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  • Davos Founder: World 'Identity Crisis' Driven by Globalization Has Led to Trump's Election, Brexit

    02/12/2017 6:02:00 AM PST · by LRoggy · 26 replies
    CNBC.Com ^ | 2/12/17 | Arjun Kharpal
    World citizens are going through an "identity crisis," leading to some of the political upheaval seen across the globe, World Economic Forum (WEF) founder Klaus Schwab said on Sunday, addressing the rise of the anti-globalization sentiment. The man behind the annual gathering of elites in the Swiss mountain retreat of Davos outlined why he believed that led to events such as the election of U.S. President Donald Trump and Britain's exit from the European Union. Schwab said that globalization has created a "new economic equation" in which labor prices have fallen while those who have capital have benefited. He said...