DAVOS, Switzerland (AP) 鈥� Corporate chiefs and government leaders including U.S. President Donald Trump swarm into Davos, Switzerland, this week, joining an elite annual meeting that promotes dialogue and economic progress 鈥� even as a domineering tone from Washington has upended the global order and billionaires have reaped trillions in new wealth as the poor lag behind.
The World Economic Forum, the think tank whose four-day annual meeting opens Tuesday, has a stated motto of 鈥渋mproving the state of the world,” and this year’s theme is 鈥淎 spirit of dialogue.鈥� One question is whether Trump will speak with attendees 鈥� or at them.
Nearly 3,000 attendees from the interlinked worlds of business, advocacy and policy will tackle issues including the growing gap between rich and poor; AI’s impact on jobs; concerns about geo-economic conflict; tariffs that have rocked longstanding trade relationships; and an erosion of trust between communities and countries.
鈥淚t鈥檚 really going to be a discussion at a very important moment … geopolitics is changing,” said Mirek Du拧ek, a forum managing director in charge of programming. “Some people think we鈥檙e in a transition. Some people think we鈥檝e already entered a new era. But I think it鈥檚 undeniable that you are seeing a more competitive, more contested landscape.鈥�
Trump set to loom large
Trump鈥檚 third visit to Davos as president comes as U.S. allies worry about his , Latin America is grappling with his efforts to reap , and his hardball tactics toward Federal Reserve Chair have stirred concern among business leaders and lawmakers alike.
Trump鈥檚 peace-making credentials also will be on the table: An announcement looms about his 鈥� 鈥� for Gaza, and he and his administration are expected to have bilateral meetings in the warren of side rooms at the Congress Center.
The U.S. leader seems to revel in strolling through the Davos Congress Center and among executives who back his business-minded, money-making approach to politics.
Critics will also be nearby. Trump has blown with Colombian President Gustavo Petro, an invitee. Foreign Minister Abbas Araghchi of Iran was set to speak, but his appearance was cancelled. Iran’s leaders face over their handling of , and organizers said Monday that “the tragic loss of civilian lives” means 鈥渋t is not right鈥� for the government to be represented.
The two likeliest counterweights to Trump鈥檚 administration on the international scene 鈥� China and the European Union 鈥� get top billing on the first day: EU Commission President Ursula von der Leyen will speak Tuesday morning, right before Vice Premier He Lifeng, China鈥檚 鈥渆conomic czar鈥� 鈥� as Du拧ek put it.
Founder Schwab sits out, as Nvidia chief makes a debut
The forum will be without its founder, Klaus Schwab, who hosted the first event in Davos 55 years ago focusing on business, only to see it since balloon into a catchall extravaganza. He stepped down in April. New co-chairs Larry Fink, the head of investment firm BlackRock, and Andre Hoffman, vice chair of pharmaceuticals firm Roche, are in charge.
This year will also mark the debut appearance of , arguably the world鈥檚 most important tech leader today, among some 850 CEOs and chairs of global companies 鈥� along with celebrities like Hollywood actor and safe-water advocate Matt Damon.
The future of AI, its impact on business and work, and the prospects for will be key themes.
The presidents of Argentina, France, Indonesia, Syria and Ukraine will be among the dozens of national leaders on hand.
As rich-poor divide widens, trust in institutions falters
Leading public-relations firm Edelman reports in its annual trust barometer 鈥� launched a quarter-century ago and this year surveying nearly 34,000 people in 28 countries 鈥� that trade and recession fears have climbed to an all-time high, optimism is falling especially in developed countries, and 鈥済rievance鈥� last year has morphed into broader 鈥渋nsularity.鈥�
鈥淧eople are retreating from dialogue and compromise, choosing the safety of the familiar over the perceived risk of change,鈥� said CEO Richard Edelman. 鈥淲e favor nationalism over global connection and individual gain over joint progress. Our mentality has shifted from 鈥榳e鈥� to 鈥榤e鈥�.鈥�
The survey found that about two-thirds of respondents said their trust was concentrated toward CEOs of the companies that they work for, fellow citizens or neighbors, while nearly 70% believed institutional leaders 鈥� such as from business or government 鈥� deliberately mislead the public.
Oxfam, the world-renowned advocacy group, issued a report which showed that billionaire wealth rose by more than 16% last year, three times faster than the past five-year average, to more than $18 trillion. It drew on Forbes magazine data on the world鈥檚 richest people.
Oxfam said the $2.5 trillion rise in the wealth of billionaires last year would be enough to eradicate extreme poverty 26 times over. Their wealth has risen by more than four-fifths since 2020, while nearly half the world鈥檚 population lives in poverty, the group said.
The Trump administration has led a 鈥減ro-billionaire agenda,鈥� the group said, through actions such as slashing taxes for the wealthiest, fostering the growth of AI-related stocks that help rich investors get richer, and thwarting efforts to tax giant companies.
The advocacy group wants more national efforts to reduce inequality, higher taxes on the ultra-rich to reduce their power, and greater limits on their ability to shape policy through lobbying.
With such concerns filtering through to policymakers, Trump, who is leading the biggest-ever U.S. delegation and will have about a half-dozen Cabinet secretaries in tow, is expected to discuss in his Davos speech on Wednesday.
Critics of WEF, and Trump, take to the streets
As usual, protesters rallied over the weekend in and near Davos ahead of the event. Hundreds of marchers scaled an Alpine road up to the town on Saturday behind a banner in German that read 鈥淣o Profit from War鈥� and alongside a truck that bore a sign: World Economic Failure.
Companies like Microsoft, India’s Tata Consultancy, social media titan TikTok and cybersecurity firm CrowdStrike joined governments from countries such as Nigeria, Qatar, Ukraine and the United States 鈥� a USA House is making a debut this year 鈥� to set up shop on the Davos Promenade to promote their services, products and national economies.
Davos storekeepers rent out their premises so that forum participants can have the prime real estate for the week.
Critics have long accused the annual meeting of generating more rhetoric than results, and they see Trump’s return as sign of the disconnect between haves and have-nots. Some say Swiss leaders who support the event and flock to Davos too are adding to the problem.
鈥淚t is worrying how Swiss politicians are courting warmongers and their profiteers in Davos,鈥� said Mirjam Hostetmann, president of Switzerland’s Young Socialists, who have led protests against the event. 鈥淭he WEF will never bring peace, but will only fuel escalation.鈥�
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