Davos Forum Opens on 21st... Trade War and Climate Change Expected to Be Discussed

[Image source=AP Yonhap News]

[Asia Economy International Department Reporter] On the 21st (local time), the World Economic Forum (WEF) annual meeting (Davos Forum) will open in Switzerland under the theme of 'Stakeholders for a Cohesive and Sustainable World.'

According to major foreign media such as AFP on the 18th (local time), this year's forum will be held until the 24th, with about 3,000 participants including 53 heads of state. In particular, U.S. President Donald Trump, who did not attend last year due to the federal government's 'shutdown' (temporary work stoppage), will attend this year leading a large number of aides.

This year, issues such as climate change and trade wars are being highlighted as key topics of discussion at the forum. Environmental activist Greta Thunberg will also attend, making it highly likely that she will engage in a 'verbal exchange' with President Trump, who has denied climate change. The two have often exchanged indirect verbal sparring over environmental issues through Twitter and media interviews. Thunberg will speak on the first day of the forum, the 21st, at sessions titled 'Building Sustainable Directions for a Shared Future' and 'Preventing Climate Catastrophe.'

With Treasury Secretary Steven Mnuchin, Commerce Secretary Wilbur Ross, and U.S. Trade Representative (USTR) Robert Lighthizer also attending Davos, the U.S.-China trade war is expected to be a major topic of discussion at this forum. Ahead of the presidential election, President Trump is likely to praise the Phase One trade agreement between the U.S. and China, finalized on the 15th, as an economic 'achievement' at this forum. Carlos Pascual, Vice President of information provider IHS Markit, predicted that President Trump will deliver messages to Americans rather than the international community at the Davos Forum.

Meanwhile, from Korea, Park Young-sun, Minister of SMEs and Startups, and Yoo Myung-hee, Chief Negotiator for Trade, will attend the forum. From the business sector, Chung Eui-sun, Executive Vice Chairman of Hyundai Motor Group; Chey Tae-won, Chairman of SK Group; Hur Se-hong, President of GS Caltex; Hwang Chang-gyu, Chairman of KT; Kim Dong-kwan, Vice President of Hanwha Solutions; and Kim Dong-won, Managing Director of Hanwha Life, are expected to participate.