World Economic Forum Chairman Warns: AI, Cryptocurrency, and Debt May Become the Three Major Bubbles

Jinse Finance reported that World Economic Forum (WEF) Chairman Børge Brende stated on Wednesday that global financial markets may face three potential bubbles that deserve worldwide attention. During his visit to São Paulo, Brazil's financial center, Brende said: "In the future, we may see bubbles emerge. The first is the cryptocurrency bubble, the second is the AI bubble, and the third is the debt bubble." He added that since 1945, government debt levels have never been this high. Brende pointed out that while AI is expected to bring significant productivity improvements, it could also pose a threat to a large number of white-collar jobs. "In the worst-case scenario, we may see phenomena similar to the 'Rust Belt' in major cities, where cities with a large number of back-office positions and concentrations of white-collar employees are more likely to have their jobs replaced by AI." He cited recent layoff announcements by companies such as Amazon and Nestlé as examples of this trend.