Ex-World Bank official warns to diversify away from US markets, people ‘will suffer’

A coordinated push towards global market diversification is urgently needed to shield savers from a potentially dangerous valuation correction in highly concentrated US equities, a former World Bank official has warned. Speaking at an event in Hong Kong on Thursday, Ian Goldin, the former World Bank vice-president, now a professor of globalisation and development at Oxford University, said the growing concentration of capital in a handful of highly valued US technology companies had left...