OPINION

Seeking a global reboot

Just as four days of meetings to discuss the most pressing issues facing the planet are set to get under way at the annual World Economic Forum at Davos in Switzerland, we have in the past few days seen a barrage of news stories and assessments that paint an extremely bleak picture as regards both the world community and the global economy.

At a time when the wealth of the world’s 62 richest people is equal to that of the poorest half of the global population, and if it is true that in the next five years we will see 5 million jobs being lost in the world’s 15 biggest economies because of developments in technology, then we are indeed in a lot of trouble and should be very worried.

The global economic system clearly needs a reboot if we are to prevent major turbulence and social uprisings of gigantic proportions in the not-so-distant future.

As far as the West is concerned, it is already a well-known fact that the middle class is being squeezed beyond its bounds, and this alone does not bode well.