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Dismal Outlook for 2019: Davos Forum

The World Economic Forum Annual Meeting in Davos, Switzerland, ended Jan. 25 with global economic leaders doubtful for the future. Compared to the 2018 annual forum, morale is far lower this year. At the beginning of the conferences, the International Monetary Fund (IMF) cut its global growth for 2019, setting the tone for the rest of the conference.

The IMF said the global economy is "growing more slowly than expected," and many experts cite uncertainty in the market as a main contributor. China's slowing economy and the trade war with the U.S. set back global growth while the looming Brexit deal in the U.K. has left business owners with headquarters in the U.K. uncertain of their future.

Climate change was another main topic discussed at Davos, with many experts saying the world is running out of time to act on climate change. If large corporations and countries do not figure out how to set back their carbon footprints, irreversible damage on the environment will be on its way.

—Christie Citranglo, editorial associate

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Friday, 08 December 2023

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