Tag: Davos!

  • Without the circus, Davos can get down to business

    In a more innocent age, Davos was a high-minded gathering for intellectuals trying to solve the world’s problems. But the World Economic Forum has gradually become overwhelmed by a circus of rock stars, Hollywood A-listers, big-ticket world leaders and their entourages. The issues may still be debated, but they can feel secondary to the spectacle. It’s easy to forget about the state of the world when you’ve just spotted Charlize Theron.

    Last year’s big-ticket rock star was of course Donald Trump. The US president certainly knows how to make an entrance. His arrival at Davos in 2018 – amid gasps, gawps and selfies from its elite delegates – was among the most memorable of his political career.

    However, he also knows how to make an exit, sometimes before he has even arrived. Unlike his ‘will he, won’t he?’ routine before the Singapore Summit with Kim Jong Un, he not only stuck with his decision to pull out of Davos, but doubled down on it, withdrawing his entire delegation. Theresa May joined him this week, after a harrowing week in Parliament. Poor old WEF founder Klaus Schwab may be the only person having a worse week than the UK Prime Minster. Suddenly, the rock stars are no longer on his bill.

    Last year’s Davos was an event crying out for attention, after a 2017 Forum that was poorly attended and short on headlines. Trump delivered that in spades, making the WEF feel fresh and relevant.

    The shoe may not quite be on the other foot this year, but the WEF could have been the place to reinvigorate Trump’s presidency. Throughout his administration, Trump has been able to point to a US economy that remains a matchless global powerhouse. From a surging stock market to robust job growth, he has claimed credit, sometimes justifiably, for delivering the economic success he promised voters.

    Right now though, that powerhouse looks like it might actually be on fire. With a deficit on track to pass $1 trillion, alongside a stock market that has approached record-breaking levels of volatility in recent weeks, the last thing the United States needed was a record-breaking government shutdown. But that is what they have, delivering more uncertainty and deepening an already cavernous political rift between the branches of government.

    With Democrats controlling Congress, Trump is far weaker at home than he was this time last year. After Fisk recently warned of a downgrade to the United States’ AAA status, and amid sustained sell-offs of U.S. debt from its chief buyer, China, the outlook is rather cloudy, even if the fundamentals of the U.S. economy remain strong.

    In 2018 Davos-watchers wondered if Trump would walk into the Forum and lob a metaphorical hand grenade into proceedings. But rather than rub the globalists’ noses into his America First agenda, his appearance felt more like a charm offensive, short on substance perhaps, but at least mildly reassuring. Now things have changed. With diminished domestic leverage, a wobbling stock market and unrest among sections of his blue-collar base, not to mention startling fresh revelations from Michael Cohen, there may be a need to refocus on old alliances and safe havens.

    Davos, with its unique combination of heavyweight political, business and intellectual clout, might have been the perfect place for Trump to regain the initiative lost in his administration’s parochial focus. As the WEF gets under way on Tuesday, he may wish he was here. Frankly, Theresa May will probably wish she was anywhere rather than Westminster.

    There is a positive to all of this though. The names may not be as big, but there are still plenty of heavyweights attending this year’s Forum. These are serious people, keen to get down to the nitty-gritty of debate and solutions, and less concerned with the political photo opportunity or the landmark speech. So rest easy, Klaus; perhaps Davos will benefit from the absence of the circus.

     

    • Richard Quest, anchors Quest Means Business at CNN
  • South African business leader snubs Trump in Davos

    South African business leader snubs Trump in Davos

    The South African business leader who called for a boycott of Donald Trump’s closing World Economic Forum speech on Friday afternoon has explained why Africans were angry with the U.S. president and why some of them did not attend his Davos speech.

    Bonang Mohale, CEO of the lobby group Business Leadership South Africa, wrote an open letter to President Trump before the WEF meeting in which he condemned the discourse of the U.S. leader, the website of the national broadcaster Swissinfo reported on Friday.

    “We have read with consternation reports of your derisive comments characterizing African nations and others as ‘shithole countries’, and questioning why the United States should allow immigrants from our continent, or other similarly described nations like El Salvador and Haiti,” Mohale said in the letter to Trump.

    He noted Trump’s reported Jan. 12 comments which stated a preference for immigrants from “countries like Norway”.

    Mohale said many Africans were well aware of the serious challenges they faced such as poor governance, unacceptably high unemployment, inadequate public health care and education systems that, while improving, remained below the levels needed to lift them from poverty.

