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The risk of a global recession in 2020 could exacerbate the already significant breakdown in public trust that is rattling institutions around the world, delegates at the 20th annual Global Business Forum in Banff were told Thursday.

Lisa Kimmel, chair and chief executive of Edelman Canada, said there is a growing feeling of pessimism about the future in most parts of the developed world. According to Edelman Canada’s 2019 Trust Barometer, an online survey of 33,000 people across 27 markets, only one-in-three of the mass population believes his or her family will be better off in the next five years, and only one-in-five believes “the system is working for them.”

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Survey respondents, particularly those with less education and lower income levels, showed a significant level of distrust for institutions that were once considered the bedrocks of society. Globally, only 57 per cent of respondents said they trust NGOs, 56 per cent said they trust business, 48 per cent said they trust government, and 47 per cent said they trust media.