US President <a href="https://www.wionews.com/tags/donald-trump" rel="dofollow noopener" target="_blank">Donald Trump</a> on Thursday (Jan 23) addressed the Davos summit virtually just days after moving into the White House following his inauguration. During his address at the World Economic Forum, the 47th US president said that he&rsquo;d like to sit down with Russian President Vladimir Putin to end the war in Ukraine.
&ldquo;I really would like to be able to meet with President Putin soon to get that war ended. And that&rsquo;s not from the standpoint of economy or anything else. It&rsquo;s from the standpoint of millions of lives are being wasted,&rdquo; Trump said.
Also read: <a href="https://www.wionews.com/world/us-president-donald-trump-addresses-davos-summit-today-world-economic-forum-massive-tax-cuts-8648204">'Nothing less than revolution,' US President Donald Trump addresses Davos summit, promises massive tax cuts</a>
"Our efforts to secure a peace settlement between Russia and Ukraine are now, hopefully, underway. It's so important to get that done," Trump added.
Noting that he has seen pictures of what&rsquo;s going on, Trump said, &ldquo;It&rsquo;s a carnage, and we really have to stop that war,&rdquo; though he made no mention of any plans on how his administration seeks to end the war that began with Russia&rsquo;s invasion of Ukraine in February 2022.&nbsp;
<h2>'If oil price came down, the Russia-Ukraine war would end immediately'</h2>
President Trump further said in his address that he would ask Saudi Arabia and OPEC to bring down the cost of oil, adding that lower oil prices could end the war in Ukraine immediately.
"I'm also going to ask Saudi Arabia and OPEC to bring down the cost of oil, you've got to bring it down. If the price came down, the Russia-Ukraine war would end immediately," he said.
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Trump also called Saudi Arabia&rsquo;s Crown Prince Mohammed bin Salman "a fantastic guy" and added that he would ask the country to increase its US investments to $1 trillion. Trump's comments at the forum come after he spoke with the crown prince in his first call with a foreign leader of his second term.
<h2>'Ukraine is ready to make a deal'</h2>
When asked whether he believed a peace agreement between Russia and Ukraine could be reached by the time he addresses the summit again next year, Trump replied, &ldquo;Well, you&rsquo;re going to have to ask Russia, Ukraine is ready to make a deal.&rdquo;
Responding to a question from the WEF President and CEO, about the relationship between US and China during the next four years, Trump said, "I think that we're going to have a very good relationship. All we want is fairness. We just want a level playing field. Right now it is not a fair relationship, the trade deficit is massive."
Trump spoke positively about Chinese President Xi Jinping, saying, &ldquo;I like President Xi very much, I've always liked him.&rdquo; 
<h2>'China can help stop the war between Russia and Ukraine'</h2>
He also highlighted China&rsquo;s potential role in helping to end the <a href="https://www.wionews.com/tags/ukraine-war" rel="dofollow">Ukraine war</a>, saying, &ldquo;Hopefully China can help us stop the war with, in particular, Russia and Ukraine. They have a great deal of power over that situation. And we&rsquo;ll work with them. And I mentioned that during our phone conversation with President Xi."
"We want to see if we can denuclearise, and I think that is possible," he added.
<h2>Trump threatens tariffs, sanctions on Russia</h2>
A day before his virtual speech, Trump had, in a post on Truth Social,&nbsp;threatened tariffs and intensified sanctions on Russia if it did not withdraw troops from Ukraine.
He said that Russia&rsquo;s economic situation is worsening, urging President Putin to &ldquo;settle now and stop this ridiculous war.&rdquo; Trump added, &ldquo;Without a deal, I have no other choice but to put high levels of taxes, tariffs, and sanctions on anything being sold by Russia to the United States, and various other participating countries.&rdquo;
(With inputs from agencies)

World: Trump highlighted China’s potential role in helping to end the Ukraine war, saying, “Hopefully China can help us stop the war with, in particular, Russia and Ukraine."

US President Donald Trump on Thursday (Jan 23) addressed the Davos summit virtually just days after moving into the White House following his inauguration. During his address at the World Economic Forum, the 47th US president said that he’d like to sit down with Russian President Vladimir Putin to end the war in Ukraine. “I really would like to be able to meet with President Putin soon to get that war ended. And that’s not from the standpoint of economy or anything else. It’s from the standpoint of millions of lives are being wasted,” Trump said. Also read: 'Nothing less than revolution,' US President Donald Trump addresses Davos summit, promises massive tax cuts "Our efforts to secure a peace settlement between Russia and Ukraine are now, hopefully, underway. It's so important to get that done," Trump added. Noting that he has seen pictures of what’s going on, Trump said, “It’s a carnage, and we really have to stop that war,” though he made no mention of any plans on how his administration seeks to end the war that began with Russia’s invasion of Ukraine in February 2022. 'If oil price came down, the Russia-Ukraine war would end immediately' President Trump further said in his address that he would ask Saudi Arabia and OPEC to bring down the cost of oil, adding that lower oil prices could end the war in Ukraine immediately. "I'm also going to ask Saudi Arabia and OPEC to bring down the cost of oil, you've got to bring it down. If the price came down, the Russia-Ukraine war would end immediately," he said. Also read: Saudi Prince Mohammed bin Salman vows $600 billion trade to US Prez Donald Trump Trump also called Saudi Arabia’s Crown Prince Mohammed bin Salman "a fantastic guy" and added that he would ask the country to increase its US investments to $1 trillion. Trump's comments at the forum come after he spoke with the crown prince in his first call with a foreign leader of his second term. 'Ukraine is ready to make a deal' When asked whether he believed a peace agreement between Russia and Ukraine could be reached by the time he addresses the summit again next year, Trump replied, “Well, you’re going to have to ask Russia, Ukraine is ready to make a deal.” Responding to a question from the WEF President and CEO, about the relationship between US and China during the next four years, Trump said, "I think that we're going to have a very good relationship. All we want is fairness. We just want a level playing field. Right now it is not a fair relationship, the trade deficit is massive." Trump spoke positively about Chinese President Xi Jinping, saying, “I like President Xi very much, I've always liked him.” 'China can help stop the war between Russia and Ukraine' He also highlighted China’s potential role in helping to end the Ukraine war, saying, “Hopefully China can help us stop the war with, in particular, Russia and Ukraine. They have a great deal of power over that situation. And we’ll work with them. And I mentioned that during our phone conversation with President Xi." "We want to see if we can denuclearise, and I think that is possible," he added. Trump threatens tariffs, sanctions on Russia A day before his virtual speech, Trump had, in a post on Truth Social, threatened tariffs and intensified sanctions on Russia if it did not withdraw troops from Ukraine. He said that Russia’s economic situation is worsening, urging President Putin to “settle now and stop this ridiculous war.” Trump added, “Without a deal, I have no other choice but to put high levels of taxes, tariffs, and sanctions on anything being sold by Russia to the United States, and various other participating countries.” (With inputs from agencies)

