2018 World Economic Forum Highlights
Each year, world leaders, economic experts, industry leaders, celebrities, and other keynote speakers gather to meet in Davos, Switzerland for the annual World Economic Forum. The official program lasts for five days and features more than four hundred sessions, which center discussion around key issues of global relevance, such as globalization, markets, international conflict, environmental issues, etc.
As of today, January 26th, the 2018 forum just wrapped up.
With the immense volume of information, it can be difficult to get a handle on everything that was discussed. As such, we’ve put together some of the big bullet points here for your leisure:
India’s Prime Minister, Mr. Narendra Modi, listed his three greatest threats to civilization: terrorism, climate change, and reactionary backlash to globalization.
The German Chancellor, Ms. Angela Merkel, stated that global multilateralism has come under threat, as populist movements sweep through countries.
Upon this point, Mr. Emmanuel Macron, the President of France, voiced his enduring support for Europe, stating that France would not succeed without greater European success.
Although Brexit may come to mind on the point of Ms. Merkel’s statement of deteriorating multilateralism, the UK Prime Minister – Ms. Theresa May assured attendees of Davos that the United Kingdom would remain an advocate of global trade, with plans for bilateral deals with countries worldwide.
United States President, Mr. Donald Trump, discussed the state of the US economy, saying that “America First does not mean America alone,” in the context of the thought that as the United States grows, so too will the rest of the world.
Alibaba founder Jack Ma spoke about the IQ of love – a subject that we have discussed previously on Centry Blog.
The International Monetary Fund raised its forecasts for global crown in 2018 and 2019 to 3.9%, in the wake of the impact of the recent US tax reforms. These new estimates are 0.2 percentage points higher than the IMF’s previous projections in autumn of 2017.
Google CEO Sundar Pichai emphasized the importance of artificial intelligence, saying that despite the risks, the potential benefits of it could not be overlooked.
China’s three big movements for the future, as outlined by Mr. Liu He, will be: alleviating poverty, preventing major financial risks, and reducing pollution.
In light of the Davos forum, the WEF released this year’s risk report, outlining ten significant risks in terms of likelihood and impact. See Figure 1 below.
Figure 1. WEF 2018 Risk Report
It should be noted that within the top 5, just behind natural disasters, the threat of cyberattacks and data breaches pose a remarkable risk to individuals and organizations worldwide. For an additional perspective on the landscape of geopolitics on the cyber field, be sure to read our article on how Cyber is the New Cold War, written by Centry CTO Dave Ehman.
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