The world is changing, and the annual World Economic Forum (WEF) in Davos is right in the eye of the storm. This year's meeting is set against a backdrop of a shifting global order, largely influenced by the policies of former U.S. President Donald Trump. A drone's-eye view of the Swiss town of Davos, the meeting's location, sets the stage for a gathering of business and political elites grappling with these monumental shifts. But what exactly is at stake? Let's dive in.
The core issue is this: the WEF's vision of a rules-based global economic order is being tested. The presence of Donald Trump, with his 'America First' agenda, throws a wrench into the works of the WEF's consensus-driven approach. This approach has often faced criticism for being a 'talking shop' for the wealthy.
Trump's policies, including trade tariffs, military interventions, and a retreat from global cooperation, have created a significant gap between his agenda and the WEF's. His administration even considered a criminal indictment of Federal Reserve Chair Jerome Powell, leading to a statement of support from top central bankers. This highlights the tension between national interests and international cooperation.
The WEF's leaders, dubbing the 56th edition "A Spirit of Dialogue", see the need for crucial discussions to map out a way forward in business and politics. Former Norwegian minister and current WEF president and CEO Borge Brende stated that "Dialogue is not a luxury, it is a necessity." However, others question the WEF's relevance, particularly with the U.S. and China flexing their power. Former Swiss ambassador and foreign relations expert Daniel Woker asks, "Who is going to be making the case for the rules-based international order?" He suggests that in a system where self-interest reigns, the WEF might become obsolete, an event from the past.
But here's where it gets controversial... The forum is also facing scrutiny due to the departure of its founder, Klaus Schwab, who stepped down as chair in April. An internal investigation found no evidence of wrongdoing, but the change in leadership adds another layer of complexity. Interim co-chairs, including BlackRock CEO Larry Fink and Roche vice-chair Andre Hoffmann, are now steering the ship.
The agenda for this year's Davos meeting is packed. Discussions will range from how to navigate Trump's interpretation of the Monroe Doctrine, which seeks U.S. dominance in the Western hemisphere, to the impact of artificial intelligence on the world. This comes after a tragic event in Switzerland, a ski resort bar fire that claimed 40 lives.
In pre-event briefings, the WEF has attempted to remain optimistic, highlighting how companies have adapted to high U.S. tariff rates and an easing of trade tensions. However, a recent WEF survey revealed that doing business became tougher in 2025, and cooperation on peace and security is facing challenges.
European leaders attending the meeting will face pressure due to Trump's policies, including threats related to Greenland and criticism of European tech regulations. Christy Hoffman, General Secretary of the UNI Global Union, is urging policymakers to address the impact of AI and new technologies on jobs. The presence of top oil executives, eager to hear Trump's energy dominance agenda, which encourages more oil and gas drilling, is another notable aspect of this year's meeting.
And this is the part most people miss... The meeting will also see a strong presence from oil executives, eager to hear Trump's agenda on energy dominance. The CEOs of Exxon Mobil, Shell, TotalEnergies, Equinor, and ENI are expected to attend, a shift from previous years when oil companies viewed the forum with skepticism. The attendance of China, which has sent top officials in recent years, remains uncertain.
What do you think? Do you believe the WEF can remain relevant in a world increasingly driven by national interests? Share your thoughts in the comments below!