    “Some of these challenges are self-made, (but) many are the inevitable result of centuries of colonization and its aftermath. Many of us are clear-eyed about our difficulties and how to tackle them, and are doing just that,” said the South African.

    Noting South Africa’s legacy of the racist system of apartheid, Mohale said in the open letter to Trump, “Many of us will be boycotting your address to delegates at Davos in protest against your divisive comments and continued failure to unequivocally apologize.”

    South Africa’s deputy president and newly-elected leader of the ruling African National Congress, Cyril Ramaphosa, left Davos before Trump’s speech.

    He said he had hoped President Trump’s presence at the 2018 WEF meeting would help stimulate a debate that inspired commitment to a world premised on “basic principles of humanity, inclusiveness, respect, tolerance and forbearance”.

    Mohale said such a world is “an alternative, in other words, to a world where walls, disparagement, and hate dominate the discourse of the leader of the U.S.”

  • Trump asked to finalise details of visit to Britain – May

    Trump asked to finalise details of visit to Britain – May

    British Prime Minister Theresa May and U.S. President Donald Trump have asked officials to “work together on finalising the details of Trump’s visit to the UK later this year,’’ May’s office reports.

    May and Trump met on Thursday on the sidelines on the World Economic Forum in Davos, Switzerland, a day ahead of a scheduled keynote speech by Trump.

    They discussed Iran and Syria, while May briefed the U.S. president on the “good progress’’ in Britain’s negotiations on leaving the European Union, Downing Street said.

    “The two leaders reiterated their desire for a strong trading relationship post-Brexit, which would be in the interests of both countries,’’ it said.

    Trump announced earlier this month that he had cancelled a visit to London coinciding with the opening of a new U.S. embassy on February 26, when mass protests against him were planned in London.

    He said he did not like the building and thought it was a “bad deal’’ financially.

    Critics said the real reason for Trump’s cancellation of the trip was the strong opposition to him in Britain.

    Foreign Secretary Boris Johnson on Monday blamed the opposition Labour party for whipping up anti-Trump sentiment, which risks “damaging the national interest.’’ (dpa/NAN)

  • Osinbajo heads to Davos

    Osinbajo heads to Davos

    Vice President Yemi Osinbajo is leading Nigeria’s delegation to this year’s World Economic Forum this week in Davos, Switzerland.
    On the delegation are ministers and special advisers, including Minister of Industry, Trade and Investment Dr. Okey Enelamah, Minister for Agriculture & Rural Development Chief Audu Ogbeh and Minister of Water Resources Suleiman Adamu, an engineer.
    A statement by his Senior Special Assistant on Media and Publicity, Laolu Akande, said the Special Adviser on Economic Matters to the President, Dr. Adeyemi Dipeolu, was also on the delegation.
    It reads: “At the forum, the vice president would lead a discussion on Business in Nigeria, where ministers from the Federal Cabinet, who are members of the Nigerian delegation, would also feature.
    “The yearly forum, which draws together governmental and business leaders around the world, to discuss economic issues and review developments, is normally composed of such panel discussions, country/continent-specific themes and other subjects.
    “Besides, the session on Business in Nigeria, the vice president will feature in a number of other discussions alongside world leaders including presidents and prime ministers.
    “For instance, he will be discussing on the theme “Building Africa” with Rwandan President Paul Kagame and the Prime Minister of Ethiopia Hailemariam Dessalegn, among others. The vice president would also feature on a panel discussion on terrorism.
    “While in Davos, the vice president will hold meetings with some of the global companies and other leaders attending the forum.”
    Osinbajo, who departed Abuja yesterday, is expected back on Friday.

  • Is the political party corruption? Are soldier’s and politician’s oaths different? Davos!

    Is the political party corruption? Are soldier’s and politician’s oaths different? Davos!

    Nigeria is at a needless moral and monetary crossroads from theft and stealing- masquerading as ‘corruption’ which seems to be a judicially ‘forgivable sin of politics’. Quite apart from the massive and multi-dimensional financial extortion and theft in cash there is the ‘other corruption’- lost leadership, poor decision-making, ethnic protectionist decision making, false federalism, inter-ethnic and intra-ethnic discrimination and social immorality. Even ‘plea bargaining’ has been Nigerianised for politicians and billionaires. But judicial equity exists only if a goat thief can ‘plea bargain’ away a three year prison sentence by returning goat’s tail, leg or skin if the police and judiciary have not chopped the evidence!

