Davos 2024: A Convergence of Power, Influence, and Global Challenges

Global Leadership and Key Attendees

A decade of wasted opportunity: In a world still recovering from the pandemic's economic shocks and with income inequality startlingly high, the global economy will likely be the most-discussed topic. The World Bank said last week that the global economy is likely to slow to its worst half-decade of growth in the past 30 years. Without 'a major course correction,' the bank said, this will be 'a decade of wasted opportunity.'

The Impact of AI and Geopolitical Tensions

Geopolitical tensions: With conflict in Europe and the Middle East and growing tensions between the United States and China, geopolitics will be another major topic of conversation. Leaders gathered in Davos Sunday to discuss Ukrainian President Zelensky's 10-point peace plan to end Russia's war with his country. Zelensky is expected to give a speech later Tuesday and meet with JPMorgan's Dimon. Israeli President Herzog, meanwhile, will participate in a conversation about 'achieving security and cooperating in a fractured world,' with US Secretary of State Blinken and WEF executive chairman Klaus Schwab later this week.

Wealth Disparities and Global Economic Trends

Why Americans are buying a lot less Champagne: Champagne sales lost some of their pop in 2023 following a few record-breaking years of sales spurred by the end of Covid-19 lockdowns. Comité Champagne, a trade association representing more than 16,000 winegrowers and 320 Champagne houses, said in a new report that total shipments last year of bubbly from France fell to 299 million bottles, a decline of 8.2% compared to 2022. But don't cry for Moët. Although total shipments fell, the financial fortunes for many Champagne houses were less affected because they sold more expensive labels, thus enabling them to maintain their sales above €6 billion ($6.6 billion) for another year, Comité said in a release.