What is Davos 2018? 10 things you should know about the history behind the World Economic Forum

THE planet’s most powerful people have descended on the small Alpine town of Davos in Switzerland for the annual World Economic Forum (WEF).

Let’s take a look at the event, held this week from January 23 until 26, where business leaders mingle with politicians to discuss a range of topics such as the global economy and the environment.

Ten things you need to know about the World Economic Forum in Davos

1971: German-born Klaus Schwab, professor of business at the University of Geneva, arranged the first meeting between business leaders to discuss global management practices.

Initially named the European Management Forum was initially aimed at helping companies in Europe catch up with US management practices.

1973: For the first time, the event discussed global events such as the Arab-Israeli war and widened its focus to economic and social issues.

1974: Political leaders were invited for the first time.

1987: Professor Schwab changed the name of the event to the World Economic Forum.

1992: Newly-released freedom fighter Nelson Mandela shared a stage for the first time with South African President Frederik Willem de Klerk.

2002: The event was held in New York, instead of Davos, to show solidarity with the US following the September 11 terrorist attacks.

2003: Protests at the WEF by anti-globalisation groups – who believe globalisation and capitalism have increased worldwide poverty – started during the 1990s and culminated in full-scale riots in 2003.

Many of the protesters were blocked from entering the town of Davos by police resulting in riots in the city of Bern. While there are still a steady number of protests every year, the number has gradually decreased since 2003.

2011: The WEF began to address the lack of women represented at the annual forum and introduced a quota of at least one female for every five senior executives who attended.

The number of female attendees at the event has increased from nine per cent in 2001 to 21 per cent in 2017.

2014: CNN reported that businesses have to pay around $40,000 to send a single delegate to the event.

2018: US President Trump is set to deliver a speech on the last day of the event.

The billionaire is to be among 70 heads of state or government who are expected to be on hand, along with hundreds of business executives, academics, government officials, and artists.

Is Donald Trump attending the 2018 World Economic Forum?

US President Trump is attending the event on January 25 and 26, and is set to deliver a speech on the last day.

The billionaire is to be among 70 heads of state or government who are expected to be on hand, along with hundreds of business executives, academics, government officials, and artists.

Other leaders attending are UK Prime Minister Theresa May, French President Emmanuel Macron and Canadian Prime Minister Justin Trudeau.

A recent survey by the World Economic Forum appeared to criticise Trump and his ferocious brand of “strongman” politics.

The report said that more than nine in 10 experts are worried about worsening economic or political confrontation between world powers, amid a trend toward “charismatic strongman politics.”

WEF said four in five survey respondents expect rising risks “associated with war involving major powers.”

The report said geopolitical risks have been exacerbated by falling commitment to “rules-based multilateralism.”

It noted how President Trump “delivered on some of his unilateralist campaign pledges” by pulling the US out of the Paris climate accord and a trans-Pacific trade pact.

It also said “identity politics” could fan geopolitical and domestic risks.

“Charismatic strongman politics is on the rise across the world,” said the report.

“In addition to the ‘America First’ platform of President Trump, variations on this theme can be seen in numerous countries from China to Japan, Russia, Turkey, Saudi Arabia, the Philippines and elsewhere.”

The report also said last year’s clash of “strong-state instincts” of Trump and North Korean leader Kim Jong-un “has created uncertainty about the strength of the norms created by decades of work to prevent nuclear conflict.”

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