On January 23, President Trump will deliver a speech to the world’s most powerful and wealthiest individuals at the World Economic Forum (WEF) in Davos, Switzerland. The speech will be conducted through a video conference. Last year, at the Davos summit, Trump’s record-breaking primary victory in Iowa raised concerns among some business and political leaders, especially in Europe. The possibility of Trump returning to the White House became a major topic of discussion at the time.
With Trump back in office, global elites in Davos may closely watch the message conveyed by the new U.S. president. Corporate executives, bankers, and policymakers gathered in Davos, the Alpine ski resort, from January 20th to 24th to participate in the 55th annual World Economic Forum.
Trump has publicly criticized the WEF’s advocacy of Diversity, Equity, and Inclusion (DEI) as well as the Environmental, Social, and Governance (ESG) initiatives. Since taking office, he has signed multiple executive orders aimed at eliminating DEI-focused policies and projects within the federal government. He has also issued memoranda directing all federal employees involved in DEI initiatives to be placed on paid leave.
Furthermore, he has ordered that any school that enforces DEI terms or employs contractors engaging in such practices will have federal funding suspended. During his first term, Trump visited Davos twice, in 2018 and 2020, to attend the World Economic Forum meetings. In his keynote address in 2020, he promoted protectionist trade policies and emphasized America’s position as the world’s largest producer of oil and natural gas.
He also expressed concerns about NATO’s overreliance on the United States and urged member countries to increase defense spending. German economist and professor Klaus Schwab founded the World Economic Forum in 1971 with the aim of promoting Stakeholder Capitalism, advocating for businesses to serve the interests of all stakeholders, not just focusing on shareholders.
Over the years, the World Economic Forum has evolved into a globally recognized dialogue forum, bringing together public and private sectors to address pressing global challenges such as climate crisis, poverty, wealth inequality, food security, and pandemics. However, in recent years, the forum has faced increasing criticism, questioning the effectiveness of its debates in addressing the plight of ordinary people.
Climate issues remain a focal point at Davos. However, attendees’ use of private jets has led to accusations of hypocrisy. Additionally, concerns about the forum’s credibility have arisen due to the inclusion of individuals with dubious human rights records, such as leaders of the Chinese Communist Party.