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WEF meet ends with the hope for “Fourth Industrial Revolution”

WEF meet ends with the hope for “Fourth Industrial Revolution”

The 5-day annual jamboree of the world’s rich and powerful came to a close in Davos with the hope for “Fourth Industrial Revolution”.

The theme of the 46th edition of the WEF was ‘Mastering the Fourth Industrial Revolution’.

The concerns raised at the meet were:

  • Economic headwinds from China
  • Geo-political risks arising from the refugee crisis in Europe
  • Terror attacks in various parts of the world
  • Economic uncertainties
  • Geo-political worries in Middle East & East Asia
  • Lower-trending commodity prices as a result of oil prices and
  • Asynchronous monetary policies around the world.

The way out suggested:

  • CEOs should turn away from short-term thinking and narrow concerns of shareholder gains and instead take bold steps to improve workers’ conditions, promote diversity and take a wider stakeholder perspective.
  • IMF Chief Christine Lagarde called for a change in the way GDP is calculated in the wake of the emerge of various new sectors and business landscapes.

India & WEF

  • With regard to India, the leaders at the World Economic Forum (WEF) exuded confidence that its growth story would continue and the country would consolidate its position as the ‘bright spot’ of the world.
  • They felt that it will further accelerate with the ease of doing business
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