Experts and Professionals from the political and financial world descended on Davos for talks on the global economic condition. Concerns spanned the length and breadth of society, from the environment to the rising application of cryptocurrencies. Alongside discussions on the health of the stock markets, political representatives lined up to dazzle business with their nations developments.
This investment contest was a two-nation battle between China and the US, and only one can walk away victorious. From the environment to mental health to autonomous cars, the WEF provided a forum for pressing matters this month.
WEF highlights this month
‘America First Doesn’t mean America Alone’ – Trump Reassures Delegates
In his campaign trail, Donald Trump denounced the international system as singing the ‘False song of Globalism‘. But in Davos this week, he sought to reassure potential investors that American policy is business friendly, and remains the crucial global player.
Trump’s ‘America First’ policy, while implied that it doesn’t mean ‘America Alone’, the president’s policies speak volumes. The push-back against NAFTA, the TPP and the attempt to impose a protectionist stance on trade demonstrate America is first for trade.
President Trump’s resistance to international trade agreements has pivoted at Davos, as he expressed a willingness to enter TPP. Whether these are words of reassurance or a promise to investors remains to be seen, however.
While America’s First, but China steals the show
Attention shifted from America’s critical optimism towards international trade agreements to China rapidly. The New York Times believes that far from an American Headline, focus has moved east to Beijing as China brings in a massive congregation. To a crowded room, Xi Jinping’s economic advisor, Liu He was part of a wide-sweeping policy of economic partnerships with countries worldwide.
The ‘One Belt, One Road’ initiative has found a highly receptive audience at Davos. With talks undertaken between China, Brazil and Pakistan separately to drive home this revolutionary trade relationship. Joe Kaeser, Chief executive of Siemens, observed the innovative nature of this new international trade system.
“The China One Belt, One Road is going to be the new W.T.O. — like it or not.”