Analysis: This year’s World Economic Forum theme, a plaintive appeal to find “cooperation in a fragmented world,” seems possessed by ruptures that have taken place around the world.
,” of a world buckling under a never-ending cascade of calamity — war, climate catastrophe, energy price chaos, inflation, epidemics of hunger and disease, political instability and widening economic inequity. This year’s WEF theme, a plaintive appeal to find “cooperation in a fragmented world,” seems more possessed by the ruptures that have already taken place.
All of this, the classically liberal Economist argued, has “set off a dangerous spiral into protectionism worldwide” and frays the global order that the United States spent decades creating and securing in the aftermath of World War II. It may even imperil “the causes of liberal democracy and market capitalism.”The kickoff panel Tuesday morning, featuring economic historians Adam Tooze and Niall Ferguson, is set to ponder “de-globalization or re-globalization.
“People are becoming more siloed,” he said. “In the long run, we are concerned about the costs of trade going up.” The forum estimates that this year’s attendance involves the highest numbers of political and business leaders ever to make the trip up the mountain, including more than 50 heads of state or government, 56 finance ministers, 19 governors of central banks, 30 trade ministers and 35 foreign ministers.
But conspicuous in their absence are the bulk of the leaders of the world’s major economies. German Chancellor Olaf Scholz will be the only leader of a Group of Seven nation to make an appearance, with his European counterparts likely keen to avoid the optics of glad-handing with the global elite while their publics cope with cost-of-living crises at home. The top officials from the Biden administration are U.S. climate envoy John F. Kerry and U.S.
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