At the B20 meeting in Indonesia, Klaus Schwab, founder of the World Economic Forum (WEF), put forward the proposal to restructure the world. The B20 is the official G20 dialogue forum with the international business community.
“What we have to confront is a deep systemic and structural restructuring of our world. And this will take some time. And the world may look differently after … [the] transition process,” Schwab said at the B20 summit on Nov. 14. As to the negative effects of such restructuring, Schwab pointed to the example of a company.
During a business restructuring, some costs will be written off and shareholders will suffer, the WEF head said. In the same way, the restructuring of an economy will result in “a reduction of disposable income which can lead to extensive social tensions,” he admitted….