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World News January 20, 2024

Highlights from 54th World Economic Forum in Davos, Switzerland

The 54th World Economic Forum in Davos concluded with discussions on critical global issues. Despite efforts, no resolution or pathway to Palestinian statehood or an Israel-Hamas ceasefire emerged. Arab states indicated a reluctance to fund Gaza’s reconstruction without lasting peace. Ongoing conflicts, including the Israel-Hamas dispute and Red Sea ship attacks by Yemen’s Houthi group, were noted for impacting the Middle East’s economy. China’s Premier Li Qiang highlighted the nation’s openness to foreign investment. Concerns about AI technology’s uncertainties were expressed, with Salesforce CEO Marc Benioff emphasizing the desire to avoid an “AI Hiroshima.” Argentina’s President Javier Milei advocated for free enterprise capitalism, discussing the country’s debt with the IMF. Ghana aimed to re-engage with international bondholders, and global bank leaders addressed inflationary pressures and European bank consolidation. Over 80 national security advisers convened, leading to Switzerland offering to host peace talks, while Ukraine’s President Zelenskyy sought financing for reconstruction from bank leaders.

Source – CGTN

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