“If we’re not able to revive growth again, we can unfortunately see decade of lower growth,” warns WEF president

The global economy is being shaken by the “most complex” geopolitical and geo-economic environment in decades, according to World Economic Forum (WEF) President Børge Brende. In an interview with AFP ahead of the WEF’s “Summer Davos” in Tianjin, China, Brende warned that continued instability could lead to a prolonged era of weak growth.

“It is the most complex geopolitical and geo-economic backdrop we’ve seen in decades,” Brende stated, noting that geopolitical turmoil is significantly “impacting global growth.”

He cautioned that without a revival in economic momentum, the world risks entering a “lost decade” of stagnation.

The WEF’s annual Tianjin meeting — a summer counterpart to its flagship Davos forum — is set to draw global leaders including Singaporean Prime Minister Lawrence Wong. The gathering follows heightened tensions in the Middle East, particularly U.S. involvement in the Iran-Israel conflict, and persistent global trade friction driven by tariff escalations under U.S. President Donald Trump.

Brende said it was still premature to gauge the full fallout from Trump’s sweeping tariff policies.

“It’s too early to say what these tariffs will end with because the negotiations are still ongoing,” he remarked, suggesting a shift away from the globalisation model that once powered decades of economic expansion.

“The traditional globalisation we saw is now changed into a different system. That is a new chapter — especially since trade was the engine of growth.”

He warned that without resolution, rising conflict and economic fragmentation could deliver a “very negative impact” on global progress.