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World leaders, business elites to discuss globalization 4.0 in Davos

Xinhua | Updated: 2019-01-23 07:20
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Ueli Maurer (1st L), president of the Swiss Confederation, speaks at the first plenary session of the 49th Annual Meeting of the World Economic Forum (WEF) in Davos, Switzerland, Jan 22, 2019. The 49th WEF Annual Meeting will be held on Jan 22-25 this year in Davos. [Photo/Xinhua]

This year's event came as risks hang over global growth, with rising nationalism, and protectionism, and political uncertainties in rich countries. US President Donald Trump, British Prime Minister Theresa May and French President Emmanuel Macron are absent from the forum due to their domestic difficulties.

In a report released before the annual meeting, the WEF said that rising geopolitical and geo-economic tensions are the most urgent risk in 2019, with experts predicting further economic confrontation between major powers in 2019 and erosion of multilateral trading rules and agreements.

Reflecting on the troubling status quo of globalization, China's stance on globalization will be worth attention, analysts said.

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