2024 World Financial Discussion board Davos Assembly to Give attention to “Restoring Belief” • Watts Up With That?

Essay by Eric Worrall

Would you ever trust a group with green champions like Al Gore and EU Central Bank President Christine Lagarde on its board of trustees?

World Economic Forum Annual Meeting

15–19 January 2024


People, societies and companies face the reality of a world in transformation. In addition to the seemingly endless supply of shocks, with the tragic violence in the Middle East being the most recent, deep structural shifts are clearly afoot from geoeconomics to climate change to artificial intelligence. Given this level of uncertainty and the high stakes involved, there is a clear need to move past the diagnosis of challenges firmly towards solutions.

With trust eroding, long-term visions may be too abstract to rally around, while merely focusing on responses to current shocks will leave everyone vulnerable to the transformations at hand. What is needed are new and upgraded platforms for dialogue, stronger partnerships, agile policy frameworks and effective deployment of technologies that can lead to practical and implementable gains for societies across both short-term and strategic horizons.

The theme

Against this backdrop and to instil a measure of collective agency, it is necessary to start restoring trust at three fundamental levels: into the future, within societies and among nations. Therefore, the 54th Annual Meeting of the World Economic Forum will convene under the theme Rebuilding Trust to provide the crucial space to step back and focus on the fundamental principles driving trust, including transparency, consistency and accountability.

Read more: https://www.weforum.org/events/world-economic-forum-annual-meeting-2024/about/

The WEF is of course are the architect of their own PR disaster.

Who can forget World Economic Forum gems like “You’ll own nothing and be happy”, WEF promotion of Greta Thunberg, back when she was politically useful, and of course the many PR blunders of members of their board of trustees like Al Gore and Lagarde?

The WEF Great Reset agenda also stokes distrust. From the World Economic Forum;

The Great Reset agenda would have three main components. The first would steer the market toward fairer outcomes. To this end, governments should improve coordination (for example, in tax, regulatory, and fiscal policy), upgrade trade arrangements, and create the conditions for a “stakeholder economy.” At a time of diminishing tax bases and soaring public debt, governments have a powerful incentive to pursue such action.

Moreover, governments should implement long-overdue reforms that promote more equitable outcomes. Depending on the country, these may include changes to wealth taxes, the withdrawal of fossil-fuel subsidies, and new rules governing intellectual property, trade, and competition.

The second component of a Great Reset agenda would ensure that investments advance shared goals, such as equality and sustainability. Here, the large-scale spending programs that many governments are implementing represent a major opportunity for progress. The European Commission, for one, has unveiled plans for a €750 billion ($826 billion) recovery fund. The US, China, and Japan also have ambitious economic-stimulus plans.

Rather than using these funds, as well as investments from private entities and pension funds, to fill cracks in the old system, we should use them to create a new one that is more resilient, equitable, and sustainable in the long run. This means, for example, building “green” urban infrastructure and creating incentives for industries to improve their track record on environmental, social, and governance (ESG) metrics.

The third and final priority of a Great Reset agenda is to harness the innovations of the Fourth Industrial Revolution to support the public good, especially by addressing health and social challenges. During the COVID-19 crisis, companies, universities, and others have joined forces to develop diagnostics, therapeutics, and possible vaccines; establish testing centers; create mechanisms for tracing infections; and deliver telemedicine. Imagine what could be possible if similar concerted efforts were made in every sector.

Read more: https://www.weforum.org/agenda/2020/06/now-is-the-time-for-a-great-reset/

A global tax cartel, coordinating spending on the green agenda, and taking inspiration from the Covid-19 response, presumably including Covid-19 era threats to the livelihoods of anyone who didn’t comply with government diktats, and brutal treatment of those who outright refused to comply.

I think we’ve all already had enough of that kind of totalitarianism for this century.

WEF, thanks for your offer to rebuild trust, but no thanks. I’d rather you keep losing.

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