Davos needs the world more than the world needs Davos. That isn’t to say there are no mutual benefits
Save time by listening to our audio articles as you multitaskThe macro mood was sombre for good reason. High inflation doesn’t feature in the Bible but other than that the list ofs’ top concerns currently reads like the Book of Revelation: war , pestilence , famine . On top of that, one Western boss after another got an earful from their emerging-market counterparts about the global knock-on effects of the American-led sanctions against Russia on food and fuel prices.
This apocalyptic backdrop helps explain why companies reined in the pizzazz. JPMorgan Chase, an American bank, cancelled its hot-ticket party. The one thrown by Salesforce, a business-software giant, was as raucous as ever but some other corporate dos looked virtually empty. The boss of one giant firm noted the lack of “vibrancy”.
Attendance seemed down on previous years—by half or so, chief executives reckoned. Several American regulars were kept away by prior engagements . Russians were uninvited; Russia House became Russia War Crimes House, displaying images of atrocities committed by Vladimir Putin’s troops. The absence of China, whose representation fell from hundreds to a handful owing to President Xi Jinping’s zero-covid policy, made the talking shop less global—and less useful—than usual.
But not useless. This year’s worthy panel discussions will not fix globalisation, avert climate catastrophe or foster inclusive growth. At the same time, in no small part because things were less hectic, attendees reported enjoying the frank back-room chats that are the’s main draw more than ever. Individually, these are about corporate self-interest. Collectively, they can add up to something meaningful. .
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
‘I once made clothes for M&S... now I am selling my body to make ends meet’Former garment makers in Sri Lanka are having to take desperate measures to get through the economic turmoil
Read more »
The Good Fight confirmed to end with upcoming sixth season'We felt we could end the show with a pretty big bang.'
Read more »
Power: Raising Kanan season 2 trailer teases trouble for Kanan and Raquel'At the end of the day, we blood.'
Read more »
Help to Buy scheme to close five months early🏡The Help to Buy property subsidy scheme is to close for applications five months early in a blow to thousands of first-time buyers desperate to get on the housing ladder
Read more »
Darlington Beef Expo: Five arrested after rooftop protestActivists called for an end to animal farming at the National Beef Association Expo in Darlington.
Read more »
I never liked jigsaws – so what am I doing representing the US at the ‘puzzle Olympics’?I was always more of a logic and word puzzler. Yet with just one month’s training, my family and I are at the white-knuckle, high-stakes tables of the World Jigsaw Puzzle Championship
Read more »