Next week, the economic and political elite will once again gather in Davos, a mountain village in Switzerland, for the annual World Economic Forum (WEF). This time, the meeting is not so much overshadowed by the coronavirus, but by the purchasing power and energy crisis that threaten global economic growth.
Founded by German economist Klaus Schwab, WEF has been bringing together top politicians, business leaders and NGOs for more than 50 years as the largest public-private event in the world. Proponents call the organization a super think tank where ideas are exchanged at a high level and, above all, contacts are made. Belgian politicians also take the opportunity to catch up with their foreign colleagues or to negotiate new investments for our country. Critics talk about an elitist club, a “talking barrack” where an atmosphere of “us knows us” prevails.
In recent years, the corona virus has thrown a spanner in the works of the organization more than once. In January 2020, another full WEF took place, but the following year there was no physical meeting. Last year, the summit was postponed to May again due to the advancing omikron variant of the virus.
So now it’s time to gather again for a WEF in the snow, from January 16 to January 20. This year’s theme is “Cooperation in a Fragmented World”.
2,700 participants
Some 2,700 participants are expected, a record number, Schwab announced this week. Some 50 heads of state and 1,500 business leaders were among the participants. But a lot of well-known heads are missing. Not US President Joe Biden, or his Brazilian colleague Lula da Silva. French President Emmanuel Macron has also not yet confirmed. China only sends its Vice Premier Liu He. The Russians – unsurprisingly – excel in their absence. And Elon Musk, the world’s most famous billionaire, is not coming to Davos either.
Present are, among others, European Commission President Ursula von der Leyen, German Chancellor Olaf Scholz, NATO Secretary General Jens Stoltenberg, ECB President Christine Lagarde, American politician John Kerry and South African President Cyril Ramaphosa. Federal Prime Minister Alexander De Croo and Flemish Prime Minister Jan Jambon will travel to Davos for our country, as will Foreign Minister Hadja Lahbib and Deputy Prime Minister Petra De Sutter. Several Belgian business leaders will also be present, including the CEO of the port of Antwerp and Zeebrugge, Jacques Vandermeiren. A delegation from Ukraine would also come to Davos, but the composition is not yet known.
Changing mindset
According to Schwab, “Davos should help change our mindset as the world faces several crises.” The Global Risk Report even warns of the risk of a ‘polycrisis’, where several major challenges converge and reinforce each other. “That creates an extremely volatile and uncertain future,” said Schwab. Governments must work together to avoid “unprecedented social unrest”.
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