Davos 2024: Putin and Trump Loom Over World Economic Forum
The Elephant In The Swiss Alps
In the snow-kissed grandeur of Davos, Switzerland, the World Economic Forum (WEF) convened its 54th annual meeting in January 2024. This year’s gathering, however, was overshadowed by the looming presence of two notable absentees: Russian President Vladimir Putin and former US President Donald Trump. Despite their physical absence, their political specters cast long shadows over the discussions and deliberations that took place amidst the backdrop of geopolitical tensions and economic uncertainties.
Putin’s Pariah Status: A Reflection of International Condemnation
Once a respected figure gracing the Davos stage, Vladimir Putin has become a persona non grata in recent years. His aggressive actions in Ukraine and Crimea have earned him the ire of the international community, resulting in his exclusion from the guest list. This absence served as a stark reminder of the global condemnation his policies have garnered.
Trump’s Potential Return: A Cause for Concern
Donald Trump’s looming presence at Davos stemmed from his victory in the Republican caucuses in Iowa, signaling his potential return to the White House in the upcoming US presidential election. His agenda, which includes ending the war in Ukraine within 24 hours, prioritizing American interests, and retreating from globalization, stands in stark contrast to the prevailing Davos orthodoxy. This potential shift in US foreign policy has raised concerns among world leaders and business executives alike.
Calls for Action: Seizing Russian Assets and Supporting Ukraine
Against the backdrop of the ongoing war in Ukraine, prominent figures at Davos, including Kremlin critic Bill Browder, urged Western governments to seize Russian central bank reserves to fund Ukraine’s reconstruction. This move, seen as a safeguard against a potential Trump presidency, aims to ensure Ukraine’s continued defense and eventual victory.
UK Politics: Sunak’s Absence and Labour’s Charm Offensive
British Prime Minister Rishi Sunak’s absence from Davos was attributed to the government’s difficulties in passing the Rwanda bill in parliament. In his stead, Labour Party representatives, including shadow chancellor Rachel Reeves and shadow business secretary Jonathan Reynolds, embarked on a charm offensive, portraying Labour as a government-in-waiting and seeking to reassure businesses of their commitment to economic stability.
AI: A Burgeoning Presence and Concerns
Unlike Putin and Trump, the burgeoning artificial intelligence (AI) sector was a prominent feature at Davos. Tech executives and experts highlighted the potential benefits of AI while also expressing concerns about its responsible use and the risks of disinformation, particularly in the context of the upcoming US election.
IMF’s Warning: Disinformation as a Driver of Mistrust
International Monetary Fund (IMF) head Kristalina Georgieva emphasized the need for governments to address the risks of AI and disinformation. She highlighted the significant and potentially severe risks of disinformation, particularly in the context of the US election, and its role as a driver of mistrust.
UK’s Approach to AI: A Light Touch
British Chancellor Jeremy Hunt, who arrived in Davos after a delayed flight due to the Rwanda vote, advocated for a “light touch” approach to regulating AI. He emphasized the need to harness AI as a force for good and expressed the UK’s welcoming stance towards AI and its tech evangelists.
Looking Ahead: Uncertainties and the Next Davos Summit
The mood at the next World Economic Forum in 2025 will be heavily influenced by the outcome of the US presidential election in November 2024. Elections in countries representing more than 40% of the world’s population will also take place in 2024, adding to the uncertainties surrounding the global landscape.
The Davos Conclave: A Reflection of a World in Flux
The 2024 Davos gathering served as a microcosm of the complex challenges facing the world today. The absence of Putin and Trump, the rise of AI, the ongoing war in Ukraine, and the upcoming US election all contributed to an atmosphere of uncertainty and apprehension. Yet, amidst these challenges, there was also a sense of resilience and a determination to find solutions. As the world looks ahead to the next Davos summit, it is clear that the decisions made in the coming months will have a profound impact on the shape of the global landscape for years to come.