It is a non-profit organization based in Geneva, Switzerland.
It is an international institution for public-private cooperation.
Its mission is to improve the state of the world by engaging political, academic, business, and other leaders of society.
It was established in 1971.
The World Economic Forum Annual Meeting happens at the beginning of each year. It is said to be independent and impartial. The strategy is to bring together relevant leaders from all sectors of the society to address the significant challenges in the best possible ways.
The World Economic Forum also acts as a think tank and publishes series of reports including the Global Risks Report, Global Competitiveness Report, and the Global Gender Gap Report.
Davos is a Swiss ski town where the World Economic Forum Annual Meeting is held. This year the meeting will take place virtually because of the pandemic.
“Committed to improving the state of the world”
No individual stakeholder can independently address the social, technological, and environmental challenges of the globalized world. World Economic Forum provides space for informed cooperation between different stakeholders.
World Economic Forum – 2021
The theme for the 2021 meeting is “The Great Reset”. The theme represents the joint commitment to urgently build the economic and social system for a better future. This year is considered crucial to rebuilding trust. The emphasis will be based on the fact that today we face global challenges that require global solutions as well as actions.
From past to present
The first world war resulted in the formation of the League of Nations. But it failed to deliver because the post-world war reparations did not consider Germany’s political and economic recovery stability.
Some lessons were learned and at the end of the second world war, allies met at Bretton Woods to develop policies related to economic stability.
The new systems and organizations came into existence like IMF, World Bank and United Nations. Similarly, in 2008 financial crisis that resulted in the first global recession since the 1930s, led to regulatory actions to prevent similar future crisis.
Now WEF’s mission “The Great Reset” looks far beyond general reforms. Their mission is to build a better-prepared society. Due to pandemic, the trust is eroded and need to be built back.
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