"After the 2008 financial crash, and with Western capitalism on the brink of seizure, the sessions buzzed as banking leaders, including Jamie Dimon, chief executive of JPMorgan, and Bob Diamond, chief executive of Barclays, clashed with presidents and prime ministers. I was in the main congress arena in 2011 when Dimon insisted that the regulatory rection of governments had gone too far ("Too much is too much" he said) only to be slapped down by Nicolas Sarkozy, then president of France, direct from the public stage."
"This time, it is the international order and the ability of the West to hang together in the face of glaringly different approaches to an intense series of risks. President Donald Trump, here for the first time since 2020, will dominate. On Gaza, Venezuela, Ukraine and most shockingly for Europe, Greenland, the president has thrown multiple boulders into a diplomatic sea already frothing with sharks."
Each January global business, political and advocacy leaders gather at Davos for the World Economic Forum's annual meeting. The forum attracts criticism as an elite 'hot air' playground, accused of being out of touch and obsessed with 'global dialogue' and the 'rules-based order'. When the rules-based order is under stress, the meeting gains urgency. Past crises, notably the 2008 financial crash, produced sharp clashes between bankers and politicians. The current moment centers on threats to the international order and Western cohesion amid divergent approaches to major risks. President Donald Trump's return and confrontational moves on Gaza, Venezuela, Ukraine and Greenland have intensified diplomatic tensions.
Read at Fortune
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