From a focus on mental health to the participation of more women, Davos is set for a makeover this year. Here’s what else is happening around the world.
Davos rings in the changes, gets millennials on board
The World Economic Forum’s 2019 Annual Meeting, starting at the popular Swiss ski resort town of Davos on 22 January, will see almost 3,000 participants from the fields of business, government, civil society, arts, culture and the media engage in yet another collective brainstorm on some of the most pressing global issues. This stands out compared to earlier annual meetings.
Over four days, some of the issues that the WEF will bring up in front of the world’s influencers are China’s economic slowdown amid a trade war with the US, climate change, Brexit and rising populism with the advent of leaders such as Brazil’s Jair Bolsonaro and even US President Donald Trump.
According to reports, the organisation has kept mental health as a major theme for this year. Besides, more women are expected to take part compared to last year’s meeting. The global movement #MeToo will also be a key point of discussion. A couple of sessions have been reserved to address challenges for women in the marketplace.
A Bloomberg report said despite the “economic and political tumult” of the past decade, including the likes of the 2008 global financial crisis, Brexit and Trump’s presidency, the fortunes of a dozen Davos attendees from 2009 have grown by a combined $175 billion, while median US household wealth has declined.
Another Bloomberg report said even though the Davos meeting will feature the usual “marquee-name panellists”, the WEF also intends to look for some disruption. An example of this is that the organisation has roped in six millennials as co-chairs who will join Microsoft CEO Satya Nadella in giving direction to the discussion.
Another incident that has grabbed the headlines in the run-up to the meeting has been the rampant use of limousines by attendees, even as the town’s residents including government officials travel by public transport. The swarms of black limousines on the streets of Davos seem to have vexed the town’s 11,000 residents.
Further reading:
- CNBC report: Trump is going to dominate Davos – even though he won’t be there
- WEF report: Meet the young world-changers coming to Davos 2019
- Time report: The Quick Read on Davos 2019, aka the World’s Most Important Watering Hole
Why is China slowing down and how will it impact the world?
A report published Monday reported that China’s last quarterly growth was a mere 6.6 per cent, its lowest growth rate since 1990. The International Monetary Fund (IMF) has issued a warning, stating that the Chinese economy is on an “unsustainable path” due to its high level of financial and corporate debt. It added that financial problems and international sanctions have worsened the problem, and could end up having “very serious repercussions”.
The slump in China has resulted in assembly plants and chemical factories either being shut down, or their pace of growth slowing. Sales of commodities such as cars and cell phones have seen a significant decline and the real estate market is stagnating as well.
The ongoing trade war between the US and China and the uncertainty over Brexit has added to the financial stagnation in China, the IMF has said.
China is the world’s second largest importer. It imports commodities from iron ore to food, energy and factory equipment. All Asian economies use Chinese imports to help run their domestic economies.
The effect will spill over if China decides to take on more debt and spend more on its internal growth, the IMF has said.
China’s slowdown will also affect the world economy as the country accounts for a third of world growth. Being one of the largest economies in the world, China is also a manufacturer and exporter. According to the China Biege Book, “manufacturing has sunk from buoy to anchor over the past two quarters”.
Further reading:
- Bloomberg explainer video: 1Q OF 2019 will still be weak for China, says Morgan Stanley’s Xing
- World Bank report: Darkening Prospects: Global Economy to Slow to 2.9 percent in 2019 as Trade, Investment Weaken
What do fans want from the final season of Game of Thrones?
The new Game of Thrones Season 8 teaser-trailer, released on 15 January, has had Reddit and Twitter buzzing, micro-analysing and guessing every single scene and the props used.
The trailer has the remaining Stark children Jon Snow, Arya Stark and Sansa Stark facing their own statues in the Winterfell crypt. While the central question of the series remains the same — “Who will become the Iron King?” —the new question that everyone is asking is, “where is Bran Stark?”
OKAY SO. I have been slowly allowing the Bran = Night King theory seep into my brain as time passes. And this trailer…
There's one living Stark who's not apparently "invited" into the Winterfell Crypt. But then, it seems that maybe he shows up, but he brings cold with him. https://t.co/pWY8naQUsL
— reverend mother alias julia (@qqueenofswords) January 14, 2019
https://twitter.com/PulgarUp/status/1084828926076174336
The youngest of the surviving Stark children is a gifted seer and theories abound that he is the king of the White Walkers — the bad guys on the north of their kingdom Winterfell.
The secret of the crypt is yet to be unveiled, but the feather in Sansa’s hand and the secret behind the statues of the Stark children has definitely gripped fan groups.
The Game of Thrones is a fantasy drama television series based on George R.R. Martin’s book series titled A Song of Ice and Fire. The series, which began in 2011, has gained a huge fan following on the basis of the seven seasons that have been aired so far.
Watch a scene-by-scene breakdown of the teaser here with Dan Selcke.