China’s annual "Two Sessions" meeting is tackling key issues, from economic slowdown and workforce challenges to housing reforms and marriage laws. Lawmakers are debating policies like a housing trade-in system and potential changes to the retirement age.

China’s ‘Two Sessions’ debate economy, housing, marriage and workforce

The post-Covid economic slowdown in China has hit local consumption demand and has fallen drastically in the world's biggest market.

China's slowdown hits luxury brands

Tough economic times have apparently begun to have effect on the Big Tech companies. Facebook has announced that it would freeze new corporate hires. The uncertain economic environment has cast even darker shadow in light of possible mass layoffs in Twitter, now acquired by Elon Musk for USD 44 billion.

Media reports said that Musk is preparing to eliminate thousands of jobs as early as Friday in an attempt to find ways to help pay for the massive buyout.

"Amazon's hiring freeze sends a clear and unfortunate signal that the mood music of the retail and consumer economy is shifting," said GlobalData managing director Neil Saunders.&nbsp;

"The heady days of growth have now ended and have given away to an environment in which more caution is necessary to protect the bottom line," he added.&nbsp;

Media reports have suggested that Apple too has put a freeze on new hiring in certain sections of the company. According to a report in Business Insider, Apple has "paused almost all hiring" due to economic concerns.&nbsp;The company has reported told the staff that it won't be hiring more people. Apple has reportedly asserted that it doesn’t have a “budget for additional headcount for company positions in the coming year.”

Apple reported solid profits on rising revenues, but its iPhone sales missed estimates while it saw slowing growth in services revenues.&nbsp;

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

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Tough economic times have apparently begun to have effect on the Big Tech companies. Facebook has announced that it would freeze new corporate hires. The uncertain economic environment has cast even darker shadow in light of possible mass layoffs in Twitter, now acquired by Elon Musk for USD 44 billion.

Tough economic times have apparently begun to have effect on the Big Tech companies. Facebook has announced that it would freeze new corporate hires. The uncertain economic environment has cast even darker shadow in light of possible mass layoffs in Twitter, now acquired by Elon Musk for USD 44 billion. Media reports said that Musk is preparing to eliminate thousands of jobs as early as Friday in an attempt to find ways to help pay for the massive buyout. "Amazon's hiring freeze sends a clear and unfortunate signal that the mood music of the retail and consumer economy is shifting," said GlobalData managing director Neil Saunders. "The heady days of growth have now ended and have given away to an environment in which more caution is necessary to protect the bottom line," he added. Media reports have suggested that Apple too has put a freeze on new hiring in certain sections of the company. According to a report in Business Insider, Apple has "paused almost all hiring" due to economic concerns. The company has reported told the staff that it won't be hiring more people. Apple has reportedly asserted that it doesn’t have a “budget for additional headcount for company positions in the coming year.” Apple reported solid profits on rising revenues, but its iPhone sales missed estimates while it saw slowing growth in services revenues. You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE ×

Apple, Amazon put freeze on fresh recruiting amid slow growth, recession fears: Report

The United States&nbsp;economy shrank in the first half of this year, confirming concerns about a general downturn that might trigger a recession. At the same time, a measure that frequently indicates the rate of layoffs—the number of persons applying for unemployment benefits—fell to a five-month low. The decrease shows that businesses are keeping their employees despite the downturn in growth and that those who are let go swiftly find other employment.&nbsp;

The unemployment rate is close to a 50-year low, and hiring is still quite robust. Few experts believe that we are now in a recession because of the strength of the labour market. Economists anticipate the economy will grow as long as people continue to spend money, albeit slowly.

Recession is often defined as a six-month period of decline. But in a post-pandemic economy when growth is low but the employment market is robust, nothing is straightforward. Since growth abruptly came to an end in March 2020 when Covid-19 hit and 22 million Americans were suddenly out of work, the path of the economy has baffled officials at the Federal Reserve as well as many private economists.&nbsp;

Despite recent drops in gas prices and other expenses, inflation is still close to its highest point in four decades. Despite many workers receiving salary hikes, inflation is still so high that Americans' purchasing power is declining. Households with lower incomes, those who are Black and Hispanic, and those who are struggling to pay their bills are disproportionately feeling the burden.

Who decides?

