LONDON: As world leaders, business giants and policymakers gathered in Davos, Switzerland, on Monday for the opening of the 55th annual meeting of the World Economic Forum, all eyes were on Washington, where Donald Trump was inaugurated for his second term.
This dual spectacle highlighted the contrast between two seemingly opposing worldviews: Trump’s doctrine of “America First” and the WEF’s globalist vision of “Collaboration for the Smart Era.”
The timing of Trump’s inauguration, on the forum’s opening day, seemed almost poetic. Experts have noted the symbolic clash between the Davos elite, often described as the architects of a “new world order”, and Trump’s unabashed populism.
“Thank you to the World Economic Forum for having us, but above all for showing an exquisite sense of humor by asking us to say what will happen in the Trump administration,” said Sam Jacobs, editor in head of Time magazine. ” joked during the forum’s first panel, titled “First Impressions: Inauguration Day.”
This year’s conference invites participants to explore ways to address common challenges such as climate change, technology and economic inequality through global collaboration. Yet, as economics writer Kate Andrews observes, it’s “an idea that doesn’t mean much if the world’s largest economy – and leader in the development of AI – isn’t on board.”
Indeed, Trump’s policies are expected to deviate radically from the multilateralism championed by the WEF. He has already signaled a return to “America First” economics, with an emphasis on trade protectionism and other barriers, which are likely to ripple through the global economy.
Added to this is its close alignment with US technology leaders, including Meta CEO Mark Zuckerberg, Tesla and X owner Elon Musk, and OpenAI CEO Sam Altman. Their collective support suggests that the new Trump administration will take a less regulated approach to technological innovation, particularly in the area of artificial intelligence, moving away from the more cautious frameworks championed by former President Joe Biden and the WEF.
“I think the race for technology is going to play a key role in this economic conversation,” Mina Al-Oraibi, editor-in-chief of the Emirati newspaper The National, told the panel, highlighting Trump’s likely focus on fighting technology. China’s influence in the fields of technology and economics. trade.
Yet not all experts view Trump’s policies as a radical departure from those of his predecessor. Patrick Foulis, foreign editor of The Economist, noted that Trump’s strategies could echo some elements of Biden’s economic doctrine.
“Trump, in a sense, represents continuity, and in a sense he is actually the intellectual author of Biden’s policies. But I think we have very, very strong reasons to doubt his ability to execute this kind of strategy over an extended period of time,” he said during the panel.
The goal, according to Foulis, is for Trump to “exert more influence over the global economy,” relying less on incentives and more on coercive measures like debt manipulation, tariffs and controls technological.
In what some see as an olive branch, WEF President and CEO Borge Brende said Donald Trump plans to deliver a 45-minute video speech to the forum on Thursday.
The complex relationship between Trump and the WEF remains a study in contrasts. Even though Trump’s “America First” doctrine appears to run counter to the WEF’s globalist philosophy, its presence – or lack thereof – consistently attracts attention.
Despite ideological differences, Trump’s influence remains too great for the forum to ignore. Its central role in mediating the recent ceasefire in Gaza underlines its relevance on the global stage.
“We meet here in Davos as a ceasefire is finally in place in Gaza and after a terrible and devastating war lasting more than 15 months. It changed the region and, in some ways, the world. And Trump 2.0 actually facilitated the ceasefire,” Al-Oraibi said, adding that the “Trump factor” was instrumental in reaching a deal that the Biden administration failed to achieve. to conclude.
“Trump has clearly said there must be a ceasefire before the inauguration. And this moment crystallizes what people expect under the Trump administration. “It comes with many lessons from his first stint in the White House, but also lessons learned about what may be possible in the Middle East.”
Over the past year, the Middle East has seen seismic changes, including the diminishing influence of Hezbollah in Lebanon and the fall of Bashar al-Assad’s regime in Syria. Experts predict that while Trump’s foreign policy will in some ways build on Biden’s, the emphasis will be more on targeted economic strategies rather than broad hegemonic goals.
“I see the Trumpian agenda essentially as a more complete and stronger expression of American power over a much more limited geographic scope,” Foulis said.
While Trump’s foreign policy appears increasingly selective and driven by economic interests rather than purely hegemonic ambitions, Al-Oraibi believes that the Middle East will remain at the heart of American priorities, especially as the attention to Gaza and Palestine shows no signs of waning.
“The fact that the ceasefire was put in place just before Donald Trump’s inauguration shows that they realize that this is not something they want to hang over their heads at the first day, but it’s a long way to go,” she said, adding that the administration may want to take advantage of this momentum to reach a solution to the Palestinian question and possibly promote a two-way solution. States.
“What is clear is that the United States remains the most important superpower,” she said. “Yet there are still so many things that can go wrong. »
In addition to foreign and economic policy, the panel also explored how the new Trump administration might handle energy and climate issues, two pillars of the forum’s discussions. Although a rollback of Biden’s green policies is expected, experts say the energy transition has become too entrenched to be completely reversed.
“If for Trump, this energy transition can be reframed as a nationalist cause, so something that benefits the American economy, I don’t think he will oppose it,” Jacobs said.
As speculation mounts around the implications of Trump’s return to the Oval Office, many experts warn that the lessons of his first term may only partially apply this time around.
What is certain, according to Jacobs, is that a Trump 2.0 presidency promises to be “200 times more unpredictable and more volatile than the first term,” emphasizing that the real focus should be on “points of tension that emerge” rather than on specific subjects. policies.
For the WEF, Trump’s presence presents both challenges and opportunities. As the world grapples with interconnected crises, Davos prides itself on providing a platform for critical dialogue. The stakes are high, however, and Trump’s return to power adds yet another level of complexity to an already transformative moment in world history.
