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World Economic Forum: The Future of the Global Financial System: A Near-Term Outlook and Long-Term Scenarios

January 15, 2009

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As the effects of the financial crisis continue to unfold,
the world faces serious challenges to the functioning
of both capital markets and the global economy.
With aggregate demand falling, there is a significant risk
of a severe global recession that will affect many sectors,
asset classes and regions in tandem.

It is in this context that the World Economic Forum
is releasing this report. Its launch is timed to coincide
with the World Economic Forum's 2009 Annual Meeting,
which will provide leaders from industry, government
and civil society with a unique and timely opportunity
to actively shape the post-crisis world in a holistic and
systematic manner that integrates all the stakeholders
of global society. A key track of the meeting will be
focused on promoting stability in the financial system
and reviving global economic growth, and we hope
this report will both provide relevant background as well
as catalyze dialogue on related issues.

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