The National Bureau of Economic Research, whose Business Cycle Dating Committee defines a recession as "a significant decline in economic activity that is spread across the economy and lasts more than a few months," is the organisation that formally declares recessions.&nbsp;

The committee uses job trends as a significant indicator for assessing recessions. Numerous other data points are also evaluated, such as measures of income, employment, inflation-adjusted expenditure, retail sales, and manufacturing production. It gives a lot of weight to employment and is an indicator of inflation-adjusted income that doesn't include government benefits like Social Security.&nbsp;

However, the NBER frequently waits until after a recession has started, sometimes for as long as a year.

Can a common man sense it?

Yes, as a large number of individuals currently feel more financially pressured. Higher costs have reduced Americans' purchasing power since most people's pay increases have lagged behind inflation.&nbsp;

According to Walmart, rising gas and food prices have made it necessary for its customers to cut down on discretionary purchases like new apparel. This is a glaring indication that consumer spending, the main engine of the economy, is waning. Walmart, the biggest retailer in the country, has lowered its profit forecast and said that it would have to discount more goods, including furniture and electronics.

Unemployment -- clear signal&nbsp;

According to analysts, a sustained increase in job losses and a spike in unemployment would be the most obvious signs that a recession is beginning. A recession has always occurred since World War II when the unemployment rate increased by a half percentage point over a period of many months, according to economist and former Fed employee Claudia Sahm.&nbsp;

Numerous analysts keep track of the number of people who apply for unemployment benefits each week because it shows if layoffs are becoming worse or not. The number of weekly applications for unemployment benefits has decreased to a five-month low, indicating that few firms are using layoffs as a last alternative in the face of a labour shortage.

Inverted yield curve&nbsp;

Many economists also keep an eye on fluctuations in the interest rates, or yields, on various bonds in search of the "inverted yield curve," a recession indicator. When the yield on a short-term Treasury, such as the 3-month T-bill, is lower than the yield on a 10-year Treasury, this occurs. That is strange. In return for locking up their money for a longer length of time, longer-term bonds often provide investors with a larger yield.&nbsp;

In general, inverted yield curves indicate that investors anticipate a downturn that will force the Fed to lower interest rates. Recessions frequently precede inverted curves. After the yield curve inverts, a slump may not occur for 18 to 24 months.

Interest rate&nbsp;

The economy's warning signs—slowing growth and high hiring—have presented a challenge for the Fed. Jerome Powell, the chair, wants a "soft landing, "In which inflation returns to the Fed's 2 per cent&nbsp;objective and the economy slows just enough to restrict wage growth and hiring without triggering a recession.&nbsp;

Powell has recognised, however, that it is getting harder to come to such a conclusion. He made it plain last week that the Fed will continue raising rates if necessary to control inflation, despite a deteriorating economy that may enter a recession.&nbsp;

(with inputs from agencies) 
&nbsp;

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The United States economy shrank in the first half of this year, confirming concerns about a general downturn that might trigger a recession. At the same time, a measure that frequently indicates the rate of layoffs—the number of persons applying for unemployment benefits—fell to a five-month low.

