Leaders attending World Economic Forum in Davos express fears over rising food prices
Davos, Switzerland (AHN) – World leaders attending the World Economic Forum in Davos, Switzerland, are warning that high food prices bring the danger of social unrest, or even economic warfare.
However, business leaders business attending the economic meeting rejected French Pres. Nicolas Sarkozy’s call for curbing commodity speculation to control volatile prices.
The global population could grow to nine billion in 2045 from seven billion now, causing competition for food and other commodities.
Indonesia Pres. Susilo Bambang Yudhoyono said that pressure on food, energy and water resources from an increased global population could create a race for those resources that resulted in an economic war or conflict.
Although Sarkozy renewed his call to rein in commodity speculators, others at the conference said it was not just speculators who drive up food prices, but also governments that buy up various commodities in an attempt to secure supplies for their people.
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