Global leaders to discuss world’s future, populism rise at Davos economic forum
MOSCOW (PNA/Sputnik/AP/AFP) – The world’s political, financial, and business elites will gather in Davos, an expensive ski resort in the Swiss Alps this week to share their concerns
about the challenges that humanity is facing and to discuss how to cope with them.
The World Economic Forum’s (WEF) annual meeting 2017 comes after a year marked by a significant shift to anti-establishment and anti-globalization views, and mostly remembered for the Britons’ choice to leave the European Union and Donald Trump’s victory at the presidential election in the United States.
China is taking the world’s most elite annual gathering by storm with President Xi Jinping leading a Chinese delegation of over 100 officials and scores of business executives attending the WEF, embodying a tectonic shift at an event that started nearly a half-century ago among Europeans and Americans.
Xi’s opening plenary address Tuesday to political and business leaders is shaping up as perhaps the highlight both of this year’s WEF and Xi’s onecountry European visit to ultra-stable and chronically neutral Switzerland.
“The two countries will strive to maintain world peace and stability, promote common development and jointly maintain a global trade system which is open and tolerant,” Xi told reporters at a joint briefing with Swiss President Doris Leuthard on Monday. “We will push global governance toward a fairer and more reasonable direction.”
In tune with the zeitgeist, Davos 2017 will run under the theme “Responsive and responsible leadership,” dwelling on the ways to reverse the tide of growing protectionism and populism, revive economic growth and reform market capitalism.
Humanitarian challenges, primarily is Syria, expectations on the upcoming Trump’s presidency, refugee crisis and the global terror threat rank high at this year’s WEF.
Some 3,000 participants from over 100 countries are expected to participate. The conference is going to be the most diverse ever, according to the organizers, as one third of participants will be outside business and government.
Among the most well-known attendees of the forum are outgoing US Vice President Joe Biden, US State Secretary John Kerry, British Prime Minister Theresa May, Alibaba CEO Jack Ma, actor Matt Damon, singer Shakira, South African President Jacob Zuma, and Chinese President Xi Jinping who will open the summit.
It will be the first time the Chinese head of state attends the forum.
Xi is expected to continue his mission of presenting China as a champion of globalization and the key actor in shaping global economic order, which he started already in Peru at the AsiaPacific Economic Cooperation (APEC) summit in November.
Davos 2017 will end just as Trump takes office on January 20.
A tale of two speeches Two presidential speeches of historic import will highlight this week’s WEF — one will be by Xi Jinping, the first Chinese president to attend the WEF and is expected to seek to turn the page on the US-led polity for trade that has governed since World War II in favor of a “multi-polar” approach; and the other by Donald Trump when he is inaugurated in Washington as the 45th US president on Friday.
Around 3,000 government leaders, captains of industry, stars of screen and agenda-setting thinkers are braving heavy snow and the chill winds of an anti-globalization revolt by Western voters to congregate in Davos for the 47th World Economic Forum.
Conscious of the revolt, organizers are billing the four days of discussions as “A call for responsive and responsible leadership”, and top business executives agree that they must not appear oblivious to public anger.
“The advantages of globalization are more clear in emerging markets then in developed countries. We have to listen, to help people that are concerned,” Sergio Ermotti, chief executive of Swiss banking giant UBS, told AFP.
A World Economic Forum study said that within advanced economies, median per capita income fell on average 2.4 percent over the past five years, helping to explain why disaffection is so high across the West.
Away from debates on weighty issues such as reform of capitalism, artificial intelligence and a cure for cancer, Davos attendees including China’s richest man Jack Ma and Hollywood star Matt Damon will get to unwind at exclusive apres-ski events dotted around the town.
But the party for “Davos Man” may be drawing to a close if the anti-elite backlash intensifies.
British Prime Minister Theresa May will address the World Economic Forum on Thursday, two days after outlining her vision for Brexit in another keenly awaited speech. Her predecessor David Cameron is also attending Davos, and will no doubt offer some rueful remarks on how he so badly misjudged the mood of British voters.
But the week’s most consequential speech will come in Washington as Davos winds down Friday. What response, if any, that Trump offers in his inaugural address to Xi’s vision for an alternative world order will provoke much soulsearching among the forum’s great and good.