'They have great deal of power...' President Trump envisions US-China collaboration to end Russia-Ukraine War

US President Donald Trump delivered virtual remarks to the World Economic Forum meeting in Davos. During his address, Trump tells business leaders that he wants to reverse inflation, and cut taxes. Watch in!

Donald Trump delivers virtual address at World economic forum

US President <a href="https://www.wionews.com/tags/donald-trump" rel="dofollow noopener" target="_blank">Donald Trump</a> on Thursday (Jan 23) addressed the Davos summit, marking his first major speech to global business and political leaders since his return to power.
"This has been a truly historic week in the United States. Three days ago, I took the oath of office, and we began the golden age of America," Trump said.
"What the world has witnessed in the past 72 hours is nothing less than a revolution of common sense. My administration is acting with unprecedented speed to fix the disasters we've inherited," he added.
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"Our country will soon be stronger, wealthier, and more united than ever before, and the entire planet will be more peaceful and prosperous as a result of this incredible momentum and what we're doing and going to do," the US president said.
Promising big tax relief, Trump said, "Our majorities in the House and Senate, which we also took along with the presidency, are going to pass the largest tax cut in American history, including massive tax cuts for workers and family and big tax cuts for domestic producers and manufacturers. And we're working with the Democrats on getting an extension of the original Trump tax cuts."
<h2>'US has largest amount of oil and gas than any country on Earth'</h2>
On oil and gas use, Trump said, "I terminated the ridiculous and incredibly wasteful Green New Deal. I call it the Green New Scam, withdrew from the one-sided Paris climate accord, and ended the insane and costly electric vehicle mandate. The United States has the largest amount of oil and gas than any country on Earth, and we're going to use it." 
The 47th US president was addressing the World Economic Forum summit virtually.
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Referring to his&nbsp;recent steps on immigration crackdown, Trump said, "I've deployed active duty US military and National Guard troops to the border to assist in repelling the invasion. It was really an invasion. We will not allow our territory to be violated after four long years."
On his role in <a href="https://www.wionews.com/tags/gaza-ceasefire" rel="dofollow">Gaza ceasefire</a>, the 47th US president said,&nbsp;"Before even taking office, my team negotiated a ceasefire agreement in the Middle East, which wouldn't have happened without us."
"Our efforts to secure a peace settlement between Russia and Ukraine are now, hopefully, underway. It's so important to get that done," he added.
After Trump, TotalEnergies CEO Patrick Pouyann&eacute;, WEF CEO B&oslash;rge Brende, and WEF founder Klaus Schwab were scheduled to address the summit.
This is not the first time that Donald Trump has addressed the Davos summit.
He spoke at the summit as president in both 2018 and 2020.
(With inputs from agencies)

World: "This has been a truly historic week in the United States. Three days ago, I took the oath of office, and we began the golden age of America," Trump said.

US President Donald Trump on Thursday (Jan 23) addressed the Davos summit, marking his first major speech to global business and political leaders since his return to power. "This has been a truly historic week in the United States. Three days ago, I took the oath of office, and we began the golden age of America," Trump said. "What the world has witnessed in the past 72 hours is nothing less than a revolution of common sense. My administration is acting with unprecedented speed to fix the disasters we've inherited," he added. Also read: 'Great friend of Israel': Netanyahu defends Elon Musk after his 'Nazi' salute "Our country will soon be stronger, wealthier, and more united than ever before, and the entire planet will be more peaceful and prosperous as a result of this incredible momentum and what we're doing and going to do," the US president said. Promising big tax relief, Trump said, "Our majorities in the House and Senate, which we also took along with the presidency, are going to pass the largest tax cut in American history, including massive tax cuts for workers and family and big tax cuts for domestic producers and manufacturers. And we're working with the Democrats on getting an extension of the original Trump tax cuts." 'US has largest amount of oil and gas than any country on Earth' On oil and gas use, Trump said, "I terminated the ridiculous and incredibly wasteful Green New Deal. I call it the Green New Scam, withdrew from the one-sided Paris climate accord, and ended the insane and costly electric vehicle mandate. The United States has the largest amount of oil and gas than any country on Earth, and we're going to use it." The 47th US president was addressing the World Economic Forum summit virtually. Also read: Pakistani lawmakers demand 'apology' from Elon Musk before Starlink licence approval: Report Referring to his recent steps on immigration crackdown, Trump said, "I've deployed active duty US military and National Guard troops to the border to assist in repelling the invasion. It was really an invasion. We will not allow our territory to be violated after four long years." On his role in Gaza ceasefire, the 47th US president said, "Before even taking office, my team negotiated a ceasefire agreement in the Middle East, which wouldn't have happened without us." "Our efforts to secure a peace settlement between Russia and Ukraine are now, hopefully, underway. It's so important to get that done," he added. After Trump, TotalEnergies CEO Patrick Pouyanné, WEF CEO Børge Brende, and WEF founder Klaus Schwab were scheduled to address the summit. This is not the first time that Donald Trump has addressed the Davos summit. He spoke at the summit as president in both 2018 and 2020. (With inputs from agencies)

