June 18, 2021

The World Forum in Davos, cheaper than ever

The World Forum in Davos, cheaper than ever



The World Economic Forum in Davos begins tomorrow with notable absences from the political sphere, which will give greater prominence to the assistants of the economic plane, among which are the Minister of Economy Nadia Calviño, or the presidents of Santander, Ana Botín, and of BBVA , Carlos Torres Vila.

The absence of the British Prime Minister, Theresa May; the French president, Emmanuel Macron; or the US president, Donald Trump, joins the low profile of other presidents, such as Angela Merkel already in retreat.

Neither will Russian president Vladimir Putin or Chinese Xi Jinping be in the Swiss Alpine town, which in 2017 became the first president of the Asian country to attend the Davos Forum and declined to attend in 2018.

On the verge of celebrating its half century of life, in 2020, in this edition, which bears the slogan "Globalization 4.0: The fourth industrial revolution", attendees will try to clarify whether globalization is still an effective system or whether the emergence of new Technologies based on artificial intelligence have transformed the world as we knew it.

Among the attendees this year include the ministers of Economy, Nadia Calviño, and Industry, Reyes Maroto, as well as the presidents of Santander, Ana Botín, and BBVA, Carlos Torres Vila.

Also, BBVA Strategy Director, José Manuel González-Páramo; the presidents of Ferrovial, Rafael del Pino; Iberdrola, Ignacio Sánchez Galán; Acciona, José Manuel Entrecanales; Amadeus, Luis Maroto; Disa and Damm, Demetrio Carceller; the CEO of Repsol, Josu Jon Imaz, and the Vice President of Iberostar, Gloria Fluxá.

Another habitual one is Javier López Madrid, CEO of the Villar Mir Group, whose recent problems with the courts – sentenced to six months minus one day for the use of "black" cards by Caja Madrid and on the bench for the IPO Bankia- does not prevent you from going to your appointment with Davos on time.

Among the representatives of investment banks include Bank of America presidents, Brian Moynihan; Goldman Sachs, David Solomon, or the CEO of JP Morgan Chase, Mary Callahan, as well as the president of UBS, Axel Weber, who may be able to find time to clarify with Ana Botín the details of the failed bank transfer of Andrea Orcel Spanish.

Likewise, the most important representatives of investment companies are the Carlyle Group (David M. Rubenstein), or Blackstone (Stephen Schwartzmann).

The Secretary of the Treasury of the United States, Steven Mnuchin, who debuted in the last edition, has canceled his participation this year in the forum, although he initially intervened in a round table with the president of the New York Stock Exchange (NYSE), Stacey Cunningham.

The managing director of the International Monetary Fund, Christine Lagarde, participates in several meetings, one of them with Bono, the singer of U2, and will coincide with the governor of the Bank of Japan (BoJ), Haruhiko Kuroda.

Although the "brexit" keeps Theresa May very busy, the British economy minister, Philip Hammond, the Bank of England governor, Mark Carney, or the Barclays president, John McFarlane, will be in Davos.

And among the finance ministers, those from Germany stand out, Peter Altmaier; France, Bruno Le Maire; Holland, Wopke Hoekstra; Portugal, Pedro Siza, and Italy, Giovanni Tria.

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