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Seven Days: 26 January 2018

Seven Days: 26 January 2018

Davos dichotomy

The Davos meeting of the great and the good of the global political and financial worlds kicked off this week with a huge dump of snow greeting world leaders as they arrived in the Swiss mountains. The meeting occurred amid conflicting narratives. The Davos organiser, the World Economic Forum, warned that a fixation with GDP growth among global leaders was harming attempts to address inequality within the global economy. This was backed by Oxfam reporting that just 42 of the wealthiest people in the world hold as much wealth as 3.7bn people, or half the global population. At the same time, global leaders were expressing their delight at the International Monetary Fund upgrading global GDP growth forecasts for this year to 3.9 per cent on the back of the “broadest synchronised global growth upswing since 2010”.

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