The World Economic Forum has said that its Annual Meeting 2019 in Davos-Klosters will focus on “Globalisation, Shaping a Global Architecture in the Age of the Fourth Industrial Revolution”. It said that Globalisation is being redefined simultaneously by four major transformations: Global economic leadership is no longer dominated by multilateralism but characterised by “plurilateralism”; The balance of global power has shifted from unipolar to multipolar; Ecological challenges, including but not limited to, climate change, are threatening socio-economic development and that the Fourth Industrial Revolution is introducing technologies at a speed and scale unparalleled in history. Whether Globalisation 4.0 improves the state of the world for all will depend on governance at the corporate, government and international levels that adapts sufficiently to this new economic, political, environmental and social context.
“We are just at the beginning of Globalisation 4.0, and are significantly underprepared for the magnitude of change we are facing. We are still approaching issues of globalisation with an outdated mindset. Tinkering with our existing processes and institutions will not be enough. We need to redesign them so that we can capitalise on the abundance of new opportunities that await us, while also avoiding the kinds of disruptions that we are witnessing today,” said Klaus Schwab, Founder and Executive Chairman, World Economic Forum.
It said “Shaping the global, regional and industry agendas at the beginning of 2019 will take place in a context of unprecedented uncertainty, fragility and controversy. In a world preoccupied by crisis management at a moment of transformative change we will use the spirit of Davos to build the future in a constructive, collaborative way. “Transformation” best describes the geopolitical, economic and environmental outlook globally. We are shifting from a world order based on common values to a “multi-conceptual” world shaped by competing narratives seeking to create a new global architecture. We live in a world with new planetary boundaries for its development. We are entering into a Fourth Industrial Revolution shaped by advanced technologies
from the physical, digital and biological worlds that combine to create innovations at a speed and scale unparalleled in human history. “Collectively, these transformations are changing how individuals, governments and companies relate to each other and the world at large. In short, we are fast approaching a new phase of global cooperation: Globalisation 4.0. But, will the arrival of Globalisation 4.0 result in our acknowledging these changes and working together to create new opportunities for humankind? Or will globalisation suffer from multiple geopolitical, economic and environmental crises that strain multilateral institutions and hinder efforts to collaborate towards a shared future? Progress in either instance will require a platform that can act as an honest broker among the competing and increasingly conflicting values and ambitions of nations, industries and societies. As the International Organisation for Public-Private Cooperation, the World Economic Forum will focus its convening power, community engagement, insight generation and platform technology to shape a new framework for global cooperation.
The 49th World Economic Forum Annual Meeting will focus on the strategic ramifications of Globalisation 4.0 and its future impact on global cooperation and the Fourth Industrial Revolution. The programme in Davos will aim to foster systems leadership and global stewardship while recognising the actuality of a more complex, “multi-conceptual” world.
