World Economic Forum 2019: WEF president expresses concern over geopolitical conflicts
Davos, Jan 21: The World Economic Forum (WEF) 2019 was set to begin in Davos, Switzerland, on Monday, January 21, and heads of state of more than 65 countries were to attend the event that will continue till January 25. US President Donald Trump and his French counterpart Emmanuel Macron will not be present at the event this year because of domestic reasons.
On the eve of the meeting, WEF President Borge Brende expressed his apprehension while speaking to CNBC over the impact that geopolitical clashes, if not handled properly, could have on global growth.
"There are many things that concern me but I would say that those geopolitical conflicts can, if not handled the right way, can have a negative impact on growth," he told CNBC on Sunday, January 20.
"We're already seeing a slowing of global growth with the negative impact that will have on a lot of people around the world, also when it comes to creating jobs. We're not out of the woods when it comes to jobs, for example in Europe many countries are still facing 20 percent youth unemployment," he said.
The latest WEF is taking place when the world is faced with uncertainty in global trade and tensions in diplomatic circles. In the last one year since the WEF 2018, the US and China have found themselves engaged in a serious trade war while the US is currently seeing a government shutdown over building of a wall along Mexico border. The Brexit is in a complete mess with the UK prime minister's plan meeting a massive defeat in parliament.