The United States economy shrank in the first half of this year, confirming concerns about a general downturn that might trigger a recession. At the same time, a measure that frequently indicates the rate of layoffs—the number of persons applying for unemployment benefits—fell to a five-month low. The decrease shows that businesses are keeping their employees despite the downturn in growth and that those who are let go swiftly find other employment. The unemployment rate is close to a 50-year low, and hiring is still quite robust. Few experts believe that we are now in a recession because of the strength of the labour market. Economists anticipate the economy will grow as long as people continue to spend money, albeit slowly. Recession is often defined as a six-month period of decline. But in a post-pandemic economy when growth is low but the employment market is robust, nothing is straightforward. Since growth abruptly came to an end in March 2020 when Covid-19 hit and 22 million Americans were suddenly out of work, the path of the economy has baffled officials at the Federal Reserve as well as many private economists. Despite recent drops in gas prices and other expenses, inflation is still close to its highest point in four decades. Despite many workers receiving salary hikes, inflation is still so high that Americans' purchasing power is declining. Households with lower incomes, those who are Black and Hispanic, and those who are struggling to pay their bills are disproportionately feeling the burden. Who decides? The National Bureau of Economic Research, whose Business Cycle Dating Committee defines a recession as "a significant decline in economic activity that is spread across the economy and lasts more than a few months," is the organisation that formally declares recessions. The committee uses job trends as a significant indicator for assessing recessions. Numerous other data points are also evaluated, such as measures of income, employment, inflation-adjusted expenditure, retail sales, and manufacturing production. It gives a lot of weight to employment and is an indicator of inflation-adjusted income that doesn't include government benefits like Social Security. However, the NBER frequently waits until after a recession has started, sometimes for as long as a year. Can a common man sense it? Yes, as a large number of individuals currently feel more financially pressured. Higher costs have reduced Americans' purchasing power since most people's pay increases have lagged behind inflation. According to Walmart, rising gas and food prices have made it necessary for its customers to cut down on discretionary purchases like new apparel. This is a glaring indication that consumer spending, the main engine of the economy, is waning. Walmart, the biggest retailer in the country, has lowered its profit forecast and said that it would have to discount more goods, including furniture and electronics. Unemployment -- clear signal According to analysts, a sustained increase in job losses and a spike in unemployment would be the most obvious signs that a recession is beginning. A recession has always occurred since World War II when the unemployment rate increased by a half percentage point over a period of many months, according to economist and former Fed employee Claudia Sahm. Numerous analysts keep track of the number of people who apply for unemployment benefits each week because it shows if layoffs are becoming worse or not. The number of weekly applications for unemployment benefits has decreased to a five-month low, indicating that few firms are using layoffs as a last alternative in the face of a labour shortage. Inverted yield curve Many economists also keep an eye on fluctuations in the interest rates, or yields, on various bonds in search of the "inverted yield curve," a recession indicator. When the yield on a short-term Treasury, such as the 3-month T-bill, is lower than the yield on a 10-year Treasury, this occurs. That is strange. In return for locking up their money for a longer length of time, longer-term bonds often provide investors with a larger yield. In general, inverted yield curves indicate that investors anticipate a downturn that will force the Fed to lower interest rates. Recessions frequently precede inverted curves. After the yield curve inverts, a slump may not occur for 18 to 24 months. Interest rate The economy's warning signs—slowing growth and high hiring—have presented a challenge for the Fed. Jerome Powell, the chair, wants a "soft landing, "In which inflation returns to the Fed's 2 per cent objective and the economy slows just enough to restrict wage growth and hiring without triggering a recession. Powell has recognised, however, that it is getting harder to come to such a conclusion. He made it plain last week that the Fed will continue raising rates if necessary to control inflation, despite a deteriorating economy that may enter a recession. (with inputs from agencies)

Explained: Early signs of a recession; who decides if it's officially begun?

With seven new cases, the number of infections in Sri Lanka has spiked to 19. As a precautionary measure, Srilankan airlines have asked passengers to carry their own blankets and headphones.

<a href="https://www.wionews.com/south-asia/covid-19-infects-over-94-in-pakistan-286802">Also read: Covid-19 infects over 94 in Pakistan</a> 
 
The situation is particularly bad in Afghanistan which has a weak healthcare system. Though the country has reported 21 cases so far.

But the number of infections could be much higher. Afghan lawmakers have said that more than 15 thousand people, still return from Iran every day.

In fact, so far 10, Afghans have died of coronavirus in Iran due to the lack of medical care.

Lawmakers said that the conflict-hit country lacked the proper equipment to detect coronavirus infections. In fact, they said Afghanistan has just 16 doctors who can diagnose Covid-19 in the virus epicentre of the Herat province.

In fact, there were even calls to shut down the parliament over fears of virus spread.

The number of cases in Pakistan has risen to 93. 41 new coronavirus infections were confirmed in the Sindh province.&nbsp;

The financial hub of Karachi which is also Sindh's capital remains worst hit with 25 cases.

But the Imran Khan government's priority still remains misplaced.

This as Pakistan president Arif Alvi is leaving for a two-day trip to china to show solidarity with its all-weather friend.

Remember, Pakistan has refused to evacuate its citizens from china even as the outbreak worsened. Afghanistan struggles to contain the outbreak.

Afghanistan struggles to contain outbreak

At least 15,000 Afghans return daily from Iran 
10 Afghans died due to lack of medical care in Iran 
Afghanistan lacks equipment for coronavirus testing 
Only 16 doctors can diagnose Covid-19 in Herat province

With seven new cases, the number of infections in Sri Lanka has spiked to 19. As a precautionary measure, Srilankan airlines have asked passengers to carry their own blankets and headphones.

