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The annual meeting of the World Economic Forum (WEF for short) remains political to the end: European Central Bank (ECB) Director Christine Lagarde (68) strikes a combative tone at the traditional panel on the global economic outlook. “Attack is the best defense,” she says, referring to a possible Trump re-election. “To be able to attack, we need to be strong at home and strengthen our common European market.”
The Magic Mountain in Davos is now in the hands of locals and tourists again, with the rich and powerful returning to the plains or their own countries. Many are of the opinion that the name of the next US President will be Donald Trump (77). So Lagarde’s concerns are justified.
Little economy and environment
Unfortunately no one did any magic in Davos this year either, the problems are the same as at the beginning of the week. One minor typo remains: this year WEF would have to be shortened to WeF with a lowercase e. This year, “Economic”, that is, economy, was written in lowercase letters. The global economy is not in crisis; the only concern is supply chains that may be affected by the war in the Middle East.
Rising interest rates, inflation, weak economic growth; Yesterday’s snow washed away by the Davos rain. E can also mean “environment”. Because climate change had no place on the big stage in the 2024 edition of Davos. The result is a lively debate about world warming in small forums, participants say.
If anything, E stands for “ascension.” Because it threatens the Middle East. Just like in Ukraine, if it is not possible to stop neo-tsarist Vladimir Putin (71). Dominated by geopolitical crises that threaten peace in more and more parts of the world, the WEF was more political than it had been in a long time. The current situation of the world has turned the WEF into a WPF, the World Political Forum.
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This year’s event was shaped by two politicians: Volodimir Selenski (45) and Javier Milei (53). At the end of his statement on the dramatic situation in Ukraine and the need for more support in the fight against the Russian aggressor, the Ukrainian president received a standing ovation; The reason for this was that the former comedian still had not lost his sense of humor. However, their demands remained unanswered and Zelensky returned home empty-handed.
Argentinian President Milei launched a verbal swipe at socialism, feminism and environmentalism. Excited voices rose from the audience; The former professor’s extremely liberal ideas were welcomed by some of his colleagues. But that wasn’t the case for most women, who made up 28 percent of all participants this year. Equality at the WEF – this will take some time.
Right at the beginning of the WEF, one woman set a counterpoint and sympathized with many people’s concerns: Viola Amherd (61). It is no wonder that distrust in the business world and politics is growing. In his opening speech, the Federal President said: “We are not at the mercy of negative tendencies, we can break them. Trust and hope can be gained. We have to do this. That’s what we’re here for. Let’s work!”
There is no way to overcome artificial intelligence
For example, when it comes to building trust, there are two letters that are obvious in Davos: KI. Besides politics, artificial intelligence was the second dominant topic. Although many business leaders have not fully shared the enthusiasm at all the event venues on the Davos esplanade and cautioned against inflated expectations, it is clear (for now) that AI is here to stay.
«It’s not artificial intelligence that’s stealing your job. It is your AI colleague who will get your job,” one panel heard. This means we need to use our own intelligence to counter the dangers of AI and take advantage of the opportunities of the fourth revolution in computing technology.
In his closing remarks, WEF President Borge Brende (58) called for international – political – cooperation in the face of major challenges: “There is no company or country isolated from global shocks,” said the former Norwegian minister. “We had 350 heads of state and ministers here. We created a new spirit of solidarity. “We continue our tradition of opening space for diplomacy,” he said.
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
