Davos explains itself: The exclusive interview with the World Economic Forum, via TianatheFirst.
Ahead of this year's Davos meeting, the WEF's Paul Smyke, the head of the regional agenda, North America, and member of the Executive Committee, World Economic Forum, spoke to the Washington Examiner about what the"Davos man" strawman gets wrong and right, why the WEF has banned the Russian government but not the Chinese Communist Party, and whether the WEF is really out to make you eat bugs. Below is the exclusive interview in its entirety.
And so obviously, the nature of your question is a topic that I hear a lot when I'm having meetings in Washington and so on. But I think it, in some ways, misunderstands the purpose of the forum. The forum was created as a location — in both Davos but also as a philosophy in terms of why this organization has existed for 53 years — as a location for people who don't see eye to eye to get together and talk.
Paul Smyke: I'm not going to draw parallels, but we can say that there have been protests in just about every country in the world about how COVID was managed. I'm really not here to comment or give an opinion. I understand the nature of your question, but literally responding to a hypothetical would not make sense right now. In the words of Dick Cheney — I'm paraphrasing here — there are a lot of bad guys out there.
Paul Smyke: Great question. Thanks for asking. I mentioned before the DNA and ethos of the organization. We are all about having people who disagree with each other but are committed to make a change and improve the state of the world. That's the motto of the organization:"committed to improving the state of the world.
Paul Smyke: Thanks for asking. The concept of stakeholder capitalism has been taken into some places where, frankly, it was never intended to go whatsoever. So there is a misconception. Stakeholder capitalism, at the end of day, is relatively straightforward. Klaus Schwab, the founder of the forum, did elaborate this over many, many years. The first time the term was used was in 1973, so this is hardly a new concept.
Paul Smyke: There's such a broad canvas of people at the annual meeting, and I'm going to have to have you confirm. But whether it's TikTok or someone else [is] the example, will people be challenged? That's why we're here. We are here so that they are challenged because otherwise we're not really doing our job. Now, there are different settings where that can happen. Sometimes it's a public setting. Sometimes it's a private setting.
Washington Examiner: Flashing back to the Trump administration, Donald Trump, who was first of all high-profile Republican at Davos, he used the opportunity to blast Jerome Powell's more hawkish tendencies at the Federal Reserve well before COVID. He even entertained the possibility of negative interest rates. Quantitative easing is something that's been backed at Davos, defended pretty publicly at Davos. And now we've seen a massive shift away from it.
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