World at a critical inflection point, 2025 a year of enormous consequence: WEF President

Davos: The world is at a critical inflection point and 2025 will be a year of enormous consequence, Borge Brende, President and CEO, World Economic Forum (WEF), has said, highlighting the need for new pathways to greater cooperation in an era of heightened geopolitical uncertainty.

Speaking at what he described as “one of the most uncertain geopolitical and geoeconomic moments in generations,” Brende told a gathering of global leaders that the longstanding international order that existed for the last three decades has receded.

“We need to find more effective ways to work together. It is the only way forward,” he stressed.

Klaus Schwab, the founder of World Economic Forum (WEF) urged ‘constructive optimism’, urging stakeholders from all sectors – government, business, civil society and academia – to unite in crafting solutions to shared challenges.

“This transition from the Industrial to the Intelligent Age is occurring at an exponential pace, carrying unprecedented risks for humanity as we strive to prepare and adapt for its complexities,” he said.

“Yet, it also offers significant opportunities to transcend our current challenges and spark a new renaissance – one defined by advancements in knowledge, health, culture and societal welfare,” added Schwab.

Reflecting on the changing world order, Ursula von der Leyen, President of the European Commission, outlined Europe’s plan to adapt to a new era of “harsh geostrategic competition” by increasing its competitiveness, strengthening global partnerships and maintaining its commitment to sustainable development.

“To sustain our growth in the next quarter of the century, Europe must shift gears,” she said. “We should not take anything for granted. We must look for new opportunities wherever they arise. This is the moment to engage beyond blocs and taboos. And Europe is ready for change.”

German Chancellor Olaf Scholz called for renewed commitments to security and prosperity in the face of global challenges, emphasising that partnerships serve as the “engine for successful economic development.”

He highlighted plans to reform German public debt regulations to strengthen domestic growth and emphasised Europe’s need to strengthen its defence capabilities and industrial base.

As the war in Ukraine nears its third year, Volodymyr Zelenskyy, President of Ukraine, urged Europe to solidify its position as a leading global power.

“Europe needs to compete for the top spot in priorities, alliances and technological development,” Zelenskyy stated. “We need a united European security and defence policy, and all European countries must be willing to spend as much on security as is truly needed.”

—IANS