The upcoming WEF seeks to change the global agenda from competition to cooperation
By next week, the greatest migration of intellectual and financial capital will begin its annual flight to Davos. The theme chosen by the World Economic Forum (WEF) is ‘The New Global Context’ and reflects a period of profound political, economic, social and technological change that the world has entered. The four-day event will evaluate the immediate and long-term implications of critical trends, including escalating geopolitical tensions, the expected normalisation of monetary policy, and the economic and social repercussions of unabated climate change, youth unemployment and income inequality.
The sessions address a range of issues of contemporary relevance, but revolve around what the WEF believes are key to the future of the planet. One being the impact of emerging economies growing more powerful and assertive, both regionally and globally. The other key issue will be on whether global governance will stall as United States leadership weakens.
The WEF has already come out with its Outlook on the Global Agenda 2015, which looks ahead at the key economic trends to watch. Topping that list is deepening income inequality. The other trends are: persistent jobless growth; lack of global leadership; weakening of representative democracy; rising pollution in the developing world; increasing occurrence of severe weather events; intensifying nationalism; increasing water stress and tackling deadly diseases like Ebola. The trends and issues for discussion shows that global cooperation and inter-dependence rather than competition and conflict is the key to whether these challenges can be tackled with any degree of success.