With seven new cases, the number of infections in Sri Lanka has spiked to 19. As a precautionary measure, Srilankan airlines have asked passengers to carry their own blankets and headphones. Also read: Covid-19 infects over 94 in Pakistan The situation is particularly bad in Afghanistan which has a weak healthcare system. Though the country has reported 21 cases so far. But the number of infections could be much higher. Afghan lawmakers have said that more than 15 thousand people, still return from Iran every day. In fact, so far 10, Afghans have died of coronavirus in Iran due to the lack of medical care. Lawmakers said that the conflict-hit country lacked the proper equipment to detect coronavirus infections. In fact, they said Afghanistan has just 16 doctors who can diagnose Covid-19 in the virus epicentre of the Herat province. In fact, there were even calls to shut down the parliament over fears of virus spread. The number of cases in Pakistan has risen to 93. 41 new coronavirus infections were confirmed in the Sindh province. The financial hub of Karachi which is also Sindh's capital remains worst hit with 25 cases. But the Imran Khan government's priority still remains misplaced. This as Pakistan president Arif Alvi is leaving for a two-day trip to china to show solidarity with its all-weather friend. Remember, Pakistan has refused to evacuate its citizens from china even as the outbreak worsened. Afghanistan struggles to contain the outbreak. Afghanistan struggles to contain outbreak At least 15,000 Afghans return daily from Iran 10 Afghans died due to lack of medical care in Iran Afghanistan lacks equipment for coronavirus testing Only 16 doctors can diagnose Covid-19 in Herat province

Poverty, population and weak healthcare: Coronavirus cases on the rise in South Asia

The international travel industry is facing a widespread shutdown owing to coronavirus fears.

Many airlines have announced a reduction in flights as countries are continuing to impose travel bans and isolation requirements.

The International Air Transport Association has said that the revenue losses due to coronavirus could run as high as 113 billion dollars across the industry this year.

Also read:&nbsp;<a href="http://13.235.153.162/world/us-federal-reserve-announces-emergency-measures-amid-coronavirus-triggered-slowdown-286811" hreflang="en">US Federal Reserve announces emergency measures amid coronavirus-triggered slowdown</a>

Global aviation consultancy firm Centre for Aviation (CAPA) has said that most of the airlines in the world will be bankrupt by the end of May in the absence of a coordinated government and industry action beginning now.

British airline Flybe has become the first aviation company to go bankrupt due to the outbreak. All its flights have been grounded and passengers have been warned not to even try going to the airport unless they have flights lined up with another airline.

The second-biggest airline in the world, American Airlines has announced that it would start implementing a phased suspension of nearly all-long haul international flights. 
 
United Airlines has become the first US carrier to heavily slash its domestic routes. United carried one million fewer passengers in the first two weeks of March compared to a year ago.

Also read:&nbsp;<a href="http://13.235.153.162/opinions-blogs/explained-coronavirus-outbreak-how-india-will-take-time-to-get-used-to-social-distancing-286803" hreflang="en">Explained: Coronavirus outbreak - how India will take time to get used to social distancing</a>

Cathay Pacific has put nearly 25 thousand staff members on unpaid leave after announcing that it is expecting “substantial” losses in the first half of 2020

Norwegian Air has cancelled four thousand flights and temporarily laid off about half of its staff. The airline is already in serious financial difficulty due to the Boeing 737 max groundings.

The Dutch subsidiary of Air France-KLM is planning to slash up to two thousand jobs and to cut working hours by one-third for its entire staff.

Malaysian Airlines is also at risk of going bankrupt. The air carrier has urged employees to take voluntary unpaid leave programmes, and has further announced a 10 per cent pay cut for its senior management. Up to more than two thousand Malaysian Airlines flights have been cancelled due to the travel restrictions imposed by countries within its network.

Also read:&nbsp;<a href="http://13.235.153.162/world/precaution-not-panic-here-are-narratives-of-people-who-have-successfully-recovered-from-covid-19-286789" hreflang="en">Precaution, not panic: Here are narratives of people who have successfully recovered from Covid-19</a>

India's largest airline carrier IndiGo claims that it has witnessed a decline of 15-20 per cent in daily booking numbers over the last few days. To make flying during the pandemic easier, the airline has also announced waiving of rescheduling charges on flight bookings till March 31.&nbsp;

The international travel industry is facing a widespread shutdown owing to coronavirus fears. Many airlines have announced a reduction in flights as countries are continuing to impose travel bans and isolation requirements.

