How Davos lost its mojo

This year, the cognoscenti who came to the World Economic Forum did so against an uncomfortable backdrop

The World Economic Forum is losing steam.
(Image credit: FABRICE COFFRINI/AFP/Getty Images)

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The global elite descended this week on the Swiss Alps for the annual World Economic Forum at Davos, said Andrew Ross Sorkin at The New York Times. But this year, the cognoscenti who came to sip pricey cocktails and snack on caviar over high-minded discussions about the world's biggest challenges did so against an uncomfortable backdrop: rising nationalism and economic populism that they "largely failed to anticipate — and may have even unconsciously generated." Just as in years past, this year's forum — whose attendees included Microsoft founder Bill Gates, JPMorgan Chase CEO Jamie Dimon, and Chinese President Xi Jinping — focused on the belief that "globalization has the potential to benefit everyone." But it was hard to ignore the fact that the events of 2016, from Brexit to the election of Donald Trump, amounted to a stunning "rebuke" of everything Davos regulars stand for.

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