'Nothing less than revolution,' US President Donald Trump addresses Davos summit, promises massive tax cuts

Ukrainian President Volodymyr Zelensky said Tuesday that Europe should develop a joint defence policy and be willing to increase spending to guarantee its own security from emerging threats.
His comments to the World Economic Forum in Davos came a day after the inauguration of US President Donald Trump, who has demanded NATO members raise their defence spending and boasted he can end the war in Ukraine, without offering a clear roadmap.
Zelensky said Europe needed to be ready to stand on its own feet and must work to remain relevant as a "strong global" player and "indispensable" on the global stage.
"We need a united European security and defence policy, and all European countries must be willing to spend as much on security as is truly needed," Zelensky argued in his address to the WEF.
Also read | <a href="https://www.wionews.com/world/evidence-of-involvement-zelensky-says-ukraine-captured-two-north-korean-soldiers-in-kursk-region-8610796" rel="dofollow">'Evidence of involvement': Zelensky says Ukraine captured two North Korean soldiers in Kursk region</a>
"Europe must be able to guarantee peace and security for itself," he added.
He evoked the Kremlin's deployment of North Korean troops to western Russia to illustrate what he said were growing threats to European security.
"European leaders should remember this -- battles involving North Korean soldiers are now happening in places geographically closer to Davos than to Pyongyang," he said.
And he pointed to a recent pact between Russia and Iran boosting their economic and military cooperation, saying the accord was an example of a changing landscape that was a threat to Europe.
"Whom do they make such deals against? Against you, against all of us," he said. "Such threats can only be countered together," he added.
Also watch | 'America's focus must shift to Europe': Zelensky at WEF
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Zelensky also questioned whether Trump was committed to NATO and European security, claiming that Washington has openly indicated their security priorities lie in the Middle East and in the Asia-Pacific region.
"Will President Trump even notice Europe? Does he see NATO as necessary? And will he respect EU institutions?" Zelensky asked.
Disclaimer: This story has been published from a news agency feed with minimal edits to adhere to WION's style guide. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION audience.

At Davos, Zelensky evoked the Kremlin's deployment of North Korean troops to western Russia to illustrate what he said were growing threats to European security.

Ukrainian President Volodymyr Zelensky said Tuesday that Europe should develop a joint defence policy and be willing to increase spending to guarantee its own security from emerging threats. His comments to the World Economic Forum in Davos came a day after the inauguration of US President Donald Trump, who has demanded NATO members raise their defence spending and boasted he can end the war in Ukraine, without offering a clear roadmap. Zelensky said Europe needed to be ready to stand on its own feet and must work to remain relevant as a "strong global" player and "indispensable" on the global stage. "We need a united European security and defence policy, and all European countries must be willing to spend as much on security as is truly needed," Zelensky argued in his address to the WEF. Also read | 'Evidence of involvement': Zelensky says Ukraine captured two North Korean soldiers in Kursk region "Europe must be able to guarantee peace and security for itself," he added. He evoked the Kremlin's deployment of North Korean troops to western Russia to illustrate what he said were growing threats to European security. "European leaders should remember this -- battles involving North Korean soldiers are now happening in places geographically closer to Davos than to Pyongyang," he said. And he pointed to a recent pact between Russia and Iran boosting their economic and military cooperation, saying the accord was an example of a changing landscape that was a threat to Europe. "Whom do they make such deals against? Against you, against all of us," he said. "Such threats can only be countered together," he added. Also watch | 'America's focus must shift to Europe': Zelensky at WEF Zelensky also questioned whether Trump was committed to NATO and European security, claiming that Washington has openly indicated their security priorities lie in the Middle East and in the Asia-Pacific region. "Will President Trump even notice Europe? Does he see NATO as necessary? And will he respect EU institutions?" Zelensky asked. Disclaimer: This story has been published from a news agency feed with minimal edits to adhere to WION's style guide. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION audience.

At WEF in Davos, Ukraine's Zelensky questions whether Trump is committed to NATO

Ukrainian President Volodymyr Zelensky took part in the World Economic Forum (WEF) at Davos. During his address at the event, Zelensky said that 'Europe must shape its history'.

'America's focus must shift to Europe', Says Zelensky at WEF

Global leaders pointed out that the escalating <a href="https://www.wionews.com/tags/armed-conflicts" rel="dofollow">armed conflict</a> is the most urgent threat in 2025, however, the climate emergency is expected to cause the greatest concern over the next decade, according to the World Economic Forum (WEF).&nbsp;
The WEF asked more than 900 leaders from business, politics, and academia about the risks that most concern them.&nbsp;
The report identifies and analyses the most crucial risks across immediate, short, and long-term horizons, aiming to equip leaders with foresight to address emerging challenges.&nbsp;
Also read: <a href="https://www.wionews.com/world/world-economic-forum-wef-report-78-million-new-jobs-added-by-2030-led-by-ai-big-data-and-cybersecurity-8602988" rel="dofollow">WEF report: 78mn new jobs to be added by 2030, led by AI, big data and cybersecurity</a>
Notably, 23 per cent of respondents feared "state-based armed conflict" ahead of next year, as the Russia-Ukraine war continues and other major deadly clashes continue, including in Sudan and Gaza.&nbsp;
Moreover, in line, "extreme weather events" is the second most common risk, highlighted for 2025, singled out by 14 per cent of respondents.&nbsp;
This comes as devastating wildfires have engulfed Log Angeles, leading to the evacuation of millions of people.&nbsp;
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A series of dramatic floods, droughts, and fires raged through last year, underlining the impact of the climate crisis on weather patterns.&nbsp;
According to the scientists' findings, global heating makes such events more likely, and in many cases, it makes them extreme.&nbsp;
Gim Huay Neo, the WEF&rsquo;s managing director, said, &ldquo;The climate and nature crisis requires urgent attention and action. In 2024, annual global warming reached a record 1.54C above the preindustrial average, with many parts of the world experiencing unprecedented, catastrophic weather events.&rdquo;
Also read: <a href="https://www.wionews.com/world/number-of-children-killed-due-to-armed-conflicts-tripled-in-one-year-un-732928" rel="dofollow">Number of children killed due to armed conflicts tripled in one year</a>
Further, two concerns related to technological innovation were next on the list of threats, "misinformation and disinformation&rdquo;, followed by &ldquo;adverse outcomes of AI technologies&rdquo;.
Other leading short-term risks include extreme weather events, societal polarisation, cyber-espionage, and warfare.
Moreover, over half of respondents expected some instability within two years, which shows the widespread fracturing of international cooperation.&nbsp;
(With inputs from agencies)

