Refugee crisis ‘just precursor’ to much bigger event…”Collapse in oil prices could bring historic shift in populations”

Tuesday, January 19, 2016
By Paul Martin

LEO HOHMANN
WND.com
Jan. 19, 2016

The founder of the World Economic Forum, which will hold its annual meeting this weekend in Davos, Switzerland, is predicting that falling oil prices could worsen the migrant crisis and bring chaos to Europe.

“Look how many countries in Africa depend for their income from oil exports,” Klaus Schwab told Bloomberg News. “Now just imagine 1 billion inhabitants. Imagine they all move north.

“So it could be that the present refugee problem we have in Europe is just the precursor of what could come if you add in addition a possible water crisis,” he continued. “So I’m very concerned that the lowering of commodity prices leads to substantial social breakdown in a number of countries.”

Schwab also said the Federal Reserve and other elite decision makers are moving in “uncharted territory.”

The theme of this year’s conference, set for Jan. 20-23 in Davos, is “The Fourth Industrial Revolution” as the world prepares to deal with mass replacement of human labor with robots and other technology. A net decrease of 5 million jobs will be lost to to robots by 2020, according to a WEF study released Jan. 18.

Schwab said leaders should not underestimate the impact of lower commodity prices or the vulnerability of some countries to foreign-exchange exposure.

“I’m positive for the developed world but I would foresee the potential for quite substantial shocks,” he said.

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