In December, new orders for major American capital goods suddenly slumped in the face of decreasing demand for machinery as well as primary metals, indicating a sustained deceleration in business spending on equipment, which could further impact economic…
The World Economic Forum 2018: waiting for Trump
The World Economic Forum (WEF) was founded by the professor of the Geneva University Klaus Schwab in 1971. But initially, he founded the European Management Forum. It focused on how European firms could overtake with US management practices.
Political leaders came to Davos for the first time in January 1974. In two years, the Forum started transforming and introduced a system of membership for the 1,000 leading companies of the world, the number of topics was developed as well, political and economic issues were included.
It was a first non-governmental organization that had a partnership with China’s economic development commissions.
In 1987 the European Management Forum became the World Economic Forum. In 2015 the Forum became recognized as an international organization.
Nowadays, it is a platform where businessmen, political leaders, journalists meet and discuss main world topics and events.
The WEF 23-26 January
The Forum is held in Davos every year. This year the Economic Forum will be held from 23 to 26 January.
The important event of this Forum is the special address by Donald J. Trump on January 26 at 13:00 GMT. An interesting fact is that Trump is the first President who goes to Davos in recent 18 years, before him it was Bill Clinton. Trump is going to announce political and economic priorities of the US. There is a possibility that he will focus on a tax reform that he signed in December 2017. This reform has already been called historical. The link to his speech is here
Besides Trump, there will be nearly 70 Heads of states and governments. Also, leaders of about 40 international organizations will come.
A lot of important topics concerning the policy, economy, and environment will be discussed this time. Considering economy and finance, such important issues as cryptocurrencies and blockchain, development of the digital economy, restrictive measures of trade and protectionism will be discussed.
Despite the fact that the Forum is held just for discussion and consultations, some addresses can emphasize vectors of future policy of different countries. Important claims can be made unexpectedly.
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On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
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