As the Annual World Economic Forum (WEF) begins in Davos, Switzerland, Professor Togba-Nah Tipoteh, the internally renowned Liberian economist, has sent a message to the Forum with a warning that another world financial crisis is highly likely to occur by the year 2020. Dr. Tipoteh recalled the occurrence of the 2008 world financial crisis, which came out of the deregulation policy and practice of the Bush regime of the USA. China managed to avoid the consequences because the economy of China is not dominated by the world free market system. While the industrialized economies were struggling to attain positive economic growth rates after the 2008 world financial crisis, China had a growth rate of nearly 8 percent, falling slightly from its longstanding double digit growth rate of 10 per cent. Dr. Tipoteh reminded the WEF that it took the Bush and Obama Administrations over US$800 billion, respectively, to bail out the big financial houses from the 2008 financial malaise.

Source: Front Page Africa January 17, 2017 02:11 UTC