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DAVOS

Reviving global growth tops Davos agenda

Reviving the global economy and the conflicts in Syria and Mali will top the agenda as world leaders and business chiefs meet this week in the Swiss ski resort of Davos for its annual gathering of international power brokers.

Published: 20 January 2013 16:44 CET
Reviving global growth tops Davos agenda
World Economic Forum founder Klaus Schwab. Photo: Fabrice Coffrini/AFP/File

Some 45 heads of state or government will keep company with the 2,500 participants descending on the picturesque Alpine town for the five-day World Economic Forum starting on Tuesday.

Russian Prime Minister Dmitry Medvedev, German Chancellor Angela Merkel and British Prime Minister David Cameron will deliver speeches expected to focus on efforts to maintain the nascent pickup in global economic activity.

The event kicks off Tuesday night with Hollywood actress Charlize Theron providing a bit of sparkle as she accepts an award for her work supporting African youth in the fight against AIDS.

The eurozone crisis is likely to take centre stage the rest of the week, but unlike last year — when fears of a eurozone collapse remained very real — this year's meeting takes place amidst guarded hope that Europe is finally tackling its debt woes.

Italian Prime Minister Mario Monti and European Central Bank President Mario Draghi will speak on the way forward for the eurozone, while International Monetary Fund chief Christine Lagarde will address methods of generating stable growth.

Noticeable by their absence will be high-profile officials from either China or the United States, though US Senator John McCain will be on hand for a panel on the future of conflict-torn Syria.

The war in Syria and security issues throughout the Middle East and Africa will be on the table, with Jordan's King Abdullah II making a special address.

The premiers of Egypt, Lebanon, Libya, Tunisia and the Palestinian Territories are due to attend, as well as Israeli President Shimon Peres.

Though too fresh to make it on the official agenda, France's ongoing military intervention against Islamist rebels in Mali and the fallout from the Algerian hostage crisis will also be key talking points.

Nigerian President Goodluck Jonathan, whose country will lead a West African ground force heading to join French troops in Mali, will share the stage with South African leader Jacob Zuma for a panel on risks in the continent.

UN chief Ban Ki-moon will speak on the outlook for global development, joined on a panel with Cameron, Microsoft founder Bill Gates and Jordan's Queen Rania.

More than 900 top business executives are expected to attend, with this year's forum co-chaired by the CEOs of Coca-Cola, Embraer, UBS, Dow Chemical and the head of Transparency International.

One CEO pencilled in to take part, former Rio Tinto head Tom Albanese, is unlikely to show up following his resignation on Thursday after the global mining giant announced a $14-billion write-down.

Organisers have said the theme of this year's forum — "Resilient Dynamism" — focuses on how the global economic system can withstand and quickly recover from sudden shocks, like the eurozone crisis.

The role of women in economic decision-making will also be highlighted in a panel featuring, among others, Lagarde and Facebook Chief Operating Officer Sheryl Sandberg.

As well as politics, diplomacy and business, discussions will be held on "mega sporting events", jazz music, religion in the 21st century, education and the fight against obesity.

Founded in 1971 by German economist Klaus Schwab, now 74, the Davos forum has become a not-to-miss gathering for the global elite, with participants shelling out tens of thousands of euros on attendance fees, travel and accommodation.

The invitation-only meeting is also known for its informal luncheons and cocktail parties, often hosted by corporate sponsors and with exclusive guest lists, where political and business leaders can rub shoulders and network.

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DAVOS

Switzerland: 2021 Davos summit shifted to Lucerne in May

The World Economic Forum announced Wednesday that its postponed 2021 Davos summit, themed as "The Great Reset" in the coronavirus crisis, will take place in Lucerne, Switzerland from May 18 to 21.

Published: 8 October 2020 09:25 CEST
Switzerland: 2021 Davos summit shifted to Lucerne in May
Participants at the World Economic Forum at Davos in 2020. Photo: FABRICE COFFRINI / AFP

The annual gathering of the world's political, economic and business elite traditionally takes place in January against the idyllic snowy backdrop of the Swiss Alpine village of Davos.

But it was postponed due to the Covid-19 pandemic and, charged with remodelling the world economy in the wake of the crisis, will now be held 125 kilometres (75 miles) away in the plush Burgenstock resort overlooking Lake Lucerne.

“The meeting will take place as long as all conditions are in place to guarantee the health and safety of participants and the host community,” WEF spokesman Adrian Monck said in a statement.

“The meeting will focus on the solutions required to address the world's most pressing challenges. “Global leaders will come together to design a common recovery path, to shape 'The Great Reset' in the post-Covid-19 era and rebuild a more cohesive and sustainable society.”

Hybrid format

The WEF announced in June that the 51st edition of its annual meeting would take place in a hybrid format, then in August said it was being delayed for several months to reduce any risks to participants from the coronavirus pandemic.

The Lucerne summit will combine both in-person and virtual elements, with participants linked to a network of around 400 hubs worldwide to incorporate dialogue with the WEF's “young global shapers, to ensure openness and inclusion”, said Monck.

The summit will be preceded during the week of January 25 by digitally-convened high-level “Davos Dialogues”, when global leaders will share their views on the state of the world in 2021.

The novel coronavirus has killed more than 1.04 million people while at least 35.5 million infections have been recorded since the outbreak emerged in China late last year, according to a tally from official sources compiled by AFP.

The pandemic has also triggered a global economic downturn, though the International Monetary Fund said Tuesday that while it is far from over, it will not be as bad as originally feared thanks to a flood of government spending.

The World Trade Organization said likewise, forecasting a global trade contraction of 9.2 percent this year, rather than its previous “optimistic scenario” prediction of 12.9 percent.

But global trade will then grow by only 7.2 percent next year, rather than the previous 21.3-percent estimate issued in April, the WTO added.

Swiss cases rising

The WEF announcement comes as Switzerland announced Wednesday that daily coronavirus cases had jumped over the 1,000-mark for the first time since April 1, when the peak of the pandemic's initial wave began to recede.

Swiss Health Minister Alain Berset has urged the country to “get a grip” and be more rigorous in applying the basic measures to control the spread of the virus.

The 2020 edition of the WEF summit, hosted in January just as the world was beginning to become aware of the new coronavirus spreading in China, drew more than 50 heads of state and government to Davos.

It focused on themes of sustainability and finding a more inclusive model for capitalism. US President Donald Trump and Swedish teenage eco-warrior Greta Thunberg were among its top speakers.

The WEF said it aims to be back in Davos for 2022.

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