World Economic Forum gets underway in virtual format at Davos
The World Economic Forum in Davos, Switzerland, which began Monday, is being held virtually this year because of the coronavirus pandemic crisis, which Deutsche Welle notes has destroyed livelihoods and deepened global inequality. The portal writes that the annual summit aims to "heal the wounds of the pandemic" and contribute to a robust green recovery.
Other speakers at the virtual conference, which runs through Friday, Jan. 29, include German Chancellor Angela Merkel, French President Emmanuel Macron, Japanese Prime Minister Yoshihide Suga and Indian Prime Minister Narendra Modi. Chinese President Xi Jinping has already made an appearance.
The meeting is an opportunity for the PRC leader to present his vision of relations with the United States to newly sworn-in U.S. President Joe Biden - relations that, DW writes, have become increasingly strained under incumbent President Donald Trump.
Other speakers will include European Commission President Ursula von der Leyen, European Central Bank (ECB) President Christine Lagarde, and International Monetary Fund (IMF) Managing Director Kristalina Georgieva.
Held for more than 50 years, the event, which brings together world political and business leaders, celebrities and prominent social activists, comes at the time when the worst economic crisis has put millions of people out of work and exacerbated global inequality, DW points out.
The Davos Forum's latest annual threat study, published annually, concludes that the economic and social impact of the Covid-19 pandemic could lead to "social unrest, political fragmentation and geopolitical tensions." "We need an economic recovery that is "more resilient, more inclusive (social) and more sustainable" - Forum initiator Klaus Schwab told reporters.
Geopolitical tensions produced by the pandemic
The pandemic and uneven responses to the crisis have created geopolitical tensions. Governments have chosen to put national interests above others, unilaterally closing borders and hoarding food and medical supplies, DW writes. Nowhere has this approach been more evident than on the vaccine front, where rich countries have provided billions of doses - many times their population - while poor countries scramble for supplies, the portal notes.
World Health Organization (WHO) chief Tedros Adhanom Ghebreyesus, who will also speak at the Forum, warned that the world is on the verge of a "catastrophic moral failure."
The global fight over vaccines or "vaccine nationalism" threatens to prolong pandemics and delay the easing of global travel restrictions. Forum president Borge Brende stressed in a call with reporters that "we are all in the same boat and we would have to work together to really make progress."
Schwab noted that what the world needs now is a restoration of mutual trust. "We need to significantly strengthen international cooperation again and involve all stakeholders in solving the problems we face, and here we need to involve business first and foremost," he stressed.
Climate change also the theme of the Forum
Climate change has dominated the Davos meetings in recent years and, as DW points out, this year will be no different. Lockdowns imposed in many countries around the world to curb the pandemic resulted in a drop in greenhouse gas emissions last year, but experts fear that a rapid economic recovery and easing of restrictions later this year could lead to a rapid return of emissions.
"There is a concern that we are in danger of doing more damage as we seek a rapid return to (economic) growth to solve all socio-economic problems in the short term. "This is where political leaders need to find a balance," Forum managing director Saadia Zahidi told DW.
from Business Insider https://ift.tt/3a7900l
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