significant chance of second financial crisis

There is now more than a one-in-five chance of another asset price bubble implosion costing the world more than 1 trillion, and similar odds of a full-scale sovereign fiscal crisis, a key report warned.

Cash on fire - 'Significant chance' of second financial crisis, warns World Economic Forum
Investors must steel themselves for the possibility of a second leg to the financial crisis, and should be equally prepared for a fiscal crisis, in which a major economy faces either default or a "sudden stop" in financing themselves on capital markets, according to the World Economic Forum.

Its closely watched Global Risks Report also warned of the possibility of China's economy overheating and, instead of helping support global economic growth, preventing a fully-fledged recovery from developing.