The 53rd edition of the annual World Economic Forum summit at the Swiss town of Davos will begin from Monday, i.e January 16.
The five-day long conclave featuring business leaders, political figureheads, investors and academics is being held physically for the first time in three years. More than 2,700 delegates are expected to convene at Davos during the mega summit.
The theme of this year’s meet is ‘Cooperation in a fragmented world’. Besides this raging issues like the Russia-Ukraine war, global recession, climate change and spike in the cost of living are among the key issues to be discussed.
Here are 10 things you need to know all about the 2023 WEF summit.
2. This year, German chancellor Olaf Scholz is the only G-7 leader attending. UN chief Antonio Guterres will also attend the forum. Ukrainian president Volodymyr Zelensky, who is resisting Russian invasion for nearly a year, will appear via video link on Wednesday for an interview, AFP reported. A delegation of the Ukrainian government will travel to Switzerland.
3. US President Joe Biden will not be attending the event. Washington DC is sending labour secretary Marty Walsh, trade representative Katherine Tie and FBI director Christopher Wray.
4. Chinese vice-premier Liu He will be attending the WEF summit in Davos. His visit assumes significance owing to China’s muscle flexing in Taiwan and hostilities with the US.
5. The other political leaders include the heads of European Union, NATO, Greece, Spain, Phillippines, South Korea, South Africa and Finland.
6. Russia is expected to miss out for the second time as well. There will be no Russian oligarchs this time due to stringent sanctions imposed on them by the West due to the Ukraine war.
7. The turmoil in crypto world could mean lesser new-age financiers turning up at the event. Still, several panels will be devoted to the future of crypto and digital currencies and a group of token enthusiasts have organised an adjacent “blockchain hub” that includes an NFT gallery dedicated to digital art.
8. The world leaders are expected to share their insights on the prevalent economic conditions across the globe. According to the WEF’s annual Global Risks Report, recession threat, cost-of-living crisis and debt distress is likely to dominate the outlook for at least two years.
9. The Russia-Ukraine war and US-China conflict are likely to dominate political discussions. Besides this, Chinese president Xi Jinping’s efforts to lead his country back to normalcy will also keenly watched.
10. Last but not the least, Covid-19 pandemic will be one of the key focus areas. The chief executive officers of vaccine manufacturers Moderna and Pfizer will speak and a panel is set to be dedicated to discuss how fast vaccines can be created the next time a pandemic hits.