The Swiss Alpine town of Davos is once again welcoming leading politicians, economists and cultural figures to the annual meeting of the World Economic Forum (WEF).
It comes as US President Donald Trump seeks to dismantle the international order: from dismantling established trade rules and massively withdrawing from international organizations, including the UN climate agreement, to the capture of Venezuelan President Nicolas Maduro after an attack on the capital Caracas and threats to annex Greenland, which is formally part of ally Denmark.
Trump's attack on international rules largely in place since World War II and his impact on global peace, politics and the economy are expected to be among the key themes of the five-day gathering, which begins on Monday (January 19), and is being held under the motto "The Spirit of Dialogue."
“Dialogue is not a luxury in times of uncertainty, it is an urgent necessity,” said Borge Brende, President and CEO of the World Economic Forum. “At a critical moment for international cooperation – marked by profound geoeconomic and technological transformation – this year’s meeting will be one of our most significant.”
Donald Trump will be joined by more than 60 heads of state and government, including German Chancellor Friedrich Merz, Canadian Prime Minister Mark Carney, Argentine President Javier Miela, European Commission President Ursula von der Leyen, Chinese Vice Premier He Lifeng, Pakistani Prime Minister Shehbaz Sharif and Syrian leader Ahmad al-Shara.
Largest US delegation ever in Davos
Trump is leading the largest US delegation ever to Davos, which will include five ministers and other senior officials.
The delegation also includes Secretary of State Marco Rubio, special envoy Steve Witkoff, and Trump's son-in-law Jared Kushner, opening the way for discussions on Ukraine, Venezuela, Gaza, and Iran, where testimonies of the brutal suppression of anti-government protests are coming from.
Trump is expected to meet with Ukrainian President Volodymyr Zelensky and Kiev's G7 allies - including the leaders of Germany, Italy, France, the UK, Canada and the president of the European Commission - on the sidelines of the main event to secure US support for security guarantees for Ukraine following a possible peace deal with Russia, the Financial Times reported.
The strong American presence will also be contributed by the first "USA House" - a space located in a small church on the city's main street, where American officials will organize various events and network with investors.
Geoeconomic war
While geopolitical upheaval and uncertainty are expected to dominate discussions, policymakers and business leaders are also interested in discussing ways to address other challenges facing the global economy.
And it has proven relatively resilient despite heightened trade tensions and political uncertainty, thanks in part to massive investments in artificial intelligence in the US, which has stabilized the world's largest economy.
However, the projected global growth of 3,1 percent in 2026 is still not ideal, especially at a time when global debt has risen to levels not seen since World War II.
According to the International Monetary Fund, the debt situation in several African countries is particularly worrying.
Global trade remains under pressure as countries adopt protectionist measures, such as imposing unilateral tariffs, increasing restrictions on foreign investment, and reducing supplies of key minerals.
Economic conflicts between nations and their consequences were among the main themes of the WEF's annual report on global risks released on Wednesday.
Challenges and opportunities of artificial intelligence
Artificial intelligence is another topic in focus this year, with several events and talks dedicated to the technology, similar to previous World Economic Forum meetings. Davos will feature leading technology leaders such as Satya Nadella (Microsoft), Jensen Huang (Nvidia), and Demis Hassabis (Google AI).
Artificial intelligence is already showing great potential in medicine and education, and in recent years, trillions of dollars have been invested or promised in this sector. This is despite the fact that many companies are currently struggling to find real use cases for the technology, or areas where AI offers good added value.
There is concern about the impact of AI on jobs, as it is feared that many of them will become redundant in the next few years.
Anthropic CEO Dario Amodei, also among this year's attendees, says that artificial intelligence could eliminate half of all white-collar jobs in the next five years, highlighting the need for massive investment in retraining workers.
Artificial intelligence increases the risk of deepening the existing digital divide, with poorer countries failing to take advantage of the opportunities offered by AI. There are also concerns that AI models can spread disinformation and create deepfake content.
Disinformation and cybersecurity are among the top global risks, according to a survey by the Risk Forum, highlighting the need for effective regulation.
New leadership of the World Economic Forum
This year's meeting will be the first without World Economic Forum founder Klaus Schwab at the helm of Davos. The German economist resigned in April 2025 amid allegations that he and his wife used Forum funds for personal gain. An independent investigation, however, found no wrongdoing, only minor irregularities.
Švab was succeeded by interim co-chairs Larry Fink, CEO of investment fund BlackRock, and Andre Hofmann, vice chairman of Swiss pharmaceutical company Roche Holdings.
This year's high-profile list of participants is a boost for the World Economic Forum after a tumultuous year. The organization, founded in 1971 to foster dialogue, now faces challenges as multilateralism weakens and free trade comes under increasing pressure.
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