During his tenure, Schwab became widely known as a staunch supporter of common ties and interdependencies.
He argued that global cooperation was essential to address complex problems specified as climate change, inequality and technological disruption.Over the years, he turned the yearly gathering in Davos into 1 of the most celebrated platforms in the world.
The Swiss village gradually became a permanent point of the global calendar in January erstwhile political leaders, general directors and stars met to discuss the programme for the coming year.Under Schwab's leadership, WEF gained influence, but besides met with criticism.
The organization was accused of eliteism and deficiency of contact with wider social concerns.Schwab predicted a reaction against globalisation long before Donald Trump won the 2016 election and the UK vote to leave the EU the same year.
Both events are widely seen as signs of increasing discontent with the global economical system.In a 1996 opinion article, which he co-authored for the global Herald Tribune, Schwab warned: "A increasing consequence to the effects of (globalisation), especially in industrial democracies, threatens a very destructive impact on economical activity and social stableness in many countries"."These democracies have a sense of helplessness and anxiety, which helps explain the emergence of the fresh brand of populist politicians" “He added.Peter Brabeck-Letmathe, erstwhile Nestle CEO and current vice-president of the WEF, was appointed interim chairman, while the recruitment committee begins the process of electing a permanent successor, announced the organization.
Translated by Google Translator
Source:https://www.rt.com/business/616075-klaus-schwab-quits-wef/
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