World, trending: 23 per cent of respondents feared "state-based armed conflict" ahead of next year, as the Russia-Ukraine war continues and other major deadly clashes continue.

Global leaders pointed out that the escalating armed conflict is the most urgent threat in 2025, however, the climate emergency is expected to cause the greatest concern over the next decade, according to the World Economic Forum (WEF). The WEF asked more than 900 leaders from business, politics, and academia about the risks that most concern them. The report identifies and analyses the most crucial risks across immediate, short, and long-term horizons, aiming to equip leaders with foresight to address emerging challenges. Also read: WEF report: 78mn new jobs to be added by 2030, led by AI, big data and cybersecurity Notably, 23 per cent of respondents feared "state-based armed conflict" ahead of next year, as the Russia-Ukraine war continues and other major deadly clashes continue, including in Sudan and Gaza. Moreover, in line, "extreme weather events" is the second most common risk, highlighted for 2025, singled out by 14 per cent of respondents. This comes as devastating wildfires have engulfed Log Angeles, leading to the evacuation of millions of people. Also read: WEF warns AI-driven disinformation may pose risk to elections around the world A series of dramatic floods, droughts, and fires raged through last year, underlining the impact of the climate crisis on weather patterns. According to the scientists' findings, global heating makes such events more likely, and in many cases, it makes them extreme. Gim Huay Neo, the WEF’s managing director, said, “The climate and nature crisis requires urgent attention and action. In 2024, annual global warming reached a record 1.54C above the preindustrial average, with many parts of the world experiencing unprecedented, catastrophic weather events.” Also read: Number of children killed due to armed conflicts tripled in one year Further, two concerns related to technological innovation were next on the list of threats, "misinformation and disinformation”, followed by “adverse outcomes of AI technologies”. Other leading short-term risks include extreme weather events, societal polarisation, cyber-espionage, and warfare. Moreover, over half of respondents expected some instability within two years, which shows the widespread fracturing of international cooperation. (With inputs from agencies)

'Armed conflict' most urgent threat for world in 2025: WEF

The World Economic Forum (WEF) released its Future of Jobs Report 2025 on Tuesday (Jan 7), forecasting a significant shift in the global job market. According to the report, by 2030, 170 million new jobs will be created worldwide, while 92 million jobs will be displaced, resulting in a net increase of 78 million jobs.
The report, based on data from over 1,000 companies, identifies the skill gap as the primary challenge to business transformation. Companies are struggling to find the right talent to match evolving technological demands.
Also Read | <a href="https://www.wionews.com/world/south-korea-crisis-impeached-prez-yoons-legal-team-says-willing-to-comply-with-warrant-only-if-8602752">South Korea: Impeached Prez Yoon&rsquo;s legal team says willing to comply with warrant &lsquo;only if...&rsquo;</a>
<h2>Top 10 fastest-growing skills by 2030</h2>
The WEF report outlines the fastest-growing skills over the next five years, with Artificial Intelligence (AI) and big data leading the charge. These skills are expected to see the highest demand by 2030, followed closely by networks and cybersecurity, which are also critical for navigating the future job market.
Other important skills identified include technological literacy (ranked third), creativity (fourth), resilience, flexibility, and agility (fifth). curiosity and lifelong learning (sixth), leadership and social influence (seventh), talent management (eighth), analytical thinking (ninth), and environmental stewardship (tenth) round out the top 10 fastest-growing skills.
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<h2>AI and Big Data lead skill growth AI and big data are predicted to see the most dramatic rise, with an expected increase of 87 per cent, followed closely by networks and cybersecurity, which are set to grow by 70 per cent. Creative thinking, along with resilience, flexibility, and agility, will see a 66 per cent increase in demand.</h2>
While many skills are projected to grow, some traditional abilities are expected to see a decline. 'Dependability and attention to detail' will increase by just 12 per cent, while skills like 'reading, writing, and mathematics' are expected to drop by 4 per cent. The decline in 'manual dexterity, endurance and precision' is forecasted at a significant -24 per cent.
(With inputs from agencies)

World | The report, based on data from over 1,000 companies, identifies the skill gap as the primary challenge to business transformation. Companies are struggling to find the right talent to match evolving technological demands.

