Why there is a place (and room for improvement) for Davos in global politics
Photo by Evangeline Shaw on Unsplash
Nestled in the snowy town of Davos, Switzerland, thousands of leaders from across the world gathered for the World Economic Forum (WEF) this January, under the banner “Cooperation Under A Fragmented World”. This annual event brings together business leaders, politicians, academics and other experts from over 130 countries around the world to discuss and address pressing global issues.
“The world today is at a critical inflection point. The sheer number of ongoing crises calls for bold collective action,” the WEF said in a press release. “The Annual Meeting convened leaders from government, business, and civil society to address the state of the world and discuss priorities for the year ahead. “It provided a platform to engage in constructive, forward-looking dialogues and help find solutions through public-private cooperation.”
Davos explained
Davos is the flagship event of the WEF, a non-profit organization based in Geneva, Switzerland. It was founded in 1971 by Klaus Schwab, a German economist. The WEF’s mission is to improve the state of the world by engaging leaders from all sectors of society to shape global, regional, and industry agendas.
Davos is widely considered to be the premier forum for discussing and addressing global economic, social, and political issues.
What was discussed at Davos 2023?
According to this report by Reuters, the main discussions of the Davos Summit was as follows:
The economy - there is “cautious optimism” for the outlook of the year, despite gloom and doom when the event started.
Ukraine - Davos spoke about the importance of financial support and better weapons for Kyiv to, according to the report, defend itself against Russia. Fears of economic downturn amid the crisis were also discussed.
Trade - Europe, the United States and China discussed their new industrial policies.
Climate - Carbon and renewable energy were discussed, with oil executives present. Fossil fuel producers were also encouraged to invest in green energy.
This is, of course, a condensed version of what was discussed at Davos, but you can read more details of events and decisions that occurred here.
Why there is a need for summits like Davos
As is to be expected, the events and discussions that occur both at Davos and similar events are not without criticism. The Summit has come under criticism for the perceived lack of action and impact on the part of its participants. Critics also argue that events such as Davos are dominated by elite individuals and organizations.
I do not think that criticism against any initiative is necessarily a bad thing. Davos, for example, exists as a platform for discussion and debate, and as long as events such as Davos can listen to and improve based on criticism, they should absolutely take place. For example, take a look at their open forum that featured voices from communities who are least represented in global business and government.
The Summit also heard from those vulnerable to climate change and other global shocks. Davos also doesn’t shy away from or ignore criticism, but appeals to world leaders to make a positive change. Here, for example, we read that:
“[...]Leaders must listen [to those vulnerable] and take action. While the world is preparing adaptation and mitigation strategies, those in power must ensure representation at every level – from grassroots to national policy-making – so that solutions are relevant to people’s lives.”
One must remember that, ultimately, the WEF and events like Davos have no actual power in decision-making. It is merely a platform where those in power can meet, discuss and debate. If not on a global stage that attracts the eyes of the world and encourages debate and positive change, then where?
What are your thoughts; how should political leaders go about these political discussions?
