Wars could cast shadow on WEF summit in Davos

Henry

The ongoing wars in Gaza and Ukraine will probably cast a shadow on the World Economic Forum (WEF) summit, which will be held from January 15 to 19 in Davos, Switzerland. The world’s leading political and business leaders will gather next week for this summit.

Russia’s attacks on Ukraine, which have been ongoing for almost two years now, were at the center of the previous summit, with Kiev sending officials and lawmakers to Davos with the aim of drumming up support for funding and more weapons.

National security advisers on the so-called “Ukrainian peace formula” will meet in Davos on Sunday with that country’s president, Wladimir Zelensky, attending the summit in person for the first time.

In addition to Ukraine, the summit will now also have to deal with concerns that Israel’s war with Hamas could turn into a full-scale regional war.

The war is already having a significant impact on trade worldwide, with Houthi rebels attacking commercial cargo ships in the Red Sea in support of Hamas.

This led to airstrikes by the USA and Britain on Friday morning.

Other issues on the agenda include climate change, the high cost of living crisis, business issues and poor economic conditions. This will all be handled under one theme namely “Rebuilding Trust”.

“The meeting is taking place under the most complicated geo-political and geo-economic conditions in decades,” the WEF president, Borge Brende, said on Friday.

More than 60 political figures such as Antony Blinken, the US Secretary of State; pres. Emmanuel Macron of France; Isaac Herzog, the Israeli president, and several other leaders from the Middle East will attend the summit.

“We know that the war in Gaza continues and that there are concerns that the war could escalate. The summit will determine how further deterioration can be avoided,” Brende continued.

Ukraine is likely to continue its calls for continued Western aid, with Zelensky himself meeting with leaders and businessmen.

What could further complicate the summit are the trade and diplomatic tensions between the US and China, as well as major elections taking place this year in several countries, including Britain, India and the US.

The WEF said on Wednesday that incorrect and unreliable information driven by artificial intelligence is among the biggest risks in the run-up to elections worldwide.

The summit takes place over five days, with around 800 CEOs from the business sector and more than 2,000 other participants attending.

Some 5,000 Swiss soldiers have been deployed who will secure the summit participants while fighter jets will carry out aerial patrols.