The World Economic Forum (WEF) released its Future of Jobs Report 2025 on Tuesday (Jan 7), forecasting a significant shift in the global job market. According to the report, by 2030, 170 million new jobs will be created worldwide, while 92 million jobs will be displaced, resulting in a net increase of 78 million jobs. The report, based on data from over 1,000 companies, identifies the skill gap as the primary challenge to business transformation. Companies are struggling to find the right talent to match evolving technological demands. Also Read | South Korea: Impeached Prez Yoon’s legal team says willing to comply with warrant ‘only if...’ Top 10 fastest-growing skills by 2030 The WEF report outlines the fastest-growing skills over the next five years, with Artificial Intelligence (AI) and big data leading the charge. These skills are expected to see the highest demand by 2030, followed closely by networks and cybersecurity, which are also critical for navigating the future job market. Other important skills identified include technological literacy (ranked third), creativity (fourth), resilience, flexibility, and agility (fifth). curiosity and lifelong learning (sixth), leadership and social influence (seventh), talent management (eighth), analytical thinking (ninth), and environmental stewardship (tenth) round out the top 10 fastest-growing skills. Also Read | Donald Trump’s inauguration: Which world leaders will attend? Is PM Modi invited? AI and Big Data lead skill growth AI and big data are predicted to see the most dramatic rise, with an expected increase of 87 per cent, followed closely by networks and cybersecurity, which are set to grow by 70 per cent. Creative thinking, along with resilience, flexibility, and agility, will see a 66 per cent increase in demand. While many skills are projected to grow, some traditional abilities are expected to see a decline. 'Dependability and attention to detail' will increase by just 12 per cent, while skills like 'reading, writing, and mathematics' are expected to drop by 4 per cent. The decline in 'manual dexterity, endurance and precision' is forecasted at a significant -24 per cent. (With inputs from agencies)

WEF report: 78mn new jobs to be added by 2030, led by AI, big data and cybersecurity

Businesses are being urged to take immediate action to address growing climate risks. According to the World Economic Forum, climate hazards such as extreme heat could cause billions in losses. Our next report explores the financial risks and opportunities businesses face as they navigate the evolving climate landscape. Take a look…

Climate Risks Could Slash Earnings by 7% by 2035, Warns WEF

Chief economists have expressed cautious optimism over the global economy, particularly highlighting India's robust performance that put South Asia at the top position globally, according to the latest survey by the World Economic Forum.

A survey released last week by the World Economic Forum makes a series of noteworthy predictions and reveals easing inflation and strong global commerce as key drivers of the optimism for recovery; however, it also points out accelerating debt levels that challenge advanced and developing economies alike.

Brief history of World Economic Forum<o:p></o:p>

The World Economic Forum (WEF) is an international non-governmental organization, think tank and lobbying organisation based in Cologny, Canton of Geneva, Switzerland. It was founded on 24 January 1971 by German engineer Klaus Schwab.

The foundation, which is mostly funded by its 1,000 member companies, typically global enterprises with more than five billion US dollars in turnover, as well as public subsidies, states that its own mission is "improving the state of the world by engaging business, political, academic, and other leaders of society to shape global, regional, and industry agendas".

The Forum claims that a globalized world is best managed by a self-selected coalition of multinational corporations, governments, and civil society organizations (CSOs), which it expresses through initiatives like the "Great Reset" and the "Global Redesign". It states that it views periods of global instability such as the financial crisis of 2007–2008 and the COVID-19 pandemic, as windows of opportunity to intensify its programmatic efforts.

WEF Outlook<o:p></o:p>

According to a report detailed by the Press Trust of India, The WEF Chief Economists Outlook has revealed that the spectrum of debt and fiscal stress is only rising, which is making economists worried about the cost of servicing debt that will yield the starkest constraint on key investment areas such as infrastructure, education, and healthcare. In particular, 39 per cent of economists polled from developing nations expected a rise in defaults in the next year.

Regionally, almost 90 per cent of economists expect moderate to strong growth in the US over the next two years through 2025 while still confident that it will have a "soft landing" post-tight monetary policy. Europe is expected to be experiencing weak growth and China faces similar problems with nearly 40 per cent expecting weak or very weak growth over the next two years.

South Asia is very different. Over 70 per cent of economists are positive regarding the prospects for strong growth in 2024 and 2025, mainly due to India's performance. The International Monetary Fund recently adjusted India's GDP growth forecast from 6.8 per cent to 7 per cent, showing again the vibrancy of the region.

Further, according to Saadia Zahidi, WEF's managing director, the global economy enters 2024 with new signs of stabilization but fiscal challenges remain. The role of coordinated policy efforts in facilitating resilient recovery is perceived here to be quite important. The survey suggests limited fiscal space for facing future crises; developing economies are vulnerable to dealing with long-term challenges such as climate change and demographic shifts.

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Chief economists have expressed cautious optimism over the global economy, particularly highlighting India's robust performance that put South Asia at the top position globally, according to the latest survey by the World Economic Forum.

Chief economists have expressed cautious optimism over the global economy, particularly highlighting India's robust performance that put South Asia at the top position globally, according to the latest survey by the World Economic Forum. A survey released last week by the World Economic Forum makes a series of noteworthy predictions and reveals easing inflation and strong global commerce as key drivers of the optimism for recovery; however, it also points out accelerating debt levels that challenge advanced and developing economies alike. Brief history of World Economic Forum The World Economic Forum (WEF) is an international non-governmental organization, think tank and lobbying organisation based in Cologny, Canton of Geneva, Switzerland. It was founded on 24 January 1971 by German engineer Klaus Schwab. The foundation, which is mostly funded by its 1,000 member companies, typically global enterprises with more than five billion US dollars in turnover, as well as public subsidies, states that its own mission is "improving the state of the world by engaging business, political, academic, and other leaders of society to shape global, regional, and industry agendas". The Forum claims that a globalized world is best managed by a self-selected coalition of multinational corporations, governments, and civil society organizations (CSOs), which it expresses through initiatives like the "Great Reset" and the "Global Redesign". It states that it views periods of global instability such as the financial crisis of 2007–2008 and the COVID-19 pandemic, as windows of opportunity to intensify its programmatic efforts. WEF Outlook According to a report detailed by the Press Trust of India, The WEF Chief Economists Outlook has revealed that the spectrum of debt and fiscal stress is only rising, which is making economists worried about the cost of servicing debt that will yield the starkest constraint on key investment areas such as infrastructure, education, and healthcare. In particular, 39 per cent of economists polled from developing nations expected a rise in defaults in the next year. Regionally, almost 90 per cent of economists expect moderate to strong growth in the US over the next two years through 2025 while still confident that it will have a "soft landing" post-tight monetary policy. Europe is expected to be experiencing weak growth and China faces similar problems with nearly 40 per cent expecting weak or very weak growth over the next two years. South Asia is very different. Over 70 per cent of economists are positive regarding the prospects for strong growth in 2024 and 2025, mainly due to India's performance. The International Monetary Fund recently adjusted India's GDP growth forecast from 6.8 per cent to 7 per cent, showing again the vibrancy of the region. Further, according to Saadia Zahidi, WEF's managing director, the global economy enters 2024 with new signs of stabilization but fiscal challenges remain. The role of coordinated policy efforts in facilitating resilient recovery is perceived here to be quite important. The survey suggests limited fiscal space for facing future crises; developing economies are vulnerable to dealing with long-term challenges such as climate change and demographic shifts.

