Tag Archives: WEF

Economic globalization is the trend of the times. Though countercurrents are sure to exist in a river, none could stop it from flowing to the sea

World Economic Forum (WEF) started its annual meeting yesterday, and it will continue till Thursday this week. This is the first global in-person leadership event since the start of the Covid-19 pandemic, and this time their theme is; «Working Together, and restoring Trust.»

But the annual meeting has never been confronted with so many unprecedented global issues as it is now in 2022. The WEF`s annual meeting is coming at a crucial time. The most crucial in its 50-year history.

The world is recovering from a global pandemic, struggling with a war in Ukraine, and facing huge challenges from climate change. On top of that, monkeypox is coming, and so are inflation and famine.

One of the topics is globalization, and as we all know, globalization is dead right now. But, I think it`s only set on «pause.»

Chinese President Xi Jinping visited WEF in 2017, and on his first trip he said; «Whether you like it or not, the global economy is a big ocean that you cannot escape from.»

This time, in 2022, Xi said; «Economic globalization is the trend of the times. Though countercurrents are sure to exist in a river, none could stop it from flowing to the sea.»

Xi is also the founder of the Belt and Road Initiative (BRI), which is the 21st Century Maritime Silk Road. The Silk Road has always been important to the trade in the world. It was an ancient trade route that linked the Western world with the Middle East and Asia.

It was a major conduit for trade between the Roman Empire and China and later between medieval European kingdoms and China.

Established when the Han Dynasty in China officially opened trade with the West in 130 B.C., the Sild Road routes remained in use until 1453 A.D., when the Ottoman Empire boycotted trade with China and closed them.

Although it`s been nearly 600 years since the Silk Road has been used for international trade, the routes had a lasting impact on commerce, culture, and history that resonates even today.

I find it very interesting to see that Venetian explorer Marco Polo famously used the Silk Road to travel from Italy to China, which was then under the control of the Mongolian Empire, where they arrived in 1275.

Notably, they did not travel by boat, but rather by camel following overland routes. They arrived at Xanadu, the lavish summer palace of the Mongolian emperor Kublai Khan. (You can see the film about that relationship on Netflix. I think you will like it a lot).

In all, the explorer spent 24 years in Asia, working in Kublai Khan`s court, perhaps as a tax collector.

Marco Polo returned to Venice, again via the Silk Road routes, in 1295, just as the Mongolian Empire was in decline. His journeys across the Silk Road became the basis for his book, «The Travels of Marco Polo,” which gave Europeans a better understanding of Asian commerce and culture.

Khan`s Empire is gone. So are the Roman and the Ottoman Empire. Some historians say the start of the British Empire started around the 1490s, while others say the early 1600`s, but it all ended in the years after World War 2, with most of Britain`s colonies ruling themselves independently by the late 1960s. But what about the American Empire?

A New World Order started after World War 2, and the U.S became the leading Empire in the World. Now, we are all facing a revolution. A New World Order. Again. Globalization is dead, but it will come back, because as Xi said: «Economic globalization is the trend of the times. Though countercurrents are sure to exist in a river, none could stop it from flowing to the sea.»

On Friday, the S&P 500 briefly fell into a bear market, and the inflation in the UK hit a 40-year high in April. We are into a vicious cycle, and the WEF`s Chief Economists Outlook has warned of lower economic activity, higher inflation, lower real wages, and greater food insecurity globally in 2022.

They warn that this could have devastating human consequences as the global economy fragments.

As Saadia Zahidi, Head of the Centre for New Economy and Society and a Managing Director at the World Economic Forum explained:

«We are at the cusp of a vicious cycle that could impact societies for years. The pandemic and war have fragmented the global economy and created far-reaching consequences that risk wiping out the gains of the last thirty years.

Leaders face difficult choices and trade-offs domestically when it comes to debt, inflation, and investment. Yet business and government leaders must also recognize the absolute necessity of global cooperation to prevent economic misery for millions around the world.

The WEF`s Annual Meeting this week will provide a starting point for such collaboration.»

Four Futures for economic Globalization: Scenarios and their implications:

Globalization has created significant opportunities and lifted millions out of poverty, while also driving inequality and economic disruption. With many countries turning inward in search of new strategies to increase security and resilience, the convergence of physical and virtual forms of economic globalization is no longer a given.

As the traditional drivers of globalization have reached a critical juncture, we are entering a new phase of increased economic volatility, polarization, and structural reset of the global system. Ever-accelerating digitalization, however, means that the rivalry between global centers is rapidly expanding from the physical to virtual space, where competition over the control of technology and information networks is growing. How different economic centers of gravity will choose between physical and virtual integration, fragmentation or isolation will shape the fate of economic globalization in the years to come.

This White Paper outlines how the nature of globalization may shift as economic powers choose between fragmentation or isolation in both physical and virtual integration. The report calls for “no-regret actions” by policymakers: global cooperation on the climate crisis; investment in human capital to prepare populations for a range of economic futures, and returning to developing resilience through greater economic integration, knowledge-sharing, and diversification.

Globalization is at crossroads. It`s changing, but it isn`t ending.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Shinybull.com. The author has made every effort to ensure the accuracy of the information provided; however, neither Shinybull.com nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities, or other financial instruments. Shinybull.com and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

Leave a comment

Filed under Politics

A fight of “all against all” means the end of our civilization

Nobody expected Putin to show up at the World Economic Forum this time. Putin`s virtual address at the WEF was unexpected. But, they’re all there to make a better world and Putin warned that the coronavirus pandemic has exacerbated preexisting global problems and imbalances.