The international travel industry is facing a widespread shutdown owing to coronavirus fears. Many airlines have announced a reduction in flights as countries are continuing to impose travel bans and isolation requirements. The International Air Transport Association has said that the revenue losses due to coronavirus could run as high as 113 billion dollars across the industry this year. Also read: US Federal Reserve announces emergency measures amid coronavirus-triggered slowdown Global aviation consultancy firm Centre for Aviation (CAPA) has said that most of the airlines in the world will be bankrupt by the end of May in the absence of a coordinated government and industry action beginning now. British airline Flybe has become the first aviation company to go bankrupt due to the outbreak. All its flights have been grounded and passengers have been warned not to even try going to the airport unless they have flights lined up with another airline. The second-biggest airline in the world, American Airlines has announced that it would start implementing a phased suspension of nearly all-long haul international flights. United Airlines has become the first US carrier to heavily slash its domestic routes. United carried one million fewer passengers in the first two weeks of March compared to a year ago. Also read: Explained: Coronavirus outbreak - how India will take time to get used to social distancing Cathay Pacific has put nearly 25 thousand staff members on unpaid leave after announcing that it is expecting “substantial” losses in the first half of 2020 Norwegian Air has cancelled four thousand flights and temporarily laid off about half of its staff. The airline is already in serious financial difficulty due to the Boeing 737 max groundings. The Dutch subsidiary of Air France-KLM is planning to slash up to two thousand jobs and to cut working hours by one-third for its entire staff. Malaysian Airlines is also at risk of going bankrupt. The air carrier has urged employees to take voluntary unpaid leave programmes, and has further announced a 10 per cent pay cut for its senior management. Up to more than two thousand Malaysian Airlines flights have been cancelled due to the travel restrictions imposed by countries within its network. Also read: Precaution, not panic: Here are narratives of people who have successfully recovered from Covid-19 India's largest airline carrier IndiGo claims that it has witnessed a decline of 15-20 per cent in daily booking numbers over the last few days. To make flying during the pandemic easier, the airline has also announced waiving of rescheduling charges on flight bookings till March 31.

Will the global aviation industry survive coronavirus-related slowdown?

Japan registers worst slump in 5 years. where its economy hit by low consumer spending. Japan is currently facing a recession due to many occurring circumstances that have caused Japan's economy to slowly spiral down.

Japan's Economy shrank sharply | Wion News | World News

The 50th World Economic Forum gathering is slated to begin today at Davos, Switzerland.

The key focus at this year's event is on the global economic slowdown, multilateralism, sustainable goals for 2030, and the Paris agreement.

Also read:&nbsp;<a href="https://www.wionews.com/world/ahead-of-davos-summit-greta-thunberg-calls-for-real-climate-action-274917">Ahead of Davos summit, Greta Thunberg calls for 'real climate action'</a>

Starting today (January 21), the summit will host 3,000 participants from 170 countries till Friday (January 24). World leaders, politicians, celebrities, and chief executives are slated to be present at the event to exchange economic, social, and environmental concerns.

This year's theme is ''Stakeholders for a cohesive and sustainable world''. 53 heads of state including US President Donald Trump, and German Chancellor Angela Merkel will attend the event.

<h6><img alt="WEF" data-entity-type="file" data-entity-uuid="62c84dd8-8b8d-4941-919d-f6673a3a9822" src="//cdn.wionews.com/sites/default/files/inline-images/Untitled%20design%20%282%29_46.jpg" /> 
President of the European Commission Ursula von der Leyen delivers a speech at a ceremony to mark the 50th anniversary of World Economic Forum during the WEF's annual meeting in Davos, on January 20, 2020 | AFP 
&nbsp;</h6>

From India, Piyush Goyal is likely to attend the forum, with plans to meet other global leaders as well as company CEOs. India's focus is expected to be on bringing global investments into the country and accelerating the investments in Indian railway.

Recently, US President Donald Trump departed for Davos and the White House has revealed a list of leaders he is slated to meet at the forum. These include Iraqi President Barham Salih, Pakistani Prime Minister Imran Khan, European Commission President Ursula Von Der Leyenand Klaus Schwab, the leader of the World Economic Forum.

