World Economic Forum

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Bill Gates speaks during the Gates Foundation press conference at the Annual Meeting in Davos 2009.

The World Economic Forum is a foundation based in Geneva, Switzerland. It is known for holding a yearly meeting in Davos in the mountains of Graubünden.[1] Important leaders from politics (such as presidents) and the economy are given an opportunity to talk about subjects that concern everyone. Very often, these subjects concern globalization. Usually the Swiss army helps secure the area.[2]

These meetings are often critizised because they are seen as a vehicle to further capitalism in the world by anti-capitalists and supporters of antiglobalization. There is an organisation called Public Eye On Davos that organizes public information during the meeting. During the meetings, which invole the G8, access to the village of Davos is heavily controlled. A small demonstration happens every year in Davos during these meetings. This is one of the rights given by the Universal Declaration of Human Rights. Bigger demonstrations are normally in the other cities in Switzerland during the World Economic Forum.

Mohammed Khatami at the Forum, also in 2007

History[change | change source]

The forum was established in 1971. WEF members are about 1,000 large companies and organizations from around the world, including Russia. The permanent executive body is the Board of Directors. The headquarters is located in the suburbs of Geneva - Cologny. The budget is formed from annual membership fees and funds contributed by the Forum participants. Membership is reviewed annually.

The founder and permanent leader of the WEF is Professor Klaus Schwab. On his initiative, the first symposium was held in 1971, bringing together about 450 leaders of leading European companies to discuss the prospects for the world economy and develop a common strategy. At the first meetings, which were held under the auspices of the Commission of the European Communities (now the European Commission), the issues of improving the position of Western Europe in the competitive struggle were discussed mainly. Over the years, the topics gradually expanded, the agenda included political and economic issues affecting other regions, problems of improving the mechanism of world trade, correct partnership. In the mid-1970s, influential people from all over the world (members of governments and business leaders) began to be invited to Davos, and in the next decade the forum acquired the status of one of the main events of the year.

References[change | change source]

  1. "World Economic Forum | LobbyFacts Database". lobbyfacts.eu. Retrieved 2022-04-20.
  2. "Our Mission". World Economic Forum. Retrieved 2022-04-20.

Other websites[change | change source]