The Viyug

India's Premier Foreign Affairs Magazine

World Economic Forum’s Role in Addressing Conflict in the Middle East

The 54th annual World Economic Forum (WEF) in Davos, Switzerland centred around “Rebuilding Trust,” addressing global challenges and geopolitical tensions. Notable attendees included leaders from China, France, UK, and the US. WEF emphasised the need for international collaboration and identified critical themes including economic resilience, energy transformation, and AI productivity. Trust-building measures were also discussed,…

The Viyug

12 Feb 2024

6 minutes

africa, Balkans, Capitalism, china, Geopolitics, Global Foresight, Middle East, Ukraine, united states, WEF, World Economic Forum

By Mareike Warmboldt

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The 54^th annual World Economic Forum (WEF) kicked off in Davos, Switzerland, with the overarching theme of “Rebuilding Trust.” Bringing together more than 2,800 participants from 120 countries across business, politics, academia, and civil society, the forum aimed to address pressing global challenges amidst geopolitical tensions and rapid technological advancements. Emphasising the necessity of international collaboration, WEF identified six critical themes: economic resilience, energy transformation, globalisation, productive artificial intelligence, strengthening institutions, and women’s health.

Notable attendees included prominent figures such as China’s Vice Premier Li Qiang, French President Emmanuel Macron, UK Chancellor Jeremy Hunt, US Secretary of State Antony Blinken, as well as leaders from international bodies and civil society groups. High-level diplomatic discussions on ending conflicts in Gaza and Ukraine were slated to top the agenda, with WEF President Borge Brende emphasising the importance of addressing crises in the Middle East, Ukraine, and Africa.

Against a backdrop of complex geopolitical dynamics, global economic challenges, and rising debt levels, the forum aimed to confront heightened division and hostility worldwide. Amidst unprecedented pessimism fuelled by amplified challenges and setbacks, a pressing need emerged for comprehensive crisis management strategies. Despite past achievements in poverty reduction and living standards improvement, concerns about losing control over the future have driven people towards extreme ideologies.

Rebuilding trust in the future demands a holistic approach to tackle interconnected issues such as unsustainable debt, inflation, and climate change. Open and transparent dialogue was identified as a crucial tool to restore mutual trust, mitigate crisis-driven dynamics, and foster cooperation towards a shared vision for a brighter future.

Initiatives such as the Global Cooperation Barometer, Western Balkans Diplomacy Dialogue, and Humanitarian and Resilience Investing underscored the commitment to collaborative action. Recognising the need for enhanced anticipation and foresight capabilities, the WEF created a new initiative, the Global Foresight Network bolstering individual organisations’ future preparedness and society’s collective capacity to tackle transformational challenges.

Moreover, the formation of the Global Future Council on the Future of Geopolitics highlights the imperative of strengthening global cooperation amidst mounting conflict and competition. From managing distrust in global security to reframing investments in renewables for climate change mitigation and regulating frontier technologies, collaboration emerges as the cornerstone for addressing complex global issues and rebuilding trust among nations.