The World Economic Forum concludes Friday with a speech by US President Donald Trump, and the unpredictable leader has promised “to tell the world how great America is and is doing.”
While Trump will gain all of the headlines, day five will also see Hong Kong Chief Executive Carrie Lam take part in talks alongside Christine Lagarde, while a Chinese transgender icon and TV personality will also be giving her vision on a shared future.
Read on for more about the fifth and final day of Davos 2018.
Donald Trump to divide Davos?
Who? Donald Trump, President of the United States since January 2017.
US President Donald Trump speaks during a bilateral meeting with Israel's prime minister on the sidelines of the World Economic Forum (WEF), January 25, 2018. /VCG Photo
US President Donald Trump speaks during a bilateral meeting with Israel's prime minister on the sidelines of the World Economic Forum (WEF), January 25, 2018. /VCG Photo
The US economic outlook: The IMF recently upgraded its 2018 growth forecast for the US from 2.3 to 2.7 percent, with the 1.5 trillion US dollar tax reform bill expected to boost business in the near future.
Wall Street stocks hitting record highs and unemployment at 4.1 percent are all victories being claimed by Trump on the march to "making America great again," but the tax reform has come under harsh criticism for increasing inequality and not having long-term US interests at heart.
What to expect: More than a year into his presidency, Trump-watchers know by now that it is difficult to anticipate what the US leader will say at Davos.
Surrounded by the world’s business elite, Trump may feel in his element as he claims victory on tax reform and the economy, and is likely to insist the US remains open for business, as long as the rest of the world plays by its rules.
All eyes may be on Trump, but look out for how the Davos multi-millionaires react. The tax reforms are good news for anyone who does business in and with the US, and may be enough to force attendees at the WEF to overlook the numerous controversies that have surrounded Trump.
On Thursday, Trump held talks with UK Prime Minister Theresa May on the sidelines at Davos, saying that there would be a “tremendous increase” in UK-US trade after Brexit.
From Hong Kong to Davos
Who? Carrie Lam Cheng Yuet-ngor, chief executive of Hong Kong Special Administrative Region since July 2017.
Carrie Lam has vowed to boost innovation and education in the HKSAR. /VCG Photo
Carrie Lam has vowed to boost innovation and education in the HKSAR. /VCG Photo
HKSAR's economic outlook: Lam has vowed to invest in innovation and education, and provide more affordable housing in one of the world's priciest property markets.
2018 is set to see Hong Kong connected to the mainland’s high-speed rail network, and traffic begin to use the 55-kilometer Hong Kong-Macao-Zhuhai bridge, further integrating the Pearl River Delta region.
The Hong Kong stock market put in a strong performance in 2017, and Stock Connect programs linking the SAR to exchanges in Shenzhen and Shanghai are expected to see even more activities in the coming year.
What to expect: Lam is only the third HKSAR chief executive to attend the WEF, and this will mark her debut as leader at a major international event.
Lam will look to reassure international investors that Hong Kong remains one of Asia's best places to invest, despite the emergence of Shanghai and Shenzhen, and the SAR’s failure to attract IPOs from some of China’s biggest companies.
Hong Kong will play a major role in the Belt and Road Initiative, and Lam could use Davos to boost the region’s profile as a key entry point for countries and businesses looking to work with the initiative.
The chief executive is taking part in discussions on the global economic outlook alongside figures like IMF head Christine Lagarde and Bank of England chief Mark Carney, as well as a look at the Fourth Industrial Revolution in Asia.
Lam met Thomas Farley, president of the New York Stock Exchange on Wednesday, to discuss expanding cooperation between two of the world’s biggest financial centers.
China at Davos
Joining Carrie Lam in the discussion on the Fourth Industrial Revolution will be Xu Jinghong, chairman of Tsinghua Holdings and joint-chair of last year’s Summer Davos meeting in northeast China’s Dalian.
The roundtable meeting will look at how Asia can maintain its competitive edge beyond the low-cost labor and “factory Asia” models of previous decades.
Xu has previously spoken about how robotics will transform manufacturing and allow humans to focus on cultural industries, saying “the Fourth Industrial Revolution will eventually make people richer and when people become more affluent they have a greater need for culture and the arts.”
Jin Xing, formerly a famous dancer, is now one of China's most well-known TV hosts. /VCG Photo
Jin Xing, formerly a famous dancer, is now one of China's most well-known TV hosts. /VCG Photo
One of the most surprising Chinese attendees at Davos this year is Jin Xing, a famous TV host and former dancer who has been called “China’s Oprah” by western media. Known as a transgender icon, Jin Xing will take part in a discussion on how the world can build a shared future.
Anything else to look out for?
Coinciding with Trump’s appearance and news
that a deal could happen on immigration and the president’s controversial wall proposal, look out for “Bridges vs Borders: The Migration Dilemma,” a talk on the complex and controversial relationship between migration and economics.
Singer, TV star and entrepreneur will.i.am. /VCG Photo
Singer, TV star and entrepreneur will.i.am. /VCG Photo
Jin Xing (and Trump) are not the only reality TV stars and celebrities appearing on the final day of Davos – will.i.am, formerly of the Black Eyed Peas and host of The Voice, will discuss the state of startups alongside R. May Lee, dean of the School of Entrepreneurship and Management at ShanghaiTech University.
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