While the temperature in Switzerland is decidedly chilly – a bracing –12C as delegates trudge through the snow or are chauffeured through traffic jams – geopolitical tensions are heating up.
Today we’ll hear from Ukraine’s president, Volodymyr Zelenskiy, as he tries to shore up support from allies as the war against Russia approaches its second anniversary.
Zelenskiy is reportedly planning to meet with JP Morgan Chase’s CEO Jamie Dimon during his visit, as he rallies economic and military support for Kiev.
According to Bloomberg, Zelenskiy “seeks to replenish the country’s coffers for its fight against Russia”.
Davos has already hosted a high-level meeting to discuss peace in Ukraine, but these talks – which don’t involve Russia – ended without a significant resolution.Ursula von der Leyen will also address delegates today, as will China’s premier, Li Qiang.
Qiang is leading a large government delegation to this year’s World Economic Forum. Yesterday Qiang met with Swiss president Viola Amherd, with the pair signing a joint declaration to deepen bilateral ties and bolster an existing free trade agreement.
The Middle East crisis is also a growing concern for leaders in Davos, with UK foreign secretary David Cameron warning last weekend that the "lights are absolutely flashing red" on the global dashboard. He’s also visiting Davos this week.
President Joe Biden’s national security adviser, Jake Sullivan, gives a speech later in the day.
Karen Harris, partner at Bain & Company, says the the “critical macro question for discussion at Davos” is whether the last four years will be remembered as a period of great disruption, or the start of a great divergence.
Harris explains:“If disruption is the correct lens for interpreting our recent history, then 2024 and beyond will transition to a level of blandness compared to the last few years, which will be a relief for leaders and markets. Rebuilding and re-normalisation will be prevailing themes of this scenario.
“But suppose 2020-2023 was not a disruption, but rather the moment of a historical divergence—a branching point when the larger arc of mega themes and trends took a steep turn. If this lens (divergence) turns out to be correct, then the loop of volatile events triggering volatile reactions resumes in 2024; the shaking of the world resumes and likely continues even beyond this year."
The agenda
• 8.15am CET / 7.15am GMT: A panel discussion on high interest rates, including Gita Gopinath, First Deputy Managing Director of the IMF, and François Villeroy de Galhau,governor of the Central Bank of France
• 8.15am CET / 7.15am GMT: A panel discussion on whether generative AI is the Steam Engine of the Fourth Industrial Revolution?
• 9.45am CET / 8.45am GMT: A Conversation with Sheikh Mohammed bin Abdulrahman Al-Thani, Prime Minister and Minister of Foreign Affairs of Qatar
• 10.50am CET / 9.50am CET: Special Address by Li Qiang, Premier of the People’s Republic of China
• 11.20am CET / 10.20am GMT: Special Address by Ursula von der Leyen, President of the European Commission
• 1pm CET / Noon GMT: Securing an Insecure World, including Jens Stoltenberg, secretary-general of NATO
• 2.15pm CET / 1.15pm GMT: Special address by Volodymyr Zelenskiy, President of Ukraine
• 4.30pm CET / 3.30pm GMT: A Conversation with Microsoft SEO Satya Nadella and Klaus Schwab, founder of WEF
• 5pm CET / 4pm GMT: Special address by Jake Sullivan, US National Security Advisor
• 5.30pm CET / 4.30pm GMT: A Conversation with Bisher Hani Al Khasawneh, prime minister of the Hashemite Kingdom of Jordan
• 5.30pm CET / 4.30pm GMT: A panel discussion on Industrial Policy 2.0, including Jonathan Reynolds, Shadow Secretary of State for Business and Trade
• 6.45pm CET / 5.45pm GMT: Chief Economists Briefing
We’ll be tracking all the main events throughout the day ... |
