The 46th World Economic Forum kicked off in sub zero temperatures outdoors and equally freezing atmosphere indoors among the delegates as they woke up to news of more turmoil in the stock markets, which set the agenda for quite a pessimistic day all round. On that same note, China managed to infiltrate almost every discussion and opinions were divided as to what extent a stalled economy in the Middle Kingdom would contaminate the rest of the world.
On the optimistic side and in response to the holders of the view that the overreacting markets would ask for subtle policy changes to stabilize, Stephen A Schwarzman, CEO of Blackstone, supported the idea that China with its huge population will continue to both produce and consume, which implies that supply and demand will be maintained and the markets will again reach equilibrium.
Away from the stock markets and onto the environment, I was interested to hear the views of UN Executive Secretary Christiana Figueres, one month after COP 21 in Paris that Horyou covered. Unsurprisingly, Christina stated that getting everyone to agree was the easy part but that what the world is in need for clear goals and even clearer strategy on how to reach them.
Alluding to the importance of citizen participation and ‘solidarity’, one of Horyou’s key values, she said that ‘everyone on the planet needs to rethink how they live their lives; and that goes for big business as well as individual consumers’.
On the subject of geopolitics, it struck me that the entire concept of Davos could well be challenged this year. Rumors of excessive parties and elitism notwithstanding, it has always been a platform where the powerful can gather calmly and on common ground to make decisions. However, this year things look different as the world had never been more split over our priorities and our problems, as well as who or what to blame and, most importantly, the proposed solutions.
There are so many powers coming to Davos with different ideologies regarding the various geopolitical conflicts. When we are supposed to be at a new frontier of global growth and development, are we to see phantoms of times past reemerging? Alexander Stubbs, the Swedish Prime Minister spoke of global stability in the wake of critical shifts. However and thankfully, for all of the worry, there was a lot of reason to be hopeful and believe in Davos.
Musician Will I Am and Facebook’s COO Sheryl Sandberg both spoke sincerely on the opportunity that lies in connectivity. On a mission to utilise technology for another ‘education’, yet another Horyou key value,Will I Am believes that a bright future lies in giving kids the opportunity to explore the STEM subjects and in using technology as an aid to learning. Sandberg, meanwhile, passionately alluded to experiences of people in developing countries whose lives were transformed when they were given access to the Internet and how this gave them a stake in society they never even dreamed to have.
There was also a lot of positive vibes from this year’s upbeat Young Global Leaders who were driving conversations on renewable energies, sustainability and the future of science. And a key point I took away from their discussions is that good people doing good need to know each other; they need to connect and work together to make an even bigger impact on society.
So, the night falls leaving in the air a mixture of caution, uncertainty, hope and fear; opinions are divided but the good news is they are voiced. We definitely leave curious.
We look forward to seeing how the rest of the week will unfold.