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The world economic forum is basically a Geneva-based international organization that focuses on working toward global operations on the major social and economic issues that increase global concern respectively. This European management forum comprises 193 countries in its member list and is also funded through them. Its annual meeting gave the global leaders a platform to promote their valuable interests in the context of overcoming any global concern. Furthermore, the organization is designed as an NGO by the Swiss federal government for the purpose of developing the unique institutional culture in the world.
Purpose of the world economic forum
The purpose of establishing the world economic forum is to provide a platform for resolving international conflicts in a smooth and collaborative way by engaging effective global leaders for the better future of the world. In addition, the world must act jointly to revamp all aspects of global concern as well. The significance of this organization is that it is an independent and impartial organization. Besides that, the forum sought to broaden the country’s vision regarding the global issues that help to solve the conflicts as well. Although the organization has no independent decision-making power, it seeks to influence powerful leaders in order to make effective decisions that benefit the global community.
World economic forum 2021
The world economic forum meetings help to introduce a number of new issues that have an ongoing impact on the global community and also ensure the working on those addressing issues through collaboration among countries. Each year the annual meeting has been held in different countries. The scenario of the 51st annual meeting has been quite different as it has been scheduled online due to the global pandemic impact. The meeting would be held in its headquarters respectively with approximately 2,500 people from 139 nations. The world press also covered the Davos meeting.
The world economic forum 2021 is hosted by the country Geneva on 20th December. In the context of the discussion, it can be stated that the forum would defer the annual meeting at Davos in Switzerland because of the uncertainty related to the outbreak of Omicron. It can be also stated that the annual meeting of the year 2022 has been scheduled to be held in Switzerland on the 17th- 21st of January.
The theme for this meeting considers the concept of the global economic, social and political order that must go through the Great Reset in the face of economic disruption through the global pandemic. Besides that, the great reset also generated various controversies as the implication of the agenda is not clear yet. The proposal also focuses on the wide-ranging reform of the central issues of various global inequities in resources, health and wealth that are achieved through cooperation only among the wealthier nations.
World economic forum headquarters and its initiatives
The world economic forum was founded in 1971 in Geneva as a not for profit organization by Klaus Schwab. It’s headquarter is cologny, Switzerland and also have offices in Tokyo, New York and Beijing. The forum is also founded as per the Swiss host-state act and designed by the Swiss federal government. 1,000 member companies and 139 countries have funded the world economic forum in its various initiatives that have helped to mitigate global issues respectively. Some of the initiatives taken by the forum are as follows:
On 19 January 2017, the world economic forum launched a global initiative for epidemics named coalition for epidemic preparedness innovations (CEPI). The aim of that initiative has been to foster more research on vaccine production and insurance of the supply of vaccines all over the global countries
The world economic forum also launched the fourth industrial revolution (4IR) in the same year with collaboration. The initiatives aimed to launch an earth bio-genome project for sequencing the genome of every organism on the earth.
Conclusion
From the above discussion, it can be stated that the world economic forum has played a significant role in addressing various global concerns effectively. As the forum provides a space for sharing opinions among global countries for this its institutional significance is also remarkable. Some criteria are also there in its membership process. On the other hand, by openly discussing world issues, world countries are also benefiting from a sustainable world.
