At start of World Economic Forum in Swiss Alpine Davos, appeals to reduce social inequality are increasing. India’s prime minister, Narendra Modi, said in his opening speech that social distances and rifts would have to be overcome, both nationally and internationally. “A development deserves only its name if everyone is allowed to participate,” says Modi. His government is working it, for example by helping people open a bank account for first time in ir lives.
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Modes thus referred to central agenda of economic meeting, which will be subject of a number of discussions. By this Friday more than 3,000 participants from business, politics and civil society come toger under motto “For a common future in a shattered world”. A number of heads of State and Government are also expected, including Chancellor Angela Merkel and French head of state Emmanuel Macron. At end, US president Donald Trump is said to hold a speech.
In his address, Modi also highlighted international relations between States and establishment of new barriers in trade matters, for example. One must connect “people toger instead of separating m,” he said. More and more countries would focus more on mselves, that is opposite of globalisation and a ‘ worrying situation ‘.
Discussion about Trump’s duties
His statements are particularly explosive, as dispute between US and China is tightened by trade duties on time at beginning of Economic Forum. US President Trump announced that it would adopt high import duties on solar panels and washing machines. He’s resetting his America-first agenda.
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The influential head of investment company Blackstone, Stephen Schwarzman, defended trade policy trumps at World Economic Forum. China’s import duties have been three times higher than those of United States. Schwarzman pointed to huge US deficit in trade with China, which Trump has been disturbing for a long time. “This relationship must change, it must be appropriate,” he said. “The Chinese laws are similar to those of US from nineteenth century, so emerging countries are going ir way.”
Previously, founder of World Economic Forum had given matic orientation of meeting. The great concern of economy at moment is that “growth without a renewal of social contract could not be sustainable.” Many societies today are struggling with change through globalisation and digitisation. This crisis demanded that executives from politics and business decidedly renewed ” Foundation of society”.
World Economic Forum-modes warns against protectionism India’s premier Narendra modes opened World Economic Forum in Davos with his speech. Among or things, he warned against negative consequences of economic foreclosure and climate change. © Photo: AP Photo/Markus Schreiber
