World Economic Forum

  • January 16, 2023
  • Posted by: OptimizeIAS Team
  • Category: DPN Topics
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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.
International Relations WORLD ECONOMIC FORUM