What to expect at the ongoing WEF 2023 summit at Davos?

World Economic Forum president Borge Brende and forum managing director Saadia Zahidi ahead of the annual meeting, to be held in the Swiss town of Davos from January 16 to 20. EPA

DAVOS - Global leaders have gathered at the Swiss town of Davos and will begin this Monday for the 53rd edition of the annual World Economic Forum 2023 summit better known as the 2023 WEF summit.

The five-day-long meeting featuring business leaders, political figureheads, investors, and academics is being held physically for the first time in three years.

There are more than 2,700 delegates are expected to assemble at Davos during the mega summit. This year’s theme is ‘Cooperation in a fragmented world’. Besides this raging issues like the Russia-Ukraine war, global recession, climate change, and spike in the cost of living are among the key issues to be discussed.

Garowe Online takes a look at the top list of items and what the leaders expect to witness at the 2023 WEF summit.

Germany represents the interest of G-7 nations

This year, German chancellor Olaf Scholz is the only G-7 leader attending. UN chief Antonio Guterres will also attend the forum. Ukrainian president Volodymyr Zelensky, who is resisting the Russian invasion for nearly a year, will appear via video link on Wednesday for an interview, AFP reported. A delegation of the Ukrainian government will travel to Switzerland.

Marty Walsh -Labour secretary to represent the US at the 2023 WEF

US President Joe Biden will not be attending the event. Washington DC is sending labour secretary Marty Walsh, trade representative Katherine Tie, and FBI director Christopher Wray.

China's President won’t attend the 2023 WEF

Chinese vice-premier Liu He will be attending the WEF summit in Davos. His visit assumes significance owing to China's muscle flexing in Taiwan and hostilities with the US.

Russian oligarchs will be absent due to the Ukraine war

The other political leaders include the heads of the European Union, NATO, Greece, Spain, the Phillippines, South Korea, South Africa, and Finland. There will be no Russian oligarchs this time due to stringent sanctions imposed on them by the West due to the Ukraine war.

Crypto technology

The turmoil in the crypto world could mean lesser new-age financiers turning up at the event. Still, several panels will be devoted to the future of crypto and digital currencies and a group of token enthusiasts have organized an adjacent “blockchain hub” that includes an NFT gallery dedicated to digital art.

World facing a recession and a high cost of living

The world leaders are expected to share their insights on the prevalent economic conditions across the globe. According to the WEF's annual Global Risks Report, recession threat, cost-of-living crisis, and debt distress are likely to dominate the outlook for at least two years.

The political discussion set to be centered on the Russia-Ukraine war and the US-China conflict

The Russia-Ukraine war and the US-China conflict are likely to dominate political discussions. Besides this, Chinese president Xi Jinping's efforts to lead his country back to normalcy will also be keenly watched.

GAROWE ONLINE