Edition: International | Greek
MENU

Home » World

Opening "Davos", Donald Trump lauds US economy, whereas IMF and PwC downbeat outlooks overshadow climate goals

Opening the World Economic Forum (WEF) in Davos, President Trump touted what he described as a ‘blue-collar boom’ transforming the US economy and hailed his trade agreement with China in a speech to global business and government leaders

By: N. Peter Kramer - Posted: Wednesday, January 22, 2020

"We will never let radical socialists destroy our economy, wreck our country or eradicate our liberty".
"We will never let radical socialists destroy our economy, wreck our country or eradicate our liberty".

by N. Peter Kramer 

Opening the World Economic Forum (WEF) in Davos, President Trump touted what he described as a ‘blue-collar boom’ transforming the US economy and hailed his trade agreement with China in a speech to global business and government leaders. He ticked off a list of accomplishments from low unemployment to increases in foreign investment. ‘ The campaign style address appeared aimed as much to a US re-election audience and the 100 senators who will act as jurors in his impeachment trial as at the other head of states and business executives attending to the World Economic Forum in the Swiss mountain resort’, The Wall Street Journal wrote.

Before the Davos crowd of several hundred global business and political leaders, Mr Trump took also a shot at his domestic left wing political opponents Elisabeth Warren and Bernie Sanders, saying: ‘We will never let radical socialists destroy our economy, wreck our country or eradicate our liberty’. It was the US President’s second appearance in Davos. In 2018 he sought to reassure world leaders and business executives. ‘America First does not mean America alone’, he said at the time.

Challenges of restoring growth overshadow climate goals

The organisers of WEF had wanted this year’s event to promote a more sustainable world by urging companies to look beyond profits. But the message of IMF chief economist Gita Gopinath that trimmed the forecasts for global economic growth casted a shadow over it. Also, the in Davos launched PwC annual survey of CEOs revealed concerns about the global economic backdrop, with corporate leaders saying their own companies’ prospects are under pressure.

These latest signs of global economy fragility will force global leaders and chief executives to tackle the more immediate challenges of restoring growth and confidence, than putting the focus on issues such as climate change. ‘There is simply no room for complacency, the world needs stronger multilateral co-operation and national level policies to support a sustained recovery that benefits all’, Ms Gopinath said.

READ ALSO

EU Actually

One year after the Draghi report: China’s trade surplus increased by almost 20 percent

N. Peter KramerBy: N. Peter Kramer

At the presentation of his 400-page report in September 2024, Mario Draghi said, the EU will face a ‘slow death’ if it doesn’t quickly close the gap with economic superpowers such as the United States and China

Europe

The EU must define its red lines in a tough new security doctrine

The EU must define its red lines in a tough new security doctrine

Realpolitik, greatly enhanced by television, has in recent weeks sent an embarrassing message around the world – the European Union isn’t the global player it claims to be

Business

The Next Chapter: Governance and Growth for Global South families

The Next Chapter: Governance and Growth for Global South families

In much of the Global South, family-owned businesses are not a side story

MARKET INDICES

Powered by Investing.com
All contents © Copyright EMG Strategic Consulting Ltd. 1997-2025. All Rights Reserved   |   Home Page  |   Disclaimer  |   Website by Theratron