WEF 2023 in the live ticker: The latest news about the World Economic Forum in Davos

13.01.2023, 16:25

“Cooperation in a fragmented world”: This year’s World Economic Forum (WEF), which brings together the global elite from politics, business and civil society, begins under this meaningful motto in Davos on Monday. For years, the summit meeting in the mountains sang the praises of globalization. But in times of the Ukraine war, the climate crisis and a weak global economy, that has been sounding different for a long time.

For five days, 400 representatives of government and politics from all over the world will meet in Davos, 600 company directors and bosses are expected, as well as a whole series of celebrities.

The “sheer number” of current crises requires courageous joint action, it says right at the top of the website for this year’s Davos meeting. In Davos, “priorities” for the year are to be discussed and solutions worked out in dialogue.

Actually, everything has priority and the list of challenges is long:

• The ongoing corona pandemic

• Growing differences and trade conflicts between the US and China

• The Russian war of aggression in Ukraine

• The resulting energy crisis

• Global warming

These are just a few items on a long agenda.

That 53rd World Economic Forum is taking place in the midst of “the most complex geopolitical and geoeconomic situation in decades”, said former Norwegian Foreign Minister and current WEF President Börge Brende. There is a lot at stake. Quite a few debates will revolve around the future of globalization, strained supply chains and supply problems, and the exploding cost of living in many countries.

Big players in this situation are Russia and China. President Vladimir Putin will be absent from the meeting. Recently, it was not known from Beijing who would come to the meeting.

The long list of crises has already led politicians and experts to “End of the era of globalization” to speculate regarding one “De-Globalization” or one “re-globalization”. In any case, the hope of returning “to the good old days” of the globalized world is fading, says economist Karen Harris from the consulting firm Bain & Company. This Era “coming to an end”.

the Ukraine conflict likely to dominate mid-week then NATO Secretary General wants to be Jens Stoltenberg to express. A large delegation of ministers, military leaders and soldiers from Ukraine is also expected in Davos – the goal of their lobbying: more weapons and more money from the West in the fight once morest the aggressor Russia.

Also the Climate crisis does not rest, so should regarding the first preparations for the COP28 to be taken in November United Arab Emirates takes place. Activists will use the meeting to exhort rich-country governments and energy companies to drive the energy transition in developing countries and pay for climate damage. Protests are also planned in Davos.

As usual, much of the talks this year will take place behind closed doors in five-star hotels, where CEOs and investors explore deals and network. Opponents of the forum have always criticized that the WEF is only used as a framework for these backroom meetings. “You can do more business in four days in a private suite than in many months flying around the world,” said economist and author Peter Goodman.

For him, the most important week of the year follows: WEF founder Klaus Schwab will receive statesmen and business leaders in Davos from Monday.

Foto: Laurent Gillieron (Keystone)

WEF founder Klaus Schwab lamented one recently vicious circle – he considers a “lack of cooperation” to be one of the main reasons for the many crises. This becomes visible through short-sighted and selfish politics. The motto “Cooperation in a fragmented world” might hardly be more appropriate. (afp)