World Economic Forum Annual Meeting 2025 in Davos
The World Economic Forum (WEF) will hold its Annual Meeting from January 20 to 24 in Davos, Switzerland, attended by significant leaders including European Commission President Ursula von der Leyen and China's Vice Premier Ding Xuexiang. India will be represented by Union Minister, with the participation of Maharashtra, Telangana, and Andhra Pradesh Chief Ministers.
Purpose of the Global Meeting
The meeting will focus on inclusive growth, investments in social, physical, and digital infrastructure, and democratizing technology. The aim is to bring together business, government, and civil society leaders to brainstorm solutions for major global issues.
History of the World Economic Forum
- Founder: German Professor Klaus Schwab in 1971, originally as the European Management Forum.
- Concept: Introduced "stakeholder capitalism," where companies aim for long-term value creation for all stakeholders, not just shareholders.
Activities at WEF
- Initial focus was on European firms adopting US management practices.
- Expanded to economic and social issues post-1973 events, including the collapse of Bretton Woods and Arab-Israeli War.
- Membership system for leading companies introduced in 1975.
- First non-governmental partnership with China's economic commissions in 1979.
- Annual gatherings of about 3,000 participants, addressing global issues through 500 sessions.
Funding and Location
- Funding: Primarily from partnering corporations with turnovers over $5 billion.
- Davos Significance: Known for serene environment conducive to cutting through political distractions.
Historical Diplomacy and Achievements
- Platform for pivotal diplomatic meetings, e.g., North and South Korea's first ministerial-level meetings.
- 1992: South African leaders Mandela, de Klerk, and Buthelezi's first joint appearance outside South Africa.
- 1998: Conceptualization of G20 meetings, later evolving to finance ministers and then summits.
- WEF regularly publishes reports like the Global Competitiveness Report and Global Gender Gap Report.