As he was leaving for Davos, Trump tweeted, ''Heading to Davos, Switzerland, to meet with world and business leaders and bring good policy and additional hundreds of billions of dollars back to the united states of America! We are now number one in the universe, by far!!''

Davos is also bracing for Trump-Greta showdown as climate change tops the agenda of the forum. This is the first time the two will face each other after the teenager stared Trump down at the United Nations.

Meanwhile, US President Donald Trump will be receiving the Swiss Army Security amid the climate protesters trek to Davos.

"We will see what he (trump) will tell us here, of course. We are looking very much forward because this is a global conference. We are putting a lot of emphasis on dealing with global issues. And the climate is the key global issue at this moment", said Klaus Schwab, the founder of the World Economic Forum.

The key challenges at this year's WEF meet will include the following:

<ul>
	<li>How to save the planet</li>
	<li>Society and the future of work</li>
	<li>Using technology for good</li>
	<li>Fairer economies</li>
	<li>Better business</li>
	<li>Healthy futures</li>
	<li>Beyond geopolitics</li>
</ul>

 
The gathering is taking place at a time of heightened trade disruptions, shifts in foreign policy and a climate emergency.

The global leaders are headed to Davos in search of stability. Focussing on the global slowdown in consumerism, the inclusion of new tech firms and the future of multilateralism.

<h6><img alt="WEF" data-entity-type="file" data-entity-uuid="f827c26d-305d-4526-9c55-e81172020213" src="//cdn.wionews.com/sites/default/files/inline-images/Untitled%20design_53.jpg" /> 
Indian actress Deepika Padukone delivers her acceptance speech during the "Crystal Award" ceremony at the World Economic Forum (WEF) annual meeting in Davos, on January 20, 2020 | AFP 
&nbsp;</h6>

In a report released last week, the WEF said severe threats to the climate account for all of the top five long-term risks.

The forum’s organisers have also chosen sustainable investment as the overarching topic for the four-day event.

Piyush Goyal is expected to hold bilateral meetings with ministers of Australia, South Africa, Russia, Saudi Arabia, Switzerland, Korea, and Singapore.

He is also slated to meet with CEOs of companies, attend WEF sessions and round tables on accelerating investments in Indian railways and attracting global institutional investments in India.

Also read:&nbsp;<a href="https://www.wionews.com/entertainment/deepika-padukone-receives-crystal-award-at-davos-says-depression-is-common-yet-serious-illness-275601">Deepika Padukone receives Crystal award at Davos, says depression is common yet serious illness</a>

Remembered as an ''ensemble of elitists'', the WEF summit has been on since 1971.

Envisaged by German engineer and economist, Klaus Schwab in 1971, the Davos Summit was imagined as an arena to bring a divided world together.

Over the years, the Davos Summit has helped shape many global issues like the Cold War, the Gulf War, Fall of the Berlin Wall, War on Terror, the 2008 recession, and more.

Even though it's easy to dismiss Davos as a meeting where ''billionaires tell millionaires what the middle class feels'', the summit has achieved quite a bit.

Last year alone, there were initiatives on mental health worth $260 million, electronic waste initiatives worth $2 million, and curbing plastic pollution.

However, Davos is a really costly affair. One person has to pay $5000 to spend one night at the summit, with security costs running as high as $9.35 million. In 2011, an individual membership cost $52,000.

The 50th World Economic Forum gathering is slated to begin today at Davos, Switzerland. The key focus at this year's event is on the global economic slowdown, multilateralism, sustainable goals for 2030, and the Paris agreement.