Leading economists bullish on India, still cautious optimism prevails for global recovery: WEF survey

Chinese premier Li Qiang has issued a stark warning against economic decoupling, stating that such 'regressive actions' could lead to a global 'destructive spiral.' Speaking at the World Economic Forum in Dalian, Li defended China's industrial policies amid criticism of overcapacity and the dumping of cheap goods. Watch in for more details!

China premier warns of global economic turmoil from decoupling

Chinese Premier Li Qiang hits back at the US and the European Union on claims that Chinese firms benefit from unfair subsidies and 'flood' global markets with cheap goods. His comments came during his address at a World Economic Forum meeting in Dalian.

'China's production of advanced electric vehicles, lithium-ion batteries and photovoltaic products, first met out domestic demand, but also enrich global supply', he said in his opening remarks. 'The rapid rise of China's new industries is rooted in our own unique comparative advantages', he added.

China and the European Union are preparing to host talks on the planned EV tariffs on Chinese EVs. China is already facing tariff hikes from the US, with Canada also contemplating similar tariffs. China is facing a slowdown in domestic demand, making it paramount for the second-largest economy to expand its exports. This has triggered trade impositions by major economies, with the US &amp; the EU at the forefront.

China is currently using various tactics to avert EU tariffs. The country is already contemplating a probe into EU pork imports. China is also talking to other stakeholders, including German car manufacturers, to persuade the EU to reverse its decision. 'The continuous emergence of economies of scale can effectively dilute enterprises' innovation costs, which is the real source of the strong competitiveness of China's new industries', Li said.

China denies overcapacity problems, stating that demand will soon equal supply as the economy recovers. The country is also maintaining its growth target of 5 per cent for 2024. Still, recovery seems subdued due to domestic slump and trade tensions with major markets.

Chinese Premier Li Qiang hits back at the US and the European Union on claims that Chinese firms benefit from unfair subsidies and 'flood' global markets with cheap goods.

Chinese Premier Li Qiang hits back at the US and the European Union on claims that Chinese firms benefit from unfair subsidies and 'flood' global markets with cheap goods. His comments came during his address at a World Economic Forum meeting in Dalian. 'China's production of advanced electric vehicles, lithium-ion batteries and photovoltaic products, first met out domestic demand, but also enrich global supply', he said in his opening remarks. 'The rapid rise of China's new industries is rooted in our own unique comparative advantages', he added. China and the European Union are preparing to host talks on the planned EV tariffs on Chinese EVs. China is already facing tariff hikes from the US, with Canada also contemplating similar tariffs. China is facing a slowdown in domestic demand, making it paramount for the second-largest economy to expand its exports. This has triggered trade impositions by major economies, with the US & the EU at the forefront. China is currently using various tactics to avert EU tariffs. The country is already contemplating a probe into EU pork imports. China is also talking to other stakeholders, including German car manufacturers, to persuade the EU to reverse its decision. 'The continuous emergence of economies of scale can effectively dilute enterprises' innovation costs, which is the real source of the strong competitiveness of China's new industries', Li said. China denies overcapacity problems, stating that demand will soon equal supply as the economy recovers. The country is also maintaining its growth target of 5 per cent for 2024. Still, recovery seems subdued due to domestic slump and trade tensions with major markets.

Chinese Premier counters 'overcapacity' claims, says we 'enrich global supply'

The World Economic Forum in Riyadh is grappling with a complex challenge: Ensuring energy security for all while transitioning to a greener future. Nearly 800 million people globally lack access to basic electricity.

World Economic Forum focuses on energy security & access

Palestinian President Mahmoud Abbas said on Sunday only the United States could stop Israel attacking the border city of Rafah in Gaza, adding that the assault, which he expects within days, could force much of the Palestinian population to flee the enclave.

World Economic Forum: Over 1000 leaders meet in Saudi Arabia | Palestine's Abbas discusses Gaza crisis

World Economic Forum: Over 1000 International leaders hold Gaza talks in Riyadh

The covid pandemic, geopolitical tensions and disruptive technologies have changed the global economy. These changes seem to be irreversable, heralding the new economic normal. In the 'new normal', geopolitical fragmentation, elevated debt levels, & disruptive technologies like a-I will dictate the economy.

Davos 2024: Leaders bat for global structural reforms at Davos summit

The 54th edition of the World Economic Forum Summit at Davos came to an end on Friday. Over the last five days, global leaders, industry titans & thought leaders deliberated on 'rebuilding trust' amid rising uncertainties around the world.

Davos 2024: Key takeaways from World Economic Forum 2024

Day 4 discussions at the World Economic Forum in Davos unfolded against the backdrop of global challenges. The focus was on key themes of security, the future of artificial intelligence, advancing the energy transition, and the pivotal role of trade in driving economic growth.

