The World Economic Forum, the invite to which was projected as a coveted prize in the last three decades, has come to symbolize nothing but the unrestrained greed of the elite and their failure as saviors of humanity.
The global elite who enjoyed cracking business deals over wine and dine parleys every year in the Swiss Alps in Davos during the era of globalization have no vision for the post-Coronavirus world. They didn’t have any vision for the pre-Coronavirus world either but in the ongoing WEF, some of its frequent faces peddled the same old rhetoric on globalization and some even proposed the same egregious apologia for the corrupt global elite who have brought many of the 51 countries close to debt default.
Globalization, as envisioned by the WEF billionaires, has not only failed in ending poverty but it has normalized obscene opulence and plunder by the rich and increased inequality. The glamorous corrupt globalists arriving at Davos in their private jets and giving sanctimonious lectures about climate change and carbon emissions, makes their globalization formula look like a parody of itself. Since the coronavirus pandemic and the Ukraine war, the globalized world has been torn to pieces due to the disruption in supply chains. With 800 million people in the world without food to eat, most nations now have been looking inwards and trying to reduce dependence on other countries for their essentials.
Second, the global elite’s attempt at WEF to rescue the extremely corrupt regimes by proposing that the rich countries should write off the debt of 51 countries that are about to default, is more of the same snake oil that the globalists have sold since the last bastion of socialism, Soviet Union fell.
All debt is not equal in the world. While there are many countries with debt, but not everyone’s debt is a result of value-addition in their respective systems. While many countries have taken debt for advancing the welfare of their citizens but some have just taken it to plunder their own subjects.
Take, for example, Pakistan which is facing economic collapse despite 23 IMF loans in the last 75 years and despite the doles extended by the West for its war in Afghanistan. Notorious for corruption, Pakistan Army, misappropriated large chunks of it and diverted some of it to run its cost-effective cross-border terror operations to gain “strategic depth” against India. In the end, Pakistan became an epicenter of global terrorism and today with its economy collapsed, poor Pakistanis are seen fighting over an ounce of wheat flour. On the other hand, Sri Lanka’s debt is not the same as Pakistan’s. It defaulted for the first time in its history. The country’s economy largely driven by tourism had suffered badly during the coronavirus pandemic and rising energy prices.
Yet, the WEF elites are energetically lumping all debt-ridden countries together and advocating that the rich countries waive off their debt, knowing that such measures can be inflationary, especially at a time when the rich world is already struggling against inflation. Instead of proposing that the world must reward the countries which have worked hard, produced value for humanity, and alleviated poverty, the global elite is busy running propaganda to help highly corrupt members of their privileged club.
It is important that hardworking nations like India, see through the irrelevance and ineffectiveness of the WEF as a solution-oriented platform. The WEF globalists are at Davos only to save their own skin and the pretentious ivory towers they have created for themselves in a rapidly changing world order.