It`s time for the world leaders to come together in Davos once again. The World Economic Forum (WEF) is the Organization for Public-Private Cooperation. The Forum engages the foremost political, business, cultural, and other leaders of society to shape global, regional, and industry agendas.
The WEF agenda is scheduled to be held between January 25 and 29. Mukesh Ambani, Anand Mahindra, Union Ministers Nitin Gadkari, Piyush Goyal, and others will attend the online event. The decision to host the event online comes amidst the Covid 19 pandemic situation, but WEF will host its physical annual meeting in May in Singapore.
As the WEF writes in its statement, the pandemic has accelerated systemic changes that were apparent before its inception. The fault lines that emerged in 2020 now appear as critical crossroads in 2021.
They will talk about «How to save the world,» and topics around that issue will be Covid 19 and climate change. Fairer economic; financial and monetary systems of different countries. Tech for good; big data and other tech disruptions. Society and future of work; remote work culture and gender parity. Better business, healthy future, and beyond geo-politics.
The «Davos Agenda» will also mark the launch of WEF`s Great Reset Initiative and begin the preparation of the special Annual Meeting during the spring.
The world economy is in bad shape and it can be worse. Professor Roubini predict a Great depression, not only for 2020, but for the decade of the 2020`s. What does this crisis we`re in really mean? For someone out there it means a great opportunity. It means a great reset.
«The Great Reset» will be the theme of a unique twin summit to be convened by the World Economic Forum in January 2021. In-person and virtual dialogues will address the need for a more fair, sustainable and resilient future, and a new social contract centred on human dignity, social justice and where societal progress does not fall behind economic development.
Founder and Executive Chairman of WEF, Klaus Schwab wrote in his article called «The time for a great reset» that there is a good reason to worry: a sharp economic downturn has already begun, and we could be facing the worst depression since the 1930`s.
But, while this outcome is likely, it is not unavoidable.
Furthermore, Claus wrote this; to achieve a better outcome, the world must act jointly and swiftly to rewamp all aspects of our societies and economies, from education to social contracts and working conditions.
Every country, from the United States to China, must participate, and every industry, from oil and gas to tech, must be transformed. In short, we need a «Great Reset» of capitalism.
The crisis we`re in, together with COVID-19, will deepen and leave the world even less sustainable, less equal, and more fragile. Incremental measures and ad hoc fixes will not suffice to prevent this scenario. We must build entirely new foundations for our economic and social systems.
Managing Director at IMF, Kristalina Georgieva also had the headline «The Great Reset» a few weeks ago. My thanks to His Royal Highness the Prince of Wales and th Professor Schwab for bringing us together, she wrote in the opening.
Furthermore, she wrote this in her article: Now is the time to think of what history would say about this crisis. And now is the time for all of us to define our own role. Will historians look back and say this was the moment of a Great Reversal? Today, we see very worrying signs.
One hundred and seventy countries are going to finish this year with a smaller economy than at the start of the year, and we already project that there will be more debt, bigger deficits, and more unemployment. And there is a very high risk of more inequality and more poverty.
Unless we act.
So, what would it take for historians to look back at this crisis as the moment of Great Reset?
From the persepective of the IMF, we have seen a massive injection of fiscal stimulus to help countries deal with this crisis, and to shift gears for growth to return. It is of paramount important that this growth should lead to a greener, smarter, fairer world in the future, Kristalina Georgieva wrote.
IMF and WEF see some tremendous opportunities. Heh… It seems like a New World Order is on the way…..