Davos, Jan 24 The 56th annual meeting of the World Economic Forum (WEF) here this week served as an essential and leading platform for convening decision-makers for consequential dialogue that enabled progress on the most challenging issues facing the world today.
According to the WEF, close to 3,000 leaders from across regions, sectors and generations from 130 countries came together, including a record 400 top political leaders, nearly 65 heads of state and government, a majority of G7 leaders, close to 830 of the world’s top CEOs and chairs, and almost 80 leading unicorns and technology pioneers.
“This is a moment of uncertainty, but also possibility; not a moment to retreat, but a moment to engage,” said Borge Brende, President and CEO, World Economic Forum.
“The World Economic Forum is not about responding to current events. It is about creating the right conditions that enable us to move forward,” Brende added.
Experts assessed the direction of US-China relations in the wake of the November trade deal, weighing its implications for global economic stability and geopolitical competition between the world’s two largest economies.
Another session identified urgent measures to bolster financial-sector resilience in the West Bank and Gaza amid economic pressures.
Religious leaders examined how interfaith engagement could contribute to stabilisation efforts in Gaza and inform peace-building approaches in other conflict-affected contexts, in line with the Gaza Peace Plan.
“But opportunities that are bigger and grander than ever before in human history are right before us,” said US President Donald Trump.
We need dialogue with our friends and partners and also, if necessary, with our adversaries, added Ursula von der Leyen, President of the European Commission. “The world has changed permanently and we need to change with it too,” she said.
The ‘Chief Economists’ Outlook’ offered a real-time snapshot of the global economic sentiment for the year ahead, noting the economy’s relative resilience amid turbulence and guiding leaders through uncertainty around asset valuations, sovereign debt crises, and the economy-wide roll-out of artificial intelligence (AI).
“AI is a tsunami hitting the labour market and, even in the best prepared countries, I don't think we are prepared enough,” said Kristalina Georgieva, Managing-Director, International Monetary Fund.
“I would advocate for the developing countries: build your infrastructure, get engaged in AI and recognise that AI is likely to close the technology divide,” said Jensen Huang, Founder, President and Chief Executive Officer, Nvidia.
According to the WEF, five Nobel laureates in economics presented their latest research and insights on the global economy. Leaders also cautioned against deepening fractures in the global trade system, particularly between some of the world’s largest economies, emphasising the mutual benefits of international trade.
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