The 50th World Economic Forum gathering is slated to begin today at Davos, Switzerland. The key focus at this year's event is on the global economic slowdown, multilateralism, sustainable goals for 2030, and the Paris agreement. Also read: Ahead of Davos summit, Greta Thunberg calls for 'real climate action' Starting today (January 21), the summit will host 3,000 participants from 170 countries till Friday (January 24). World leaders, politicians, celebrities, and chief executives are slated to be present at the event to exchange economic, social, and environmental concerns. This year's theme is ''Stakeholders for a cohesive and sustainable world''. 53 heads of state including US President Donald Trump, and German Chancellor Angela Merkel will attend the event. President of the European Commission Ursula von der Leyen delivers a speech at a ceremony to mark the 50th anniversary of World Economic Forum during the WEF's annual meeting in Davos, on January 20, 2020 | AFP From India, Piyush Goyal is likely to attend the forum, with plans to meet other global leaders as well as company CEOs. India's focus is expected to be on bringing global investments into the country and accelerating the investments in Indian railway. Recently, US President Donald Trump departed for Davos and the White House has revealed a list of leaders he is slated to meet at the forum. These include Iraqi President Barham Salih, Pakistani Prime Minister Imran Khan, European Commission President Ursula Von Der Leyenand Klaus Schwab, the leader of the World Economic Forum. As he was leaving for Davos, Trump tweeted, ''Heading to Davos, Switzerland, to meet with world and business leaders and bring good policy and additional hundreds of billions of dollars back to the united states of America! We are now number one in the universe, by far!!'' Davos is also bracing for Trump-Greta showdown as climate change tops the agenda of the forum. This is the first time the two will face each other after the teenager stared Trump down at the United Nations. Meanwhile, US President Donald Trump will be receiving the Swiss Army Security amid the climate protesters trek to Davos. "We will see what he (trump) will tell us here, of course. We are looking very much forward because this is a global conference. We are putting a lot of emphasis on dealing with global issues. And the climate is the key global issue at this moment", said Klaus Schwab, the founder of the World Economic Forum. The key challenges at this year's WEF meet will include the following: How to save the planet Society and the future of work Using technology for good Fairer economies Better business Healthy futures Beyond geopolitics The gathering is taking place at a time of heightened trade disruptions, shifts in foreign policy and a climate emergency. The global leaders are headed to Davos in search of stability. Focussing on the global slowdown in consumerism, the inclusion of new tech firms and the future of multilateralism. Indian actress Deepika Padukone delivers her acceptance speech during the "Crystal Award" ceremony at the World Economic Forum (WEF) annual meeting in Davos, on January 20, 2020 | AFP In a report released last week, the WEF said severe threats to the climate account for all of the top five long-term risks. The forum’s organisers have also chosen sustainable investment as the overarching topic for the four-day event. Piyush Goyal is expected to hold bilateral meetings with ministers of Australia, South Africa, Russia, Saudi Arabia, Switzerland, Korea, and Singapore. He is also slated to meet with CEOs of companies, attend WEF sessions and round tables on accelerating investments in Indian railways and attracting global institutional investments in India. Also read: Deepika Padukone receives Crystal award at Davos, says depression is common yet serious illness Remembered as an ''ensemble of elitists'', the WEF summit has been on since 1971. Envisaged by German engineer and economist, Klaus Schwab in 1971, the Davos Summit was imagined as an arena to bring a divided world together. Over the years, the Davos Summit has helped shape many global issues like the Cold War, the Gulf War, Fall of the Berlin Wall, War on Terror, the 2008 recession, and more. Even though it's easy to dismiss Davos as a meeting where ''billionaires tell millionaires what the middle class feels'', the summit has achieved quite a bit. Last year alone, there were initiatives on mental health worth $260 million, electronic waste initiatives worth $2 million, and curbing plastic pollution. However, Davos is a really costly affair. One person has to pay $5000 to spend one night at the summit, with security costs running as high as $9.35 million. In 2011, an individual membership cost $52,000.

50th World Economic Forum at Davos: Key focus on climate change, economic slowdown, sustainable growth

Gravitas: How to tackle India's growth slowdown?

In a bid to secure its plunging economy, Pakistan has been desperately trying to garner more investments and bailout packages from various entities.

The huge debt pile-up, however, would gradually force a slowdown in new projects that may push the country into a deeper economic crisis.

Recently, the International Monetary Fund (IMF) has decided to send its team this month for suggesting ways and means curtail the yawning budget deficit being faced by cash-strapped Pakistan.

Earlier in July, the global money-lender had approved a six billion US dollars&nbsp;loan to Pakistan, which is facing significant economic challenges in the backdrop of the country's large fiscal deficits and loose monetary policies.

The IMF team will discuss fiscal issues with special focus to restrict the target of primary deficit within the desired limits, according to Pakistani media reports.

In addition, the Chinese Ambassador to Pakistan, Yao Jing, has also reportedly announced that Beijing is planning to invest one billion US dollars in development projects in Pakistan, especially the CPEC that connects Gwadar Port in Balochistan with China's Xinjiang province.

