World Economic Forum meeting in Davos 2023

Published on January 16, 2023
Current Context: On Monday, January 16, the World Economic Forum (WEF) gathering will get underway in Davos, bringing together world leaders to discuss urgent topics like the Russia-Ukraine conflict, global inflation, and climate change.
World Economic Forum meeting in Davos 2023
  • The summit has the theme "Cooperation in a Fragmented World" as its topic and will end on January 20.
  • There were several inflation-related findings from the WEF survey, which revealed significant geographical variances. In Europe, where the impact of the increase in energy prices last year has spread to the whole economy, the proportion anticipating substantial inflation in 2023 ranged from just 5% for China to 57%.
  • Most economists anticipate additional tightening of monetary policy in Europe and the US (59% and 55%, respectively), with policymakers balancing the risks of tightening monetary policy too much or too little.
  • The discussion is expected to center on immediate issues like how to prevent the possibility of a global recession in 2023 and how to prevent the energy shortage caused by the conflict in Ukraine and the sanctions against Russia from further delaying the failing global effort to combat climate change.
  • This year's International Economic Forum summit will likely focus heavily on geopolitics vs geoeconomics, whether deglobalization may lead to re-globalization, and the future of the multipolar world order. Last year, Ukraine dominated the proceedings.
  • WEF Meeting
    • The WEF summit provides a significant forum for world leaders to discuss the numerous issues that have widened gaps and shattered the geopolitical landscape. More than 2,700 representatives from 130 nations, including 52 heads of state or government, will attend the 53rd annual summit.
    • Several politicians, businesspeople, and young businesspeople from India will attend the gathering in addition to world leaders. State chief ministers Eknath Shinde, B S Bommai, and Yogi Adityanath will be present, along with Union ministers Ashwini Vaishnaw, Mansukh Mandaviya, Smriti Irani, and R K Singh.
    • Byju Ravindran, Natarajan Chandrasekaran, Rajesh Gopinath, CP Gurnani, Adar Poonawalla, etc., are the Indian businesspeople and entrepreneurs who have joined the congregation.
  • Established: 1971
    • Chairperson: Borge Brende
    • Headquarters: Cologne, Switzerland

Question: 

Q.1 Where is the 2023 World Economic Forum Meeting happening?
a. Paris
b. Sydney
c. Washington DC
d. Davos

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