The World Economic Forum’s meeting will take place from 15-19 January in Davos
Davos, the Swiss ski resort, will host billionaire business people, philanthropists, government leaders, and other officials this week under the geopolitical tensions that pose a threat to widen the gap in the world order.
It will be attended by over 2,800 business and industry leaders who will be further encircled by the Israel-Hamas war and the Houthis attack on container vessels in the Red Sea, which has disrupted a pivotal global trade route.
The World Economic Forum’s meeting will take place from 15-19 January. The topics discussed in the pre-meeting media cover a wide range of economic and security aspects.
War & Conflict
The Russia-Ukraine war has been continuing over the previous year’s annual WEF meeting at Davos. Last year, Ukraine garnered widespread support from its European counterparts.
A meeting of security advisers is expected to lead the pledges for support while pressing for the need to bring Russia and Ukraine to the negotiating table. Last week, the Sunak administration pledged $3.19 billion of aid for Ukraine.
The war in Gaza against Hamas and the Red Sea attacks will be at the forefront of panel discussions throughout the meeting.
US Secretary of State Antony Blinken, French President Emmanuel Macron, and several other leaders from the Gulf region will be addressing the war. Isaac Herzog, Israeli President, and leaders from nations like Jordan, Lebanon, and Qatar, are also expected to attend the meeting.
Climate Change
This topic has been at every other meeting or summit held anywhere in the world over some years. It is also a major theme across sessions and stages as to how the world will collectively handle the climate crisis.
Special emphasis will be given to the threat of permafrost, which eventually leads to rising sea levels, endangering small islands and coastal cities like New York City, Shanghai, Tokyo, and many others. A transition from renewable sources of energy to other cleaner sources is among the major themes.
The World Economic Forum launched a pre-event Global Risks Report that warned that the progress in human development is endangered by disinformation and extreme weather conditions that pose a greater threat.
Artificial Intelligence
How can it be that artificial intelligence (AI) doesn’t land on the theme list of any major global meeting or forum?
Susheel Sethumadhavan, lead analytics practice at American global management consultancy firm Kearney, said that there will be a special focus on how AI can help counter challenges like poverty, net-zero emissions, and other global problems.
He cautioned that the interaction between businesses and their customers will change drastically because companies are trying to hyper-personalize their products and services based on the choices and preferences of their customers. Simultaneously, some of these interactions can also turn out to be unwanted and interfere with consumers’ personal lives.
Global Economy
A highly calculated and anticipated recession in the United States was dodged by a close call. This has split experts as to whether this can happen again this year, as 2024 is highly uncertain in terms of the economic aspects arising from the US presidential election at the end of the year.
The world’s second-largest economy, China, will be releasing its full-year GDP figures for 2023 on Wednesday. It is expected to achieve its 5% growth target. However, it is suspicious whether it will grow at the same pace in 2024 as well.
The World Economic Forum’s meeting will be attended by several central bankers, heads of financial institutions, and business leaders who will discuss the challenges in countering the global economic viewpoint, changing monetary stance, rising debt levels, etc.
The Davos meeting, a closely observed event, will be the private Financial Services Governors Meeting on Jan 17. This will be attended collectively by 100 chairpersons and chief executives from banking, insurance, markets, and asset management.