The annual World Economic Forum (WEF) 2024 is set to take place in Davos, Switzerland, under the compelling theme of \"Building Trust\". In a world grappling with unprecedented levels of distrust between nations, this theme couldn’t be more pertinent.
Currently, the globe is witnessing two major military conflicts: the ongoing war in Ukraine and the devastating attacks in Gaza. These conflicts are among the deadliest in recent history, with no clear resolution in sight. The pervasive lack of political trust is further exacerbated by economic tensions, such as the rerouting of supply chains and the increased use of sanctions and trade restrictions as political tools.
Economic trust, often built through trade and investment, has traditionally served as a bridge between geopolitical adversaries. However, this trust is being undermined by actions like the U.S.'s stringent export restrictions on high-technology products, including semiconductors, in its bid to maintain technological supremacy.
The WEF has historically been a platform for fostering dialogue and mediating conflicts in the economic and political arenas. Yet, there is skepticism about its ability to achieve meaningful outcomes amidst the current global turmoil. The upcoming forum is expected to spotlight these ongoing political conflicts.
Ukrainian President Volodomyr Zelenskyy is slated to address the conference, reiterating his peace plan and emphasizing the necessity of Russian withdrawal from Ukraine. This maximalist approach, however, faces doubts regarding its feasibility in breaking the entrenched stalemate.
On another front, the severe crisis in Gaza, with over 20,000 lives lost, will likely be a focal point of discussions, especially with the participation of key Arab leaders. Despite the high casualty rates, a general condemnation of Israeli actions is improbable, given the strong support from the U.S.
While economic debates at WEF 2024 may revolve around free trade, open borders, and the dismantling of trade barriers, the underlying instability within global financial structures remains a concern that might not be adequately addressed.
As the world watches, the critical question remains: Can WEF 2024 in Davos truly foster the trust needed to navigate and resolve the deep-seated global conflicts that threaten international stability?
Reference(s):
cgtn.com
