The World Economic Forum opens in Davos, Switzerland, on Monday for a five-day meeting drawing leaders from governments, businesses and academia to tackle global challenges. It unfolds against US threats of tariffs on eight European nations opposing America's push to annex Greenland, while China positions itself as a multilateralism advocate.
The World Economic Forum kicks off on January 20 in Davos, Switzerland, for a five-day gathering themed "A Spirit of Dialogue" to foster cooperation amid rising global fragmentation. It draws around 65 state and government leaders and 850 top business executives.
Geopolitical tensions loom large, with US President Donald Trump threatening additional 10 percent tariffs on eight European allies—Denmark, Finland, France, Germany, the Netherlands, Norway, Sweden and the United Kingdom—for opposing America's bid to annex Greenland, a Danish self-governing territory. Trump said the tariffs would take effect February 1 on imports from these nations, rising to 25 percent on June 1 if no deal is reached on the "complete and total purchase" of Greenland. Experts warn implementation would pressure European economies, slow global recovery and fuel protectionism.
European leaders have pushed back. UK Prime Minister Keir Starmer called the move "completely wrong," while French President Emmanuel Macron deemed it "unacceptable." The EU held an emergency coordination meeting on Sunday.
Trump is scheduled to address the forum on Wednesday. Chinese Vice-Premier He Lifeng will deliver a special speech on Tuesday, promoting true multilateralism, an open world economy and inclusive global development to inject stability into the world economy. China's presence is a global hot topic. Guardian editors Heather Stewart and Dan Sabbagh wrote: "Though American power is significant, China and other developing countries continue to grow as a share of the global economy, meaning the long-term balance is slowly tipping away from the US." World Economic Forum event editorial head Sheikh Tanjeb Islam noted China's economic performance, innovation ecosystem and structural transformation draw growing attention.
Sacha Courtial, a China researcher at France's Institut Jacques Delors, said: "China could play the role of the ‘good student’ of international law, one that supports multilateralism." A forum report released Wednesday found half of surveyed participants expect the next two years to be “turbulent or stormy,” up 14 percentage points from 2025; 40 percent foresee at least “unsettled" conditions. Hong Kong sends a delegation, including HKEX chairman Carlson Tong Ka-shing and CEO Bonnie Y. Chan.
The US and EU share the world's largest bilateral trade and investment ties, accounting for nearly 30 percent of global goods and services trade and over 40 percent of world GDP.
