerous environment. These include:

• Systemic risks in the financial sector
• Declining economic growth in major economies
• Geopolitical instability

The WEF emphasizes that these risks are interconnected and can amplify one another, leading to a rapid deterioration of the global economic landscape.

The forum calls for:

• Increased international cooperation
• Coordinated policy responses
• Proactive measures to stabilize financial markets
• Investment in sustainable economic growth

The WEF believes that a swift and coordinated response is essential to avert a severe global economic downturn. Failure to act decisively could result in widespread economic hardship and long-term consequences for the global economy.