Carlos Slim, the Mexican telecommunications baron and, by some calculations, the world’s richest man, has expressed his concern about global economic and financial conditions, urging the US administration to put its house in order to avoid a global crisis.

Talking to the FT last week, the 67-year-old multi-billionaire said he was worried by recent events in global markets, and saw it as evidence of a potential debacle looming. “The worry is when the crisis will strike, what the crisis will be like and how we are going to handle it,” he said.