{"id":39223,"date":"2024-01-22T04:33:33","date_gmt":"2024-01-21T23:03:33","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=39223"},"modified":"2025-04-24T02:56:50","modified_gmt":"2025-04-23T21:26:50","slug":"davos-meeting","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/davos-meeting\/","title":{"rendered":"Davos meeting 2024"},"content":{"rendered":"<h2>What\u2019s in today\u2019s article?<\/h2>\n<ul>\n<li>Why in news?<\/li>\n<li>What is World Economic Forum?<\/li>\n<li>What is Davos meet?<\/li>\n<li>What are the different reports published by WEF?<\/li>\n<li>Key takeaways from Davos meeting 2024<\/li>\n<\/ul>\n<h2>Why in news?<\/h2>\n<ul>\n<li>This year\u2019s edition of the World Economic Forum (WEF) annual meeting was held from January 15 to January 19.<\/li>\n<li>The overarching theme for WEF 2024 was\u00a0&#8216;Rebuilding Trust&#8217;.<\/li>\n<\/ul>\n<h2>World Economic Forum<\/h2>\n<ul>\n<li>It is the international non-governmental organization for Public-Private Cooperation.\n<ul>\n<li>It was founded in January 1971 by German engineer and economist Klaus Schwab.<\/li>\n<\/ul>\n<\/li>\n<li>The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas.\n<ul>\n<li>It has no independent decision-making power.<\/li>\n<\/ul>\n<\/li>\n<li>HQ: Cologny-Geneva, Switzerland.<\/li>\n<\/ul>\n<h2>Davos meet<\/h2>\n<ul>\n<li>Annually, the WEF organizes a meeting at the end of January in Davos, a mountain resort in Graub\u00fcnden, in the eastern Alps region of Switzerland.<\/li>\n<li>The Annual Meeting, also known as the Davos Agenda, <u>has the objective of orienting global leaders on the imperatives of the year ahead<\/u>.<\/li>\n<\/ul>\n<h2>Different reports published by WEF<\/h2>\n<ul>\n<li>WEF also produces a series of annual reports such as \u2013\n<ul>\n<li>Global Competitiveness Report,<\/li>\n<li>Global Information Technology Report,<\/li>\n<li>Global Gender Gap Report,<\/li>\n<li>Global Risks Report,<\/li>\n<li>Global Travel and Tourism Report,<\/li>\n<li>Global Enabling Trade Report.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2>Key takeaways from Davos meeting 2024<\/h2>\n<ul>\n<li>Artificial Intelligence\n<ul>\n<li>The one issue that took centre stage at this year\u2019s WEF meet was Artificial Intelligence (AI).<\/li>\n<li>Its many transformational abilities for human welfare were discussed.<\/li>\n<li>It also highlighted the potential threats such as:\n<ul>\n<li>the need for regulation,<\/li>\n<li>fear of job losses,<\/li>\n<li>the risks of impersonation and misinformation, and<\/li>\n<li>the inequalities it can potentially worsen.<\/li>\n<\/ul>\n<\/li>\n<li>Overall, the participants agreed that the positives outweigh the negatives, and <u>human intelligence did not face a major threat from AI<\/u>.<\/li>\n<\/ul>\n<\/li>\n<li>War and uncertainty\n<ul>\n<li>The summit highlighted the <u>risk posed by a fragile geopolitical situation, wars in the Middle East and Europe, the threats to global supply chains, and the uncertainty around food security<\/u>.<\/li>\n<li>The head of the Palestine Investment Fund estimated at least $15 billion would be needed to rebuild houses in Gaza alone.<\/li>\n<li>However, Arab states said they would not fund reconstruction unless there was lasting peace.<\/li>\n<\/ul>\n<\/li>\n<li>Climate\n<ul>\n<li>The need for businesses to adapt to climate change and for countries to unite for action against it despite differences was another topic of discussion.<\/li>\n<li>In the financing of climate action in developing countries, assistance has to be provided by developed countries; otherwise, this inequality will only grow, resulting in winners and losers.<\/li>\n<\/ul>\n<\/li>\n<li>China\u2019s economy\n<ul>\n<li>Facing a slowing economy, China tried to attract more investment from the West, which has witnessed some cooling.<\/li>\n<li>At 5.2%, China\u2019s GDP growth in 2023 is still below pre-pandemic levels.<\/li>\n<li>It is battling American attempts to isolate it, as evidenced in the semiconductor trade standoff.<\/li>\n<\/ul>\n<\/li>\n<li>India specific observation\n<ul>\n<li>An assessment of Davos 2024 by consulting firm McKinsey and Company said:\n<ul>\n<li>India is transforming rapidly as one of the fastest growing large economies in the world.<\/li>\n<li><u>When it comes to technology, talent, healthcare, and other areas, its future in 2024\u2014and beyond\u2014is worth paying attention to<\/u>.<\/li>\n<\/ul>\n<\/li>\n<li>The summit announced the launch of a Global Good Alliance for Gender Equity and Equality with the support and <u>endorsement by WEF and Government of India<\/u>.\n<ul>\n<li>The idea of this alliance emerged from the G20 Leaders\u2019 Declaration.<\/li>\n<li>The objective of this Alliance is to bring together global best practices, knowledge sharing and investments in the identified areas of women\u2019s health, education, and enterprise<\/li>\n<li>Supported by the Bill and Melinda Gates Foundation, the alliance will be housed and anchored by the CII Centre for Women Leadership.<\/li>\n<li>The World Economic Forum has come on board as a \u2018Network Partner\u2019 and Invest India as an \u2018Institutional Partner\u2019.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<hr \/>\n<h3>Q1)\u00a0What is gender equality and equity?<\/h3>\n<p>&#8216;Gender equality&#8217; means equal outcomes for women, men and gender-diverse people. &#8216;Gender equity&#8217; is the process to achieve gender equality. Gender equity recognises that women and gender-diverse people are not in the same &#8216;starting position&#8217; as men. This is because of historical and social disadvantages.<\/p>\n<h3>Q2) What is Bill &amp; Melinda Gates Foundation?<\/h3>\n<p>The Bill &amp; Melinda Gates Foundation is a private philanthropic foundation that was established in 2000 by Bill Gates and his wife, Melinda Gates. The foundation&#8217;s goal is to help people lead healthy, productive lives, and it focuses on improving health and reducing poverty in developing countries.<\/p>\n<hr \/>\n<p><strong>Source:<\/strong> <a href=\"https:\/\/indianexpress.com\/article\/explained\/everyday-explainers\/davos-meeting-2024-5-key-takeaways-9120670\/\" target=\"_blank\" rel=\"nofollow noopener\"><u>Davos meeting 2024: 5 key takeaways<\/u><\/a><u> | <\/u><a href=\"https:\/\/pib.gov.in\/PressReleaseIframePage.aspx?PRID=1997896\" target=\"_blank\" rel=\"nofollow noopener\"><u>PIB<\/u><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Davos Agenda has the objective of orienting global leaders on the imperatives of the year ahead.<\/p>\n","protected":false},"author":5,"featured_media":39224,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[18],"tags":[],"class_list":{"0":"post-39223","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-mains-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/39223","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=39223"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/39223\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/39224"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=39223"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=39223"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=39223"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}