"Pakistan borrowed $16B from abroad in the 2018-19 fiscal year to avoid running out of foreign currency. 42 per cent&nbsp;of that, or $6.7B, came from China. The government also approached IMF, which in July approved a $6B bailout," Jeff M. Smith, a research scholar from South Asia-Heritage Foundation, said on Twitter.

"The huge debt pile is forcing a slowdown in new projects," Smith added. Previously, the IMF had pointed out that dull progress in structural progress continued to hamper investment and allowed "inefficient state-owned entities (SOEs) to linger and a large informal economy to expand".

Citing Pakistan's finance ministry's documents, Express Tribune reported that foreign loan disbursements between July 2018 and April 2019 of the current financial year showed loans for the Karachi Nuclear Power Plants, known as K2 and K3, and China SAFE deposits as part of federal debt obligations.

Also, countries such as the UAE and Saudi Arabia have given bailout packages to the cash-strapped country in a bid to tackle its ballooning balance-of-payments crisis.

The annual fiscal deficit of Pakistan rose to the highest in the last three decades at 8.9 per cent for the financial year 2018-19. The fiscal deficit is a difference between the revenues and expenditures of the federal government.

Pakistan Prime Minister Imran Khan, who was elected on an anti-corruption plank and a pledge to end austerity measures, had vowed to improve the depleting economic situation of the cash-strapped country.

In fact, the opposite has happened. In reality, prices of gas and oil products and electricity in Pakistan have risen considerably, burning a hole in the common man's pocket. Pakistan had received the first tranche of the loan worth $991.4 million from the IMF in May.

In a bid to secure its plunging economy, Pakistan has been desperately trying to garner more investments and bailout packages from various entities. The huge debt pile-up, however, would gradually force a slowdown in new projects that may push the country into a deeper economic crisis.

In a bid to secure its plunging economy, Pakistan has been desperately trying to garner more investments and bailout packages from various entities. The huge debt pile-up, however, would gradually force a slowdown in new projects that may push the country into a deeper economic crisis. Recently, the International Monetary Fund (IMF) has decided to send its team this month for suggesting ways and means curtail the yawning budget deficit being faced by cash-strapped Pakistan. Earlier in July, the global money-lender had approved a six billion US dollars loan to Pakistan, which is facing significant economic challenges in the backdrop of the country's large fiscal deficits and loose monetary policies. The IMF team will discuss fiscal issues with special focus to restrict the target of primary deficit within the desired limits, according to Pakistani media reports. In addition, the Chinese Ambassador to Pakistan, Yao Jing, has also reportedly announced that Beijing is planning to invest one billion US dollars in development projects in Pakistan, especially the CPEC that connects Gwadar Port in Balochistan with China's Xinjiang province. "Pakistan borrowed $16B from abroad in the 2018-19 fiscal year to avoid running out of foreign currency. 42 per cent of that, or $6.7B, came from China. The government also approached IMF, which in July approved a $6B bailout," Jeff M. Smith, a research scholar from South Asia-Heritage Foundation, said on Twitter. "The huge debt pile is forcing a slowdown in new projects," Smith added. Previously, the IMF had pointed out that dull progress in structural progress continued to hamper investment and allowed "inefficient state-owned entities (SOEs) to linger and a large informal economy to expand". Citing Pakistan's finance ministry's documents, Express Tribune reported that foreign loan disbursements between July 2018 and April 2019 of the current financial year showed loans for the Karachi Nuclear Power Plants, known as K2 and K3, and China SAFE deposits as part of federal debt obligations. Also, countries such as the UAE and Saudi Arabia have given bailout packages to the cash-strapped country in a bid to tackle its ballooning balance-of-payments crisis. The annual fiscal deficit of Pakistan rose to the highest in the last three decades at 8.9 per cent for the financial year 2018-19. The fiscal deficit is a difference between the revenues and expenditures of the federal government. Pakistan Prime Minister Imran Khan, who was elected on an anti-corruption plank and a pledge to end austerity measures, had vowed to improve the depleting economic situation of the cash-strapped country. In fact, the opposite has happened. In reality, prices of gas and oil products and electricity in Pakistan have risen considerably, burning a hole in the common man's pocket. Pakistan had received the first tranche of the loan worth $991.4 million from the IMF in May.

More loans may lead to slowdown of Pakistan's crumbling economy

Slowdown hits the world's largest economy. U.S GDP Growth falls to 2% Estimated was 2.1%

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