G7 Leaders Absent One After Another... Davos Forum Opens

[Asia Economy Reporter Yujin Cho] The World Economic Forum (WEF, Davos Forum) annual meeting, where global political leaders and senior economic figures gather, opened on the morning of the 16th (local time).

This year, the leaders of the two major powers (G2), the United States and China, are absent, and among the G7 leaders from the UK, France, Italy, and Japan, only German Chancellor Olaf Scholz is attending.

With many leaders who need to discuss global issues such as the Ukraine war, global security, inflation, low growth, and the climate change crisis absent, there are predictions that the event will be a half-hearted affair.

On the morning of the day, on-site registration for the 53rd Davos Forum participating organizations began at the large international conference center in the Swiss resort town of Davos.

Klaus Schwab, the economist and founder of the forum, will host a reception event in the international conference hall in the afternoon to welcome leaders from various countries.

The first forum schedule features an "Open Forum" event where academics and representatives of international civic organizations discuss climate crisis response measures under the theme "Harmony with Nature."

Alois Zwinggi, WEF Foundation Director, and Gail Whiteman, Professor at the University of Exeter in the UK, share opinions on how to change daily life and social organizations to cope with climate change.

The "Crystal Award 2023," which honors artists who have contributed to social development, is held as part of the opening ceremony. Awardees include American soprano Ren?e Fleming, who contributed to research on health recovery through music; Hollywood actors Idris and Sabrina Elba, who have worked with the International Fund for Agricultural Development (IFAD) to support rural poor communities; and architect Maya Lin, known for sustainable architectural design.

This year at the Davos Forum, over 2,700 political and economic leaders worldwide seek solutions to global issues under the theme "Cooperation in a Divided World."

Amid health, security, and economic crises deepened by the COVID-19 pandemic and the Ukraine war, rising nationalism, and the limitations of international organizations' conflict mediation abilities, the forum aims to restore global cooperation, which is at risk of disappearing.

During the four nights and five days until the 20th, 52 heads of state, including President Yoon Suk-yeol, German Chancellor Olaf Scholz, and European Union (EU) Commission President Ursula von der Leyen, will visit Davos.

G2 leaders such as US President Joe Biden and Chinese President Xi Jinping will not attend this forum. Bloomberg reported that President Biden canceled his attendance at the Davos Forum and sent a government delegation consisting of Labor Secretary Marty Walsh and US Trade Representative (USTR) Katherine Tai.

United Nations Secretary-General Ant?nio Guterres and 39 representatives from international organizations such as the International Monetary Fund (IMF) and the North Atlantic Treaty Organization (NATO) will also participate.

Additionally, about 600 CEOs of global companies, 19 central bank governors, 56 finance ministers, 35 foreign ministers, and 35 trade ministers are included in the list of attendees.

Major group leaders representing South Korea’s business community, such as Samsung Electronics Chairman Lee Jae-yong, SK Group Chairman Chey Tae-won, Hyundai Motor Group Chairman Chung Eui-sun, LG Group Chairman Koo Kwang-mo, Lotte Group Chairman Shin Dong-bin, and Hanwha Solutions Vice Chairman Kim Dong-kwan, are also expected to attend.