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What we can expect from the upcoming WEF

Djoomart Otorbaev

 , Updated 17:25, 20-Jan-2025
A sign for the World Economic Forum seen in a TV studio prior to a press conference to present the upcoming WEF annual meeting held in Davos, Switzerland, January 14, 2025. /CFP
A sign for the World Economic Forum seen in a TV studio prior to a press conference to present the upcoming WEF annual meeting held in Davos, Switzerland, January 14, 2025. /CFP

A sign for the World Economic Forum seen in a TV studio prior to a press conference to present the upcoming WEF annual meeting held in Davos, Switzerland, January 14, 2025. /CFP

Editor's note: Djoomart Otorbaev, a special commentator on current affairs for CGTN, is a former prime minister of the Kyrgyz Republic, a professor of the Belt and Road School of Beijing Normal University, a member of the Nizami Ganjavi International Center, and the author of the book "Central Asia's Economic Rebirth in the Shadow of the New Great Game" (Routledge, 2023). The article reflects the author's views and not necessarily those of CGTN.

This year's World Economic Forum (WEF) annual meeting, which is scheduled to be held from January 20 to 24 in Davos, Switzerland, is expected to bring together close to 3,000 leaders from politics, academia and business, including 60 heads of state and government.

Throughout the WEF's history, the gathering has sparked numerous bilateral and multilateral discussions for exploring and addressing global and local issues that are all critically important to the global community.

To name just two examples: In 1992, Nelson Mandela and F.W. de Klerk met outside South Africa for the first time at Davos. Their handshake symbolized a turning point in the global fight against apartheid.

In 1998, during the ongoing financial crisis, the idea of creating a regular dialogue platform between developed and developing nations emerged in Davos. Attendees of that forum agreed to establish a platform for economic cooperation between 10 developed countries and 10 developing countries, ultimately laying the groundwork for the Group of 20.

The increasing gap between aspirations and anxieties was evident last year, and the agenda for Davos 2025 is anticipated to be even more critical. Geopolitical and economic uncertainty, trade tensions, cultural polarization and climate challenges are becoming increasingly complex and interconnected. Meanwhile, new technological breakthroughs in quantum computing, biotechnology and artificial intelligence are creating unique opportunities for humanity to improve productivity, and raise people's living standards while reducing poverty and inequality.

Davos 2025 will center on "Collaborating for the Intelligent Age." The theme highlights how converging technologies are rapidly transforming our world with potential to both uplift and divide humanity. Under the overarching theme, the forum will be oriented around five priorities: "Rethinking Growth," "Industries in the Intelligent Age," "Investing in People," "Safeguarding the Planet" and "Rebuilding Trust."

Snow blankets the town of Davos prior the 55th annual meeting of the World Economic Forum in Switzerland, January 3, 2025. /CFP
Snow blankets the town of Davos prior the 55th annual meeting of the World Economic Forum in Switzerland, January 3, 2025. /CFP

Snow blankets the town of Davos prior the 55th annual meeting of the World Economic Forum in Switzerland, January 3, 2025. /CFP

Leaders face several challenges when addressing collaboration in an era of technology convergence and hyperintelligence. How can we prevent fragmentation and create a better future for all? What role can innovation play in tackling crises like climate change and the misuse of technology? Will dialogue, collective action and responsible leadership foster equality, sustainability and cooperation rather than worsen existing divisions? These questions among others are left unanswered.

According to the WEF's Global Risks Report 2025 released on January 15, the top three risks of the year are state-led armed conflict, extreme weather events and geoeconomic confrontation. The report captures insights from over 900 experts, policymakers and industry leaders who assessed their perceptions of global risks in the short, medium and long term. It found that 23 percent of respondents believe state-based armed conflict is most likely to trigger a significant global crisis in 2025.

"Rising geopolitical tensions and a fracturing of trust are driving the global risk landscape," stated Mirek Dusek, managing director of the WEF, in an online briefing on the report. "In this complex and dynamic context, leaders have a choice: to find ways to foster collaboration and resilience, or face compounding vulnerabilities."

Geoeconomic confrontation is also considered an imminent risk, particularly with the new U.S. administration pledging higher import tariffs. The report notes: "Fear and uncertainty cloud the outlook in various parts of the world, including Ukraine, the Middle East and Sudan, with multilateral institutions struggling to provide effective mediation and work towards resolutions."

Environmental risks are a major concern for the long-term outlook. The report revealed that experts have been primarily worried about ecological threats for the past decade. The top long-term global risk identified was extreme weather, followed by biodiversity loss and ecosystem collapse, critical changes to Earth systems and natural resource shortages. The year 2024 is confirmed to have been the first calendar year that the average global temperatures exceeded 1.5 degrees Celsius above pre-industrial levels, indicating that the world may not meet the commitments set by governments in the Paris Agreement.

The report defines global risk as a situation that could hurt a significant portion of the world's GDP, population and natural resources. Furthermore, most respondents – 64 percent – anticipate that the current multipolar and fragmented world order will continue.

As we approach the 55th WEF, hopes for a more just world remain high. Against the backdrop of deglobalization and fragmentation, humanity's existence and development is being threatened by global armed conflicts and uncontrolled climate change. Therefore, now more than ever, it is essential for everyone to engage in open and honest dialogue. Davos 2025 could be a place where we witness difficult yet necessary decision-making.

(If you want to contribute and have specific expertise, please contact us at opinions@cgtn.com. Follow @thouse_opinions on Twitter to discover the latest commentaries in the CGTN Opinion Section.)

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