The World Economic Forum's report for 2010 identifies deteriorating government finances as the top risk that could lead economies into full-blown debt crises. Major economies have responded to the financial crisis by increasing stimulus packages and supporting private debt, resulting in soaring deficits. While this may have prevented a more severe recession, the high levels of debt are now a major concern for financial markets. Developed nations are at a higher risk compared to emerging economies, many of which have already taken steps to stabilize their fiscal situations after previous shocks. The WEF report warns that the unprecedented levels of debt being accumulated by governments to stimulate their economies could lead to an increase in sovereign defaults. John Drzik, Chief Executive of Oliver Wyman, a contributor to the report, highlighted the rising risk of sovereign defaults due to high levels of debt. He warned that increased levels of unemployment could occur, leading to social and political risks. The report identified unsustainable debt levels and the looming financial crisis as top risks, along with underinvestment in infrastructure and rising health costs due to chronic diseases. Other threats include asset price collapse, risks related to Afghanistan, and a potential slowdown in Chinese growth which could impact employment, fuel social unrest, and harm exports. The report also mentioned the possibility of developed nations exceeding "unsustainable levels of debt," which could result in full-blown debt crises with severe social and political consequences, including higher unemployment. Daniel Hofmann, group chief economist at Zurich Financial Services, emphasized that government debt levels exceeding 100 percent of GDP, as seen in the United States and the UK, are clearly unsustainable. He warned that if investors become fearful and begin to question the sustainability of high debt levels, it could lead to sovereign debt crises and defaults, as seen with Dubai and Greece. The concerns over these countries have spread to global markets, and there is also a high risk for the United States and the United Kingdom. The report from the World Economic Forum emphasized the need for tough decisions in the coming months to balance economic recovery with fiscal deficits. It also highlighted the "governance gap" between short-term pressures and the necessity for long-term decisions on issues like healthcare, pensions, and climate change. According to the report, not enough is being done to tackle the problem of underinvestment in infrastructure, which could have negative effects on food and energy security. The World Bank estimates that $35 trillion will be needed for global infrastructure investment over the next two decades. The report also highlights the increasing financial burden of chronic diseases due to longer life expectancy and unhealthy lifestyles, and calls for prevention campaigns to promote healthier living. The report warns that the biggest risks to the world today may come from slow failures or gradual risks that emerge over time, with potentially significant and underestimated long-term consequences.