WEF @Davos 2023: Key Takeaways

Most economies are coming out of the covid-triggered slowdown.

Business leaders have put a positive display and projections about the developing scenario

Concern:  Inflationary pressures from China’s reopening and rising debt distress in the developing world.

High interest rate charged by central banks to ensure inflation is under check.

Pressure increasing on financial institutions to finance the global transition to a greener future much faster than they have been doing so far.

Inflation Reduction Act is aimed to make historic investments in the USA social safety net.

It makes the largest investment in combating climate change in U.S. history, lowers the cost of prescription drugs and raises taxes on corporations.

Friendshoring is a strategy where a country sources the raw materials, components and even manufactured goods from countries that share its values.

The dependence on the countries considered a “threat” to the stability of the supply chains has slowly reduced.

It is a global initiative to fund and grow new and existing public, private and philanthropic partnerships (PPPPs) to help unlock the $3 trillion of financing needed each year to reach net zero, reverse nature loss and restore biodiversity by 2050.

It is time for richer countries and corporates to put in more money to fight climate change.

EU raised concerns over a US green energy law that benefits products, such as electric vehicles, made in America.

Concern: Fears of an economic downturn highlighted global divisions as some delegates encouraged a quick return to the negotiating table.

It was broadly welcomed but also raised inflationary fears and left people waiting to see what this would mean for existing tensions with the United States.

India is promoting a just and equitable growth for all in the world during its G20 presidency.

It is making significant progress on the most pressing domestic challenges.