U.S. President Donald Trump will again be centre of attention in the coming week with any policy statements, having helped put the Federal Reserve, Bank of England and other central banks in wait-and-see mode. Ciara Lee reports. Continue reading
Davos, Switzerland – Jan 17, 2017 (CCTV Plus News) – Small and medium enterprises in developing countries should take part in globalization when facing the challenges brought by it, said Alibaba founder Jack Ma.
European stocks and bond yields tumble and the dollar hits a six-week low after U.S. President Donald Trump began his term in office with a protectionist speech that pushed a nervous market into safe-haven assets. Ciara Lee reports Continue reading
As the US moves from a ‘post-truth’ election to post-Trump inauguration, markets ponder an uncertain future for the world economy. Ivor Bennett canvasses analysts on what they expect to emerge from the new president’s first months in office. Continue reading
Music star and a UNICEF Goodwill Ambassador Shakira talks about her campaign for early child education at a meeting held at the sidelines of World Economic Forum in Davos, Switzerland.
Wilbur Ross, President-elect Donald Trump’s choice to run the Department of Commerce, has a long record of outsourcing American jobs, counter to Trump’s message o protecting US jobs as a candidate. Andy Sullivan reports. Continue reading
Chinese President Xi Jinping offered a vigorous defense of globalisation and free trade in a speech at the World Economic Forum in Davos on Tuesday. As Ivor Bennett reports, it underscores Beijing’s desire to play a greater global role as the United States turns inward. Continue reading
The world needs global trade, open markets and fair competition, not protectionism, says the World Economic Forum’s Philipp Roesler, a former German economy minister.
SHOWS: DAVOS, SWITZERLAND (JANUARY 16, 2017) (REUTERS) – Global cooperation, open markets and free trade are the key to success in the world’s economy, not protectionism, said the World Economic Forum’s (WEF) board member Philipp Roesler on Monday (January 17).
Speaking to Reuters Television ahead of the official opening of the annual meeting in Davos, Roesler, a former German economy minister, said “we do see a trend towards more protectionism.”
“From our point of view we need a strong stance in terms of global trade, open markets, free trade and fair competition.”
“The solution cannot be that politicians are focusing more and more on a national level, because then, the globalisation of the business will be out of any control or regulation.”
Roesler said “the best way is global cooperation, … the purpose of this year’s annual meeting.”
His remarks came shortly before German Finance Minister Wolfgang Schaeuble issued a warning to U.S. President-elect Donald Trump over the dangers of protectionist trade policies.
Asked whether the WEF’s importance was shrinking due to the absence of German Chancellor Angela Merkel, French President Francois Hollande and Canadian Prime Minister Justin Trudeau, Roesler said “for the first time we have the Chinese president here at the World Economic Forum and this at a time when in the United States and many other countries the focus is more domestic.”
“We understand this as a great signal to have the Chinese president here to discuss the world economy and the necessity for a world economy.”
The WEF’s annual meeting begins on Tuesday, Jan. 17, with Chinese President Xi Jinping speaking in the morning.
Sterling skids to its lowest levels – bar a “flash crash” in October – in 32 years on Monday, hit by fears that Prime Minister Theresa May will say on Tuesday that Britain is set for a “hard” Brexit out of the EU and its single market.
Just eight individuals, all men, own as much wealth as the poorest half of the world’s population, Oxfam said on Monday (January 16) in a report calling for action to curtail rewards for those at the top. Jacob Greaves reports. Continue reading