(Finance) – Avoiding a global recession caused by growing geopolitical fragmentation on the trade and investment front and by high inflation. This will be the focus of the “Wef23” which opens next week in Davos. The World Economic Forum – as announced by the organization – will see a record attendance of finance ministers, 57, a massive influx of central bankers, 17, and a strong representation of European heads of state and government. The founder and executive chairman of the WEF Charles Schwab spoke of “record” attendances with over 2,700 leaders.
The central theme of the Wef23 “Cooperation in a fragmented world” – explained the president of the Geneva-based organization, Borge Brende – will be “avoiding a global recession: there will be no global recovery without boosting trade and
global investments” threatened by geopolitical tensions.
Ample space in the Davos panels will be dedicated to war in Ukraine. The organization, however, citing security reasons, did not confirm the rumors of an arrival of president Volodymyr Zelensky.
On the front of the European institutions, among others, the Commission President Ursula von der Leyen with the deputy Valdis Dombrovskis, there President of the European Parliament Roberta Metsolahey Commissioners Gentiloni (Economic Affairs), Hahn (Budget), Simson (Energy). There will also be the ECB President Christine Lagarde, who will speak on two panels of the Forum, on Thursday with Dombrovskis and on Friday with IMF president Kristalina Georgieva. The US delegation will be formed by Trade Representative Katherine Tai and from Labor Secretary Martin Walsh. The relevance of security issues and the presence of a Ukrainian delegation could be the reason for the arrival of Avril Haines, head of national intelligenceAnd Christopher Wray, the head of the FBI. There will be a special envoy for the climate John Kerry.
Few “special addresses” (von der Leyen and the Spanish premier Pedro Sanchez Tuesday 17 January, the German Chancellor Olaf Scholz Wednesday 18) although some slots for leaders’ speeches are yet to be announced. Italy, after the resignation of Giancarlo Giorgetti (Economics) who had initially announced its participation, to date would be present with only one minister, Joseph Vallettara (Instruction). The French presence was more consistent with as many as six ministers including Le Maire (Economy), Boone (Europe) and the central bank governor Villeroy de Galhau. Germany will see in addition to the premier and his deputy Robert Habeckthe president of the Bundesbank Joachim Nagelthe Minister of Finance Christian Lindner and as many as eight other public figures. Expected a high-level presence of
Poles (with the President Andrzej Duda and the premier Mateusz Morawiecki), Latvians and Lithuanians.
Big multinationals have sent the leaders of giants like Chevron, Google, Amazon, Intel, Paypal, Amazon. Italy will be there with It is in the (Staracewho will speak at an energy panel on Thursday the 19th), Eni (balding) and regular appearances such as Andrea Illy, Merloni, Moretti Polegato (Geox), Nerio and Erica Alessandri (Technogym) and, among the banks, the president of Intesa Sanpaolo Carlo Messina and the CEO of Unicredit Andrea Orcel.
Big finance returns to Davos after at least two years in a minor key: nourished the presence of Blackrock with the president Larry Finkin addition to the leaders of Goldman Sachs with the CEO David Solomon, JP Morgan (with number one Jamie Dimon), Deutsche Bank, Morgan Stanley and other big names in investment banking.
On the political front, Russians and Iranians are also absent in this edition, with a limited presence of Saudis, including Turks Israel chooses the low profile (expected the governor of the central bank). The Qatar, instead, it will send two ministers alongside the deputy prime minister and foreign minister Mohammed Bin Abdulrahman Al Thani. The Brazil fresh from the assault on the institutions in the capital he will send Marina Silva, Minister of the Environment who promises to resume the fight against deforestation. Wait for it too Moldovan President Maia Sandu and the Georgian Prime Minister Irakli Garibashvili.