by DAVOS, Switzerland (AP) – Business and political elites descended on the Swiss Alpine snow in Davos to “rebuild trust” in a splintering world. If there’s one takeaway from the World Economic Forum’s annual meeting — boldly referring to that theme — it’s that we still have a long way to go.
From full-blown wars in Ukraine and the Middle East to suspicions that corporate bosses and tech whizzes are set to end artificial intelligence displacing workers, it’s clear that trust is in short supply.
The Davos meeting ended on Friday after an annual blowout of prominent decision-makers. The idea is to bring people together, and big announcements are often just a byproduct – not the goal. That is if they come at all.
“It’s unrealistic to think that Davos – or any meeting, anywhere in the world – can in one meeting rebuild trust when it’s fragmented along so many dimensions,” said Rich Lesser, chairman of the Boston Consulting Group.
But thousands of conversations between the social, private and public sectors help to “create a starting point to rebuild trust,” he said.
A large wall of art titled “Rebuilding Trust” greeted by bigwigs from Bill Gates to Iran’s foreign minister was full of phrases like “Growth and Jobs,” “Climate Energy” and “Cooperation and Security” – words thanks to smack, for some people. of empty talk.
Critics say the annual meeting, which began more than half a century ago, is the preserve of business magnates seeking greater wealth and politicians who want to stay in power. The event is difficult to instill hope, but the geopolitical gloom is very heavy.
“The most impressive, if not surprising, thing for me at Davos is this strange commitment from the participants to adopt an optimistic attitude,” said Agnès Callamard, secretary general of Amnesty International. “But hope for the sake of maintaining the status quo and maintaining my privilege. That is not hope.”
“That’s the craziness, really, and it’s affecting our poor world,” she said.
The general conclusion, attendees said, was that the global economic picture is a bit brighter than expected – interest rates and inflation appear to have peaked in the wealthiest markets – but a blow to it is still anyone’s guess where intractable wars and imminent elections in places like the USA, India, the European Union and South Africa will divert the world.
Here are some takeaways from Davos and the work ahead of us:
UKRAINE NEEDS MORE MONEY
Long before the Russian war, Ukraine staked out prime real estate on the main drag of the Davos promenade to further its development and repatriation efforts. Over the past two years, authorities in Kyiv have used the event to call for more support for their fight.
In 2022, months after the Russian invasion, that was an easier question. This year, war fatigue in Ukraine has set in in Europe and the US.
President Volodymyr Zelenskyy led the action on Tuesday, pleading for more support from Western allies as billions in new funding from the United States and the European Union remain locked up by domestic political squabbles.
“Please strengthen our economy, and we will strengthen your security,” Zelenskyy insisted.
Britain, for its part, recently played down its 2.5 billion pound ($3.2 billion) contribution to Kyiv and urged allies to follow suit.
AI: THE FUTURE AND THE RISK
Concerns about the economy that dominated last year – at least from business executives – have given hope that generative AI could increase productivity and cut down on rote tasks.
But apprehensions fear that the technology’s explosive growth is too fast for regulators, threatens to push people out of their jobs and could fuel even more misinformation than already exists on the social media.
Some people say that people need to be in control, not letting technology make critical decisions on its own.
“No matter how much AI can do, humans are still the deciding factor. So we need to focus on training human resources, especially the highly skilled workers,” said Pham Minh Chinh, Vietnam’s prime minister, on the Davos panel.
THE CLIMATE OF FEAR…
The steel of Israeli hostages held by Hamas and concerns about Israel’s long-term security were on people’s lips, as was what some critics of Israel call the genocide in Gaza – a charge denied by Israeli leaders, whose people were in the Holocaust. gloriously.
Renewed talk about the creation of a Palestinian state – an idea that Israeli Prime Minister Benjamin Netanyahu rejected again this week – has prompted talks with US Secretary of State Antony Blinken and others, as hopes for a normalization of Israel’s ties with the Arab world, particularly the Saudi Arabia. Both seem unlikely in the near future.
It was feared that more Palestinians will die or be injured, whether the Israeli hostages will survive in captivity and whether the conflict will go to even more in the Middle East.
Iran and its proxies, for example, have stepped up military activity in various parts of the region, prompting retaliatory strikes from the likes of Pakistan, the US and Britain.
… AND FEAR ABOUT THE CLIMATE
An unusually rainy Thursday – snow far more often than usual in Davos at this time of year – has got tongues wagging at another possible, if temporary, sign of the climate change it wants future CEOs and political leaders.
The gabfest at the Swiss ski resort, just a month after the latest UN climate conference, is unlikely to advance the effort to fight global warming. But corporate leaders shared ideas about how they are trying to help.
The United Nations chief, citing the hottest year on record in 2023 and fears it could be even hotter in the coming years, said countries are not doing enough.
“Given the serious threats – even existential threats – posed by climate chaos and the rampant development of artificial intelligence, we seem unable to act together,” said Secretary-General Antonio Guterres in Davos. “As climate collapse begins, countries are still trying to raise emissions.”
But “it is necessary and inevitable to end fossil fuels” he said.
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AP journalists Masha Macpherson and David Keyton in Davos and Courtney Bonnell and Kelvin Chan in London assisted.
