World has not escaped risk of collapse

KINGSTON, Jamaica - The world has not yet escaped the risk of a collapse in the global economy despite some renewed confidence heading into 2013, the founder of the World Economic Forum (WEF) told The Associated Press on Monday.
Swiss economist Klaus Schwab, speaking on the eve of the elite annual gathering in the Swiss mountain resort of Davos, called for the business and government leaders heading there to focus on "cautious realism" and a recovering public trust to avoid another major financial crisis.
"The problems and the risks have not gone away," he said in an interview. "The world economy may still confront a collapse if very negative constellations occur."