All these problems can come out of control, and these could deteriorate to a point where there is a fight of «all against all.» «We have every reason to believe that the tensions might be aggravated even further,» Putin warned.

Not only that. Putin also said that the times we are living in right now is similar to the ’30s, and I think he is so right. This is what I have pointed out for a very long time now. Just take a look at the history.

It`s similar to when it comes to the scale and scope of what he called systemic «challenges and potential threats.» Putin said the crisis had increased social stratification, populism, right- and left-wing radicalism, adding that domestic political processes were becoming more violent.

«All of this cannot but impact international relations, making them less stable and predictable,» Putin said.

«In the 20th century, the failure and inability to centrally resolve such issues resulted in the catastrophic World War II. Of course, nowadays such a heated conflict is not possible, I hope that it`s not possible in principle, because it would mean the end of our civilization.

But I would like to reiterate, that the situation might develop unpredictably and uncontrollably if we will sit on our hands doing nothing to avoid it.

And there is a possibility that we may experience an actual collapse of global development that might result in a fight of all against all,» Putin said.

Putin and Biden had a meeting on the phone on Tuesday. They come to an agreement to extend their current nuclear arms pact, the NEW START treaty, for another five years.

To contact the author: post@shinybull.com

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Shinybull.com. The author has made every effort to ensure the accuracy of the information provided; however, neither Shinybull.com nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities, or other financial instruments. Shinybull.com and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

Leave a comment

Filed under Politics, Uncategorized

World Economic Forum Annual Meeting 2021 will be held on the theme “The Great Reset”

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.

To contact the author: post@shinybull.com

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Shinybull.com. The author has made every effort to ensure the accuracy of the information provided; however, neither Shinybull.com nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities, or other financial instruments. Shinybull.com and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

Leave a comment

Filed under Politics

A “Great Reset” of Capitalism

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…..

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Shiny bull. The author has made every effort to ensure accuracy of information provided; however, neither Shiny bull nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities or other financial instruments. Shiny bull and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

Leave a comment

Filed under Politics

President Donald Trump is expected to meet Climate activist Greta Thunberg at Davos World Economic Forum

Last year, people at Davos said it was boring at the World Economic Forum (WEF). It wasn`t as it used to be. It`s probably because Trump wasn`t there. In 2018, Trump joined the club and the globalists in Europe treated him like a rockstar. Trump will joint WEF this week, so what now?

Greta Thunberg is a Climate Activist and she was the person of the year 2019 at Time Magazine. Donald Trump was the person of the year in 2016. The president who didn`t sign the Paris agreement. They are both coming to Davos on Tuesday. Is Climate Change the headline at WEF this time?

WEF founder Klaus Schwab said the forum have changed rapidly in business, society and culture over the last fifty years. The yearly gathering in the Swiss Alps started as a forum for business leaders but now it is also for policymakers and activists as well.

Climate change is here right in front of our eyes and everybody can see it. No doubt. Australia is burning with extreme heat and out-of-control wildfires. We also see melting ice sheets. But, is it the nature going in cycle or is it man-made?

In August 2018, Sweden was burning and that was man-made. A lot of Sweden cars was burning in Gutenburg and many Swedes was horrified because migrant gangs coordinated fire-bombs across multiple cities.

A month before that, a large number of wildfires occurred throughout much of Sweden. It is the most serious in the country in modern history. The summer was unusually warm and dry, significantly raising the risk of fire.

Sweden experienced an unusually long heatwave and had only 13 mm of rain from the beginning of May to late July. May 2018 was the warmest May and July 2018 was the warmest July ever recorded in Sweden.

In March 2019, several wildfires occurred in the south of Sweden, and the risk of fire was unusually high for the time of year.

As of mid-July, temperatues in Scandinavia were more than 10 C (18 F) above normal. Wildfires also occurred in the neighbouring countries like Denmark, Norway and Finland.

Experts say there is more to come.

Anyway, what we see can be catastrophic for the economy and the whole world. Global warming, climate change and the extinction of animal species will effect us all.

There is no doubt that the biggest pollution problems are in Asia, and the worst of them all are China and India. We all know it. We have evidence. We have it on film. We have it on many pictures. No doubt. Millions of people die every year only in China because of their pollution.

Trump didn`t sign the Paris agreement because he said it is too expensive. He wants to create jobs and make people prosper. He is also following his own slogan; America first, and that`s basically why he doesn`t want to shut down the oil and coal industry. The cost is too high.

Leaders at Davos will talk much about the environment and the focus on climate change and sustainable growth will be interesting to watch at WEF this time. It will also be very interesting to see 73 year old Trump arguing against teenager Thunberg.

Trump was like a rockstar last time he visited Davos, and Scwab says Trump is velcome to the Swiss Alps because of his role on the world stage. It was boring at Davos last year, but I bet it will be action again this time.

Schwab said it also will be focus on inclusion and equality; economic development; technology governance; regional development; corporate leadership and ecology, including a project to plant a trillion trees.

The WEF`s mission is cited as “committed to improving the state of the world by engaging business, political, academic and other leaders of society to shape global, regional and industry agendas”.

Both, Trump and Thunberg will speak Tuesday on the opening day at the World Economic Forum.

Leave a comment

Filed under Politics