Like many years ago, the world's rich and powerful come to the idyllic Swiss winter resort of Davos for the meeting of the World Economic Forum, which is held at a time when the world is shaken by the wars in the Middle East and Ukraine, progress in the field of artificial intelligence that causes enthusiasm but also concern, catastrophic debt crisis amid a slowing economy and worsening health of the planet Earth.
More than 2.800 participants will attend the five-day event starting on Monday, January 15, including more than 60 heads of state and government. The theme of this year's meeting of global political and business leaders, celebrities and prominent social activists is "Rebuilding Trust".
"The topic is a direct response to the erosion of trust, which is evident in societies and among countries," said Mirek Dusek, executive director of the World Economic Forum, during a media briefing.
Some could directly link the rifts to "profound transformations all around us, whether they're geopolitical, geoeconomic, or related to climate and nature," he said.
Gaza and Ukraine are at the top of the agenda
Among the top political leaders at the World Economic Forum are French President Emmanuel Macron, European Commission President Ursula von der Leyen and Chinese Premier Li Kiang.
It is expected that the newly elected Argentine President Javier Milei will also attend the Forum.
The US is represented by Secretary of State Anthony Blinken, who will be joined by key figures in the Gaza war, including Israeli President Yitzhak Herzog and Qatari Prime Minister Mohammed Bin Abdulrahman Al Thani, to discuss ways to end the conflict in Gaza and avoid further escalation.
The war in Ukraine is expected to be a prominent topic this year as well. Ukrainian President Volodymyr Zelensky is expected to attend the meeting in person to drum up support for Ukraine as key allies the US and the EU struggle to approve billions crucial to Kiev's aid.
Economic weakness and debt crisis
Weak economic growth and a constant crisis due to the rising cost of living, high interest rates are hitting people all over the world hard. The World Bank recently warned that the global economy is on track to end 2024 with the slowest growth in gross domestic product in 30 years.
While fears of a global recession have faded, thanks to strong growth in the US, there are concerns that rising geopolitical tensions could derail the global economic recovery. The economic slowdown in China, the world's second-largest economy, has also darkened the outlook in many developing African and Asian countries.
Another issue, which will also dominate the agenda, is the huge debts in developing countries, many of them in Africa, which have accumulated in recent years: due to multiple crises such as the corona pandemic, energy shortages and climate change.
Today, 3,3 billion people live in countries that spend more on interest payments than on education or health, according to UN data. Many developing countries are witnessing that their budgets are under pressure due to high food and energy costs and higher borrowing costs.
The state of the economy and the debt crisis will be high on the agenda for African leaders who are expected in large numbers, led by Nigerian President Bola Amed Tinubu and his Kenyan counterpart William Ruto.
"When it comes to Africa, it's still about building confidence in Africa as a center of current and future opportunities, especially its demographic dividend (a large young population)," said Leonard Stiegeler of the Africa Collective, a platform for promoting African interests among global investors. .
"When it comes to future job creation, future workforce creation, Africa is a place to be reckoned with and that's something African leaders would like to promote," he told DW.
Artificial intelligence - and elections in the US, EU and India
The boom in artificial intelligence, which has created great opportunities but also headaches for those who have to regulate it, is the main topic this year with a series of panels dedicated to the technological revolution.
In this year's risk survey, published by the World Economic Forum last week, disinformation and the misuse of information fueled by artificial intelligence - were cited as the biggest threat over the next two years.
The annual report says "the link between disinformation and social unrest will take center stage" this year, when citizens in major economies such as the US, the EU and India go to the polls.
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