SAWT BEIRUT INTERNATIONAL

| 29 May 2024, Wednesday |

Globalization’s cheerleaders grasp for new buzzwords at Davos

World leaders, financiers, and CEOs said they were leaving this week’s World Economic Forum with a strong desire to reboot and redefine “globalization.”

The framework of free markets that has molded the previous three decades of business and geopolitics appears to be shaky as trade disputes fuel economic nationalism, a pandemic exposes the fragility of global supply networks, and a conflict in Europe might transform the geopolitical landscape.

Worry over symptoms of a breakdown was obvious at this week’s revival of the World Economic Forum, an annual gathering of the world’s well-heeled, the majority of whom have championed globalization.

International Monetary Fund Managing Director Kristalina Georgieva summed up the mood of the event.

    Source:
  • Reuters