Day 4 at Davos: AI governance takes center stage

US Secretary of State Antony Blinken on Wednesday (Jan 17) said that the "remarkable achievements" of the Indian Prime Minister Narendra Modi and his government have benefited the relations of many ally countries as he weighed in on India as an "extraordinary success story".&nbsp;

While speaking at the World Economic Forum (WEF), Blinken highlighted that the relations between India and the United States have been established to a new level, and added that conversation between both nations always underscores the significance of democracy and human rights.&nbsp;

"We see an extraordinary success story and we see the remarkable achievements that Prime Minister Modi has achieved moving forward under his watch that have materially benefited and positively affected so many of the allies," he said.&nbsp;

Also read:&nbsp;<a href="https://www.wionews.com/south-asia/exclusive-pakistan-calls-airspace-violation-by-iran-sad-incident-says-have-taken-measures-680919">Exclusive: Pakistan calls airspace violation by Iran ‘sad incident’, says ‘have taken measures’</a>&nbsp;

Blinken was asked whether or not the rise of Hindu nationalism in India concerns the US, despite the country's strong economic growth and infrastructure development under the Modi government.&nbsp;

"We also see our relationship between our countries that is in a new place at a new level. That's been a very deliberate effort by both the Prime Minister and President Biden," he added.&nbsp;

"At the same time, a constant and regular part of our conversation is the conversation about democracy and about human rights," Blinken said.&nbsp;

Also read:&nbsp;<a href="https://www.wionews.com/world/red-sea-tensions-why-yemens-houthis-could-become-americas-terrorists-once-again-680920">Red Sea tensions: How Yemen’s Houthis became America’s ‘terrorists’ once again</a>&nbsp;

Blinken said that when Biden took office, he wanted to make sure that the US put back into our foreign policy, including fundamental concerns about democracy, and human rights.&nbsp;

"Because of the nature of the relationship, we have with the country, with the government, it's part of very sustain, very real conversation and the conversation that we have off course produces positive change," he added.&nbsp;

Watch:&nbsp;Israel military says it targeted head of a terrorist cell

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<h2>Blinken on Israel-Hamas war&nbsp;</h2>

While talking about the West Asian crisis, Blinken called on Israel to help the Palestinian Authority, saying that Israel's long-term security was at stake.&nbsp;

He renewed his call for a "pathway to a Palestinian state" despite the fact that Washington backs Israel's Gaza campaign launched in response to the October 7 Hamas attack.&nbsp;

"You're not going to get the genuine security you need absent that. And, of course, to that end as well, a stronger, reformed Palestinian Authority that can more effectively deliver for its own people has to be part of the equation," Blinken said.&nbsp;

<h2>Blinken flight delayed by 'critical failure'&nbsp;</h2>

Meanwhile, Blinken was forced to delay his return Wednesday from Switzerland due to aeroplane trouble. He was unable to leave Zurich due to what a US official called a "critical failure" of the aeroplane due to an oxygen leak.&nbsp;

A separate plane was sent to retrieve Blinken, who had flown from Davos to Zurich by helicopter, with aides returning to Washington by commercial flight.&nbsp;

(With inputs from agencies)&nbsp;

US Secretary of State Antony Blinken on Wednesday (Jan 17) said that the "remarkable achievements" of the Indian Prime Minister Narendra Modi and his government have benefited the relations of many ally countries as he weighed in on India as an "extraordinary success story".

US Secretary of State Antony Blinken on Wednesday (Jan 17) said that the "remarkable achievements" of the Indian Prime Minister Narendra Modi and his government have benefited the relations of many ally countries as he weighed in on India as an "extraordinary success story". While speaking at the World Economic Forum (WEF), Blinken highlighted that the relations between India and the United States have been established to a new level, and added that conversation between both nations always underscores the significance of democracy and human rights. "We see an extraordinary success story and we see the remarkable achievements that Prime Minister Modi has achieved moving forward under his watch that have materially benefited and positively affected so many of the allies," he said. Also read: Exclusive: Pakistan calls airspace violation by Iran ‘sad incident’, says ‘have taken measures’ Blinken was asked whether or not the rise of Hindu nationalism in India concerns the US, despite the country's strong economic growth and infrastructure development under the Modi government. "We also see our relationship between our countries that is in a new place at a new level. That's been a very deliberate effort by both the Prime Minister and President Biden," he added. "At the same time, a constant and regular part of our conversation is the conversation about democracy and about human rights," Blinken said. Also read: Red Sea tensions: How Yemen’s Houthis became America’s ‘terrorists’ once again Blinken said that when Biden took office, he wanted to make sure that the US put back into our foreign policy, including fundamental concerns about democracy, and human rights. "Because of the nature of the relationship, we have with the country, with the government, it's part of very sustain, very real conversation and the conversation that we have off course produces positive change," he added. Watch: Israel military says it targeted head of a terrorist cell × Blinken on Israel-Hamas war While talking about the West Asian crisis, Blinken called on Israel to help the Palestinian Authority, saying that Israel's long-term security was at stake. He renewed his call for a "pathway to a Palestinian state" despite the fact that Washington backs Israel's Gaza campaign launched in response to the October 7 Hamas attack. "You're not going to get the genuine security you need absent that. And, of course, to that end as well, a stronger, reformed Palestinian Authority that can more effectively deliver for its own people has to be part of the equation," Blinken said. Blinken flight delayed by 'critical failure' Meanwhile, Blinken was forced to delay his return Wednesday from Switzerland due to aeroplane trouble. He was unable to leave Zurich due to what a US official called a "critical failure" of the aeroplane due to an oxygen leak. A separate plane was sent to retrieve Blinken, who had flown from Davos to Zurich by helicopter, with aides returning to Washington by commercial flight. (With inputs from agencies)

Blinken says US sees India as ‘extraordinary success story’, praises Modi govt

US Secretary of State Antony Blinken on Wednesday described India as an “extraordinary success story” and said that the policies and programs implemented by Prime Minister Narendra Modi have proven highly advantageous for the people of India.