    ‘Are you a politician and corrupt and a thief?’ If ‘yes’ step aside. 2013 Nigeria has no place for you. ‘Can serving politicians become non-corrupt and non-thieving?’ ‘Why are they corrupt and thieving anyway?’ ‘If we had better policing and anti-corruption agencies, would political corruption and thieving reduce?’

    Let us get something straight about politics and democracy in Nigeria. The current political class is making Nigerian citizens feel that they, not the politicians, are ‘the problem’ with Nigerian democracy. It is even the mantra of public lectures. After recommending Public Private Partnerships to fill the huge hole left by official government corruption and provide more money to steal, the lectures target the citizens for not overcoming massive electoral fraud or not ‘Arab springing’ and of course dying. ‘A citizenship gets the government it deserves’ summarises the attitude. But the citizens, especially non-civil service private sector citizens, have suffered billions in lost incomes during strikes, Nigerians have died, over 500 during the Abiola annulment and since then assassinations, maiming and lethal political violence incidents. The people of Nigeria are told to forget the rigging, cheating, cross carpeting, unknown candidates all misnamed benignly as ‘political electioneering’ instead of ‘Crimes Against Nigeria’. Somehow when the word ‘political’ is put in front of a murder or election forgery it is transformed into an unsolvable ‘lesser crime’ a misdemeanour, a juvenile incident, a joke, judicially ‘alright’. No punishment. ‘Go for re-election and please do it properly this time!’ Rubbish! Political crimes must be punished in prison, like for goat theft. A vote is more valuable than a goat. Nigerians, your misguided acceptance N500 to vote is not the cause of our political problems.

    Politicians, military and civilian, cannot escape blame for Nigeria’s failure to provide 100,000Mw power, books and sports equipment for all schools, pothole free transport and modern 200kph railways and MDGs with all the riches God has given to Nigeria. The people were never at decision-making business meetings, contract awards where Nigeria’s budgets were divided between greedy political parties, contractors and potholes.

    It seems the political party is designed as the greatest corruption organ in Nigeria draining the budgets of the nation through fictitious or inflated contracts and extortion from contractors and consultants, having access without accountability? Politicians are not infants but adults who voluntarily and automatically take responsibility for development and are solely responsible for their actions and inactions, their morals and immorality.

    Our soldiers from 18 years will be fighting and dying in Mali for what reward? Already the first two have died on home soil? Our policemen, some just 18 are ‘training’ in a pigsty. Congrats to IGP Abubakar and Channel CSR Project for this ‘revelation’ about the Ikeja Police College that we all know. Many years ago, the Americans sent to teach new techniques at the College had to leave because it was not fit for animals. But it is an widespread educational malady in ‘pigsty’ secondary and tertiary hostels and schools across Nigeria while Nigeria’s politicians grow fatter. What is the Police College’s annual budget over 30 years? Who stole it? Who underfunded the college? Who dehumanises the trainees? Which past IGPs now advising Abubakar on ‘good police governance’ neglected the Police College and used it as punishment posting for senior officers? Today the seniors of these 18+ year olds are dying daily in kidnappings, robberies, bank attacks and terror attacks. They die as adults, often unmourned. They, like the soldiers, took an oath to protect Nigerians and serve the country, laying down their lives.

    Politicians also take a sworn oath to serve with honesty. Does it not matter to their souls? So even if they are fraudulent with honesty, the oath to serve Nigeria is still binding. So the politician must be anti-corrupt and honest. But can good come out of bad? What was the original motivation for running? Corruption?

    This ‘’politicians’ responsibility’’ argument does not absolve the electorate from some responsibility. Within one week a politician had demands from his constituents totalling over N5million for school and hospital bills. Citizens invite politicians to functions, expecting megabucks. Citizens elevate the politician to a minor god by bowing to ‘Excellency’, ’First Lady’, ‘Distinguished’, ‘Honourable’. Citizens create the political monster and are surprised that it bites them!

    Where would Nigeria be without the Corporate Social Responsibility, the Parent Teachers and Old Students Associations, NGOs, DFID, USAID etc? ‘Government cannot do it alone’ is a smokescreen for corruption and the need for Public Private Partnerships is questioned in the light of a trillion naira losses to corruption scams.

    DAVOS World Economic Summit must begin to get a new deal for the world’s poor or the revolutions will be worldwide. How can Morgan Stanley ‘return to profitablity’ and not repay ruined shareholders?