What Dominated the World Economic Forum

what dominated the world economic forum

Davos’s talking points The annual World Economic Forum, delayed from its normal winter date by Covid, has wrapped up. The high-profile conference, which draws leaders from government, business and nonprofits, has returned for the first time since coronavirus shut down the world — but in the midst of a war in Europe. DealBook was on hand, and here are our big takeaways: Executives are worried about a slowdown. Nearly every conversation with chief executives was dominated by how to handle rising interest rates, inflation and supply chain shocks, with the…

As China Doubles Down on Lockdowns, Some Chinese Seek an Exit

Clara Xie had long wondered whether she might leave China one day. She chafed at the country’s censorship regime, and as a lesbian, she wanted to live in a country more accepting of same-sex relationships. Still, the idea felt distant — she was young, and didn’t even know which country she would choose. The coronavirus, and China’s stringent efforts to stop it, thrust the question to the front of her mind. Two years of travel restrictions have made it impossible for Ms. Xie, 25, to see her girlfriend, who lives…

Your Thursday Briefing: Turkey’s NATO Block

Good morning. We’re covering Turkey’s move to stall NATO’s expansion, North Korea’s effort to follow China’s pandemic restrictions and China’s new tactic to censor online speech. Will Turkey block NATO’s expansion? Finland and Sweden formally asked to join NATO on Wednesday, heralding what could be the alliance’s biggest expansion in decades, and one that would increase its presence on Russia’s doorstep. But later in the day, Turkey, a NATO member, blocked an initial effort to move ahead quickly with the applications. Analysts said it was an attempt to squeeze out…

Economic Headwinds Mount as Leaders Weigh Costs of Confronting Russia

The interruption of wheat exports from Ukraine and Russia, which together account for 28 percent of global exports, along with supply chain disruptions, a severe drought in India that has caused it to ban shipments of grain and Covid-related lockdowns in China, are also causing food prices to spiral and increasing global hunger, particularly in Africa and the Middle East. The question for both American and European policymakers is how to corral leaping prices without sending their economies into recession. The Federal Reserve has begun raising interest rates to tame…

Shanghai Declares Victory in Covid Outbreak, but Lockdowns Continue

Shanghai health officials said on Tuesday that the city had brought the Covid outbreak there under control, after a nearly two-month lockdown that disrupted residents’ access to food and medicine, stoked widespread public outrage and brought China’s financial center to a standstill. At a news conference, officials pledged to restart normal life as soon as possible, with a goal of reopening fully by June. Some businesses, bus lines and parks had been allowed to resume operations on Monday. Twelve trains were also allowed to leave from Shanghai’s Hongqiao train station…

Your Tuesday Briefing: Russia’s Faltering Campaign

Good morning. We’re covering Russia’s struggling military campaign, Australia’s halting recovery from bush fires and a Covid-19 protest at Peking University. Russia scales back its charge east After a series of military setbacks, Moscow now appears to be focusing on a narrow objective: widening its holdings in Ukraine’s eastern region of Donbas. But even there Russia may be forced to scale back its ambition to take most of eastern Ukraine, according to the Institute for the Study of War. Russia still controls the wide swath of southern Ukraine it seized…

Students Protest Covid Lockdowns at Elite Beijing University

A group of students at a campus of China’s elite Peking University protested strict Covid-19 lockdown requirements on Sunday, arguing that the measures were poorly communicated and unfair. The government quickly moved to censor videos and photos that spread on China’s internet. The students were upset that they were unable to order food and that they were required to isolate, while teachers and their families were allowed to leave the campus freely, according to posts on a school forum and one student. The authorities tried to put up a wall…

The World Tries to Move Beyond Covid. China May Stand in the Way.

As the rest of the world learns to live with Covid-19, China’s top leader, Xi Jinping, wants his country to keep striving to live without it — no matter the cost. China won a battle against its first outbreak in Wuhan, Mr. Xi said last week, and “we will certainly be able to win the battle to defend Shanghai,” he added, referring to the epicenter of the current outbreak in China. But pressure is mounting for a change to the zero-Covid strategy that has left Shanghai at a standstill since…

As Shanghai’s Covid Cases Fall, China’s Restrictions Tighten

The Chinese authorities are tightening coronavirus restrictions in Shanghai and Beijing, heeding a message from the country’s top leader to double down on the zero-Covid strategy. In Shanghai, where residents have been under lockdown since April 1, private food delivery services were being suspended in some neighborhoods despite cases falling to a six-week low. Some residents were told not to step outside their homes, and that the government would help deliver groceries. In Beijing, where the daily case count rose to 74 on Monday, officials announced that schools would be…

A Coming Fall Surge?

Expecting a fall surge The Biden administration is preparing for the possibility that 100 million Americans will be infected with the coronavirus this fall and winter, according to an administration official. That’s lower than the number of Americans who were infected during the Omicron wave in December and January, but still amounts to roughly 30 percent of the U.S. population. Should that scenario play out, my colleague Sheryl Gay Stolberg reports, the administration’s goal is to prevent a spike in hospitalizations and deaths. One way that might be accomplished would…