US State Secretary Blinken Hails Modi's India at World Economic Forum

"Tax the rich" remained one of the most popular slogans in recent years to bridge the gap between the rich and poor, as over the years, people have shown frustration over very wealthy people and corporations not paying their fair share of taxes.&nbsp;

The same call was made on Wednesday (Jan 17) at the annual World Economic Forum in Davos, Switzerland as more than 250 billionaires and millionaires demanded an introduction of wealth taxes to be paid for better public services worldwide.&nbsp;

In an open letter to world leaders, the wealthy people said: "We are surprised that you have failed to answer a simple question that we have been asking for three years: when will you tax extreme wealth?"&nbsp;

Also read:&nbsp;<a href="https://www.wionews.com/world/blinken-says-us-sees-india-as-extraordinary-success-story-praises-modi-govt-680985">Blinken says US sees India as ‘extraordinary success story’, praises Modi govt</a>&nbsp;

"Our request is simple: we ask you to tax us, the very richest in society," added the letter, whose title is "Proud To Pay More".&nbsp;

"This will not fundamentally alter our standard of living, nor deprive our children, nor harm our nation’s economic growth. But it will turn extreme and unproductive private wealth into an investment for our common democratic future," it further read.&nbsp;

Those who signed the letter include, screenwriter Simon Pegg, Disney heir Abigail Disney, and Valerie Rockefeller, who is an heir to the famed US family.&nbsp;

As quoted by CNBC, Succession TV series star Brian Cox, who is also a signatory, said: "Billionaires are wielding their extreme wealth to accumulate political power and influence, simultaneously undermining democracy and the global economy."&nbsp;

"It's long past time to act. If our elected officials refuse to address this concentration of money and power, the consequences will be dire," said the actor, who played fictional billionaire Logan Roy in Succession.&nbsp;

Watch:&nbsp;Blinken praises India at World Economic Forum

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Also read:&nbsp;<a href="https://www.wionews.com/south-asia/exclusive-pakistan-calls-airspace-violation-by-iran-sad-incident-says-have-taken-measures-680919">Exclusive: Pakistan calls airspace violation by Iran ‘sad incident’, says ‘have taken measures’</a>&nbsp;

<h2>Oxfam report on the world's five richest men&nbsp;</h2>

The calls for "tax the rich" come a few days after the charity Oxfam revealed that the world's wealthiest five men have more than doubled their fortune since 2020. It urged the nations to resist the ultra-rich's influence over tax policy.&nbsp;

A report, published at the World Economic Forum in Davos this week, said their wealth rose from $405 billion in 2020 to $869 billion last year.&nbsp;

Oxfam said that yet since 2020, nearly five billion people worldwide have grown poorer.&nbsp;

Billionaires are today $3.3 trillion richer than they were in 2020, despite many crises devastating the world's economy since this decade began, including the Covid pandemic.&nbsp;

(With inputs from agencies)&nbsp;

"Tax the rich" remained one of the most popular slogans in recent years to bridge the gap between the rich and poor, as over the years, people have shown frustration over very wealthy people and corporations not paying their fair share of taxes.

"Tax the rich" remained one of the most popular slogans in recent years to bridge the gap between the rich and poor, as over the years, people have shown frustration over very wealthy people and corporations not paying their fair share of taxes. The same call was made on Wednesday (Jan 17) at the annual World Economic Forum in Davos, Switzerland as more than 250 billionaires and millionaires demanded an introduction of wealth taxes to be paid for better public services worldwide. In an open letter to world leaders, the wealthy people said: "We are surprised that you have failed to answer a simple question that we have been asking for three years: when will you tax extreme wealth?" Also read: Blinken says US sees India as ‘extraordinary success story’, praises Modi govt "Our request is simple: we ask you to tax us, the very richest in society," added the letter, whose title is "Proud To Pay More". "This will not fundamentally alter our standard of living, nor deprive our children, nor harm our nation’s economic growth. But it will turn extreme and unproductive private wealth into an investment for our common democratic future," it further read. Those who signed the letter include, screenwriter Simon Pegg, Disney heir Abigail Disney, and Valerie Rockefeller, who is an heir to the famed US family. As quoted by CNBC, Succession TV series star Brian Cox, who is also a signatory, said: "Billionaires are wielding their extreme wealth to accumulate political power and influence, simultaneously undermining democracy and the global economy." "It's long past time to act. If our elected officials refuse to address this concentration of money and power, the consequences will be dire," said the actor, who played fictional billionaire Logan Roy in Succession. Watch: Blinken praises India at World Economic Forum × Also read: Exclusive: Pakistan calls airspace violation by Iran ‘sad incident’, says ‘have taken measures’ Oxfam report on the world's five richest men The calls for "tax the rich" come a few days after the charity Oxfam revealed that the world's wealthiest five men have more than doubled their fortune since 2020. It urged the nations to resist the ultra-rich's influence over tax policy. A report, published at the World Economic Forum in Davos this week, said their wealth rose from $405 billion in 2020 to $869 billion last year. Oxfam said that yet since 2020, nearly five billion people worldwide have grown poorer. Billionaires are today $3.3 trillion richer than they were in 2020, despite many crises devastating the world's economy since this decade began, including the Covid pandemic. (With inputs from agencies)

Calls for 'tax the rich' echo again at World Economic Forum: 'When will you tax extreme wealth?'

Blinken praises India at World Economic Forum

The outlook for 2024 is filled with twists and turns, according to insights shared by chief economists at the recent davos meeting. More than half of these top economic thinkers predict that the world's economic engine might sputter a bit this year, facing challenges from tight financial conditions, political disagreements, and the swift rise of generative artificial intelligence.

Chief economists flag growing wealth gap among nations

Political and business leaders have gathered at Davos, Switzerland, for the annual World Economic Forum. Here, they will discuss the global economy's myriad challenges, such as poverty and climate change, but a recent report by Oxfam exposes the hypocrisy of the global elite. It exposes how while workers worldwide face wage cuts, the rich profited from their pain.

Gravitas | Davos 2024: Musk, Bezos, billionaires double their fortune | How did they get so rich?

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Blinken says US sees India as ‘extraordinary success story’, praises Modi govt

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Calls for 'tax the rich' echo again at World Economic Forum: 'When will you tax extreme wealth?'

Blinken praises India at World Economic Forum

Chief economists flag growing wealth gap among nations

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