The World Economic Forum (WEF) has called on governments and business to boost productivity, warning that worldwide economies remain vulnerable to financial shocks Wednesday after the financial crisis. In its latest competitiveness report, the WEF also said economies were woefully unprepared for incoming "automation and robotisation". "The prospects for a sustained economic recovery remain at risk due to a widespread failure on the part of leaders and policy makers to put in place reforms necessary to underpin competitiveness and bring about much-needed increases in productivity," the WEF warned. It urged governments to create more flexible labour markets that can cope with encroaching robotisation.
The World Economic Forum (WEF) has called on governments and business to boost productivity, warning that worldwide economies remain vulnerable to financial shocks a decade after the financial crisis. In its latest competitiveness report, the WEF also said economies were woefully unprepared for incoming "automation and robotisation". "The prospects for a sustained economic recovery remain at risk due to a widespread failure on the part of leaders and policy makers to put in place reforms necessary to underpin competitiveness and bring about much-needed increases in productivity," the WEF warned. It urged governments to create more flexible labour markets that can cope with encroaching robotisation.