In a special address at the World Economic Forum Annual Meeting, Theresa May, Prime Minister of the United Kingdom, said that Britain would stand up for free markets, free trade and globalization, and would work to ensure that they work for everyone.
Business leaders at the World Economic Forum Annual Meeting agreed that there is an urgent need to restore the compact between business and society, ensuring that companies are responsive and responsible to all their stakeholders. There is a crisis of confidence in leadership, said Jim Hagemann Snabe, Member of the Board of Trustees, World Economic Forum. “We have an opportunity to reinvent how we do business, to refocus our efforts towards ensuring long-term sustainability,” he added.
With its vast workforce, strong growth and expanding purchasing power, South Asia will be the key to reviving global demand, Nirmala Sitharaman, Minister of State for Commerce and Industry of India, said at a session on Harnessing Regional Cooperation in South Asia at the World Economic Forum Annual Meeting. “The world cannot afford to ignore the region that will be key to reviving demand,” the minister said.
The energy gap in Africa looms large if the continent is to permanently escape the poverty trap. More than 600 million people in Africa lack access to clean, affordable, reliable energy. It is time for empower people by delivering power to the people.
Chinese President Xi Jinping delivered a robust defence of globalization to business, government and civil society leaders in the opening plenary session of the 47th World Economic Forum Annual Meeting. China, Xi said, is committed to fulfilling its international responsibilities and contributing to addressing pressing global challenges, including climate change, the need for new drivers of economic growth and creating jobs in the face of the emerging technologies of the Fourth Industrial Revolution.
Gigantic corporations lead in business today: fewer than 10% of public companies worldwide account for 80% of all corporate profits. But the giants of world business are challenged to manage their enormous scale, create new products and contribute to society, agreed leaders of global manufacturers, technology companies and banks in a session on the opening day of the World Economic Forum Annual Meeting.
In the closing session of the World Economic Forum’s inaugural Annual Meeting of the Global Future Councils, business and civil society leaders called for the embedding of values in the design of technologies and investment in education to prepare citizens for the future by ensuring they have the skills to succeed in the Fourth Industrial Revolution.
Leaders are losing people’s confidence because they are lacking in values and motivated by personal goals and not by the common good, said business, government and civil society experts in a session on leadership at the World Economic Forum’s inaugural Annual Meeting of the Global Future Councils.
The World Economic Forum, in partnership with Canada’s International Development Research Centre (IDRC) and the World Bank, is launching a competition to crowdsource sustainable and scalable solutions to the inclusive growth challenge.
The world is facing an acute misuse of talent by not acting faster to tackle gender inequality, which could put economic growth at risk and deprive economies of the opportunity to develop, according to the World Economic Forum’s Global Gender Gap Report 2016, which is published today.