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Davos Boss Warns Refugee Crisis Could Be Precursor to Something Much Bigger

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  • Growing economic woe could set millions on the road to Europe
  • We must “restablish a sense that we all are in the same boat”

WEF Chairman: We Are All in the Same Boat

As the crash in commodities prices spreads economic woe across the developing world, Europe could face a wave of migration that will eclipse today’s refugee crisis, says Klaus Schwab, executive chairman of the World Economic Forum.

“Look how many countries in Africa, for example, depend on the income from oil exports,” Schwab said in an interview ahead of the WEF’s 46th annual meeting, in the Swiss resort of Davos. “Now imagine 1 billion inhabitants, imagine they all move north.”