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World Economic Forum 53rd edition to start at Davos, Switzerland

World Economic Forum 53rd edition

Today marks the start of the 53rd World Economic Forum (WEF) in Davos, Switzerland. The meeting will go on through January 20. The WEF meeting’s 2018 theme is “Cooperation in a Fragmented World.” The gathering of professionals, academics, investors, and political and commercial leaders will discuss and support creative solutions for some of the most serious problems confronting the world today, such as the climate change, global inflation, and the Russia-Ukraine situation.

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World Economic Forum 53rd edition: Key Points

  • It is anticipated that global leaders would discuss their perspectives on the current state of the global economy.
  • The prospect of a recession, the cost of living crisis, and financial strain are expected to dominate the future for at least two years, according to the WEF’s annual Global Risks Report.
  • European Commission President Ursula von der Leyen, German Chancellor Olaf Scholz, President of the European Parliament Roberta Metsola, Presidents of South Africa Cyril M. Ramaphosa, Spain’s Pedro Sanchez, South Korea’s Yoon Suk-yeol, Switzerland’s Alain Berset, and Finland’s Sanna Marin are among the world leaders attending the meeting.
  • India’s top leaders are anticipated to take a significant part in the summit.

Importance of World Economic Forum 53rd edition

They observe the numerous political, economic, and social pressures causing growing fragmentation on a global and national basis, according to WEF Founder and Executive Chairman Klaus Schwab. He claimed that strengthening cooperation between the public and private sectors is necessary to address the underlying reasons for this trust erosion and to set the stage for a robust and long-lasting recovery.

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