World Economic Forum

World Economic Forum

Subject: International Relations

Sections: Economics/International Organisations

Concept :

• The 53rd annual meeting of WEF is going to start at Swiss ski resort town with thousands of participants, including about a hundred from India set to discuss ‘cooperation in a fragmented world’.
• The theme of the 53rd Annual Meeting would be ‘Cooperation in a Fragmented World‘ and it will convene more than 2,700 leaders from 130 countries, including 52 heads of state/government.
• The programme of the 53rd Annual Meeting focuses on solutions and public-private cooperation to tackle the world’s most pressing challenges and there will be special emphasis on gender and geographical diversity across all sessions.

World Economic Forum

• The World Economic Forum (WEF) is an international organization headquartered in Geneva, Switzerland.
• It brings together members of political and business leaders each year to discuss major issues that impact the global economy.
• Mission: Committed to improving the state of the world by engaging business, political, academic, and other leaders of society to shape global, regional, and industry agendas.
• These include but are not limited to political, economic, social, and environmental concerns.
• Davos: The WEF is best known for its annual World Economic Forum Meeting at Davos, the Swiss ski resort.
• The event regularly draws business and political leaders from around the world for a series of discussions about global issues.
• The WEF has no independent decision-making power, but seeks to influence powerful people to make decisions that benefit the global community.
• The organization is funded through its own membership, which includes many prominent business and political figures.

Some major reports published by WEF are:

• Energy Transition Index.
• Global Competitiveness Report.
• Global IT Report (WEF along with INSEAD, and Cornell University publishes this report).
• Global Gender Gap Report.
• Global Risk Report.
• Global Travel and Tourism Report.

World Economic Forum (WEF) and the Great Reset

• A major theme in recent WEF publications and events is the concept that the global economic, political, and social order must go through a “Great Reset” in the face of technological progress, environmental concerns, and the economic destruction resulting from the COVID-19 pandemic.
• The Great Reset includes a wide range of suggested reforms linked to economic, societal, geopolitical, environmental, and technological concerns.
• The reset calls for massive redistribution of wealth and the reduction of competition, creative destruction, and economic growth in favor of collective goals, government control, and social welfare.