World and business leaders all other the world will be converging at the Swiss ski resort of Davos in the next few days as the world Economic Forum commenced.
This year’s World Economic Forum tagged Globalism 4.0 is obvious out of tune with the current reality facing the economic world today in terms of the fears of a new global recession, volatile markets, Brexit chaos, government shutdowns and storms of trade wars going on in the world today.
In a survey carried out by The Conference Board among global CEOs on their may concern for the year 2019, their number one fear was the risk of a global recession occurring this year.
Secondly there are worries of the possibility of a global political instability which is capable of disrupting trade globally in 2019. There is a general fear of horrible policy and political institutions which can cause a total international turbulence in the business world for the year 2019.
Calming these fears is one of the major objectives of political and business leaders as they converge at Davos at the World Economic Forum.
The World Economic Forum 2019 in Davos is attended by notable world political and business leaders which include, Bill Gates, worldwide web inventor Sir Tim Berners-Lee, Israeli Premier Benjamin Netanyahu, Brazil’s new President Jair Bolsonaro, Japanese Prime Minister Shinzo Abe and the German Chancellor Angela Merkel.
There are also many notable high-profile absentees which include leaders of the world’s top two largest economies. Donald Trump cancelled plans for a US delegation to attend this year World Economic Summit due to the ongoing government shutdown while President Xi Jinping is also absent as a result of a slowing Chinese economy.
The UK Prime Minister, Theresa May and French President Emmanuel Macron are also among the absentees as a result of domestic turmoil in their countries. There is also a last minute decision to shun the World Economic Forum in Davos by the Saudi Arabia Energy Minister, Khalid Al-Falih.
Among the notable issues to be discussed at the World Economic Forum is the environmental challenges and how it is affecting the world’s economy with the imminent failure of past summits to proffer workable solutions to the issue of environmental degradation and climate change.
At the opening ceremony in Davos, Sir David Attenborough told world leaders in attendance work toward the provision of a practical and workable solution for the prevention of climate change in the world.
Whatever the solutions to the provided, it is obvious that the Swiss ski resort will have to bear the brunt of about 1,500 private jets which world political and business leaders will be travelling with to the World Economic Forum. This is a record which hardly tallies with a genuine effort toward reducing climate change.
