As global leaders come together to fight the economic slowdown led by the COVID pandemic at the WEF Annual Meet 2021 in Davos (Switzerland), the emphasis is going to be on fixing the world economy. Starting January 25th, 2021, it will continue for five days until 29th. Last year saw climate change being discussed at length, while this year’s agenda is overcoming COVID adversities. The event has been named as ‘The Great Reset’ because of the primary focus on resetting the world economy back to the ‘normal’.
World leaders in varied industry segments, from 400 different cities, are joining the global collaborative meet, both in-person & online. ‘Sustainable development’ and ‘controlling carbon emissions’ will certainly be the topics of discussion at this year’s meet too, similar to the last year.
The role of IMF (International Monetary Fund) is going to be vital this year as the global economies have been desperately seeking COVID stimulus packages for quite some time now. Transitioning seamlessly into the Fourth Industrial Revolution by upskilling the industry workforce is expected to be discussed. Food security would be another topic of concern at the Davos meet as WEF has already expressed its worries on the same off late. The exact concerns were the “risk of disruptions to food supply chains”, and an urgent necessity for “global policy coordination”.
The Primary Objectives of WEF Annual Meet 2021
The topics that are going to be discussed will mostly pertain to reviving back from the COVID crisis. The global summit will cater to resetting and reshaping of the world in a manner that aligns with the United Nations 2030 Sustainable Development Goals. Because, during the pandemic, things like poverty, inequality, and climate change took an unprecedented hit, the urgency to resetting labor markets and expediting the process of making workplaces ready for the ‘future of work’ has become even more critical.
Kristalina Georgieva, Managing Director of the IMF (International Monetary Fund), in her June 3rd 2020 keynote address, while opening the Great Reset forum, stated that a huge monetary assistance has been released in the form of a COVID stimulus package to help countries across the world deal and recover from the corona-led economic crisis. She added – “With injection of such a large fiscal stimulus, we hope that the resulting growth would lead into a smarter, fairer, and greener world in the times to come”.
The governments across the world would possibly be advised to invest in the only form of development or growth that results in low-carbon footprints. Use of renewable resources for energy generation will potentially be discussed and promoted among the world leaders. The other critical topic possibly to register its presence at the meet would be – collaboration between the public & private sector to fight the COVID-led economic slowdown.
One thing is for sure – global leaders across business domains would keep a close watch on the happenings at the Davos.