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…

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…

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…

Putin’s War on Information Is Far From Over

The info war has also reached Asia, Africa and South America, where Russia has mobilized diplomats and state-controlled media like the global RT network to press its case. The goal isn’t necessarily to win support, but to keep unaligned countries on the sidelines. While some countries, most notably China, have taken Russia’s side, others, like India, have avoided antagonizing Russia so as not to lose Russian military or energy contracts. Many others have done so simply because they know and care little about Ukraine. Russia’s line to them is that…

Japanese premier warns of Ukraine-style invasion by ‘autocratic powers’

Boris Johnson and Japanese prime minister Fumio Kishida have warned that the invasion of Ukraine could be replicated in east Asia if democratic powers do not stand up to autocratic ones. “Ukraine may be east Asia tomorrow,” Kishida said on Thursday during a visit to London, as he called for Indo-Pacific leaders to recognise that the invasion of Ukraine was not just a European problem. Asked about the implications for Taiwan, he said: “We must collaborate with our allies and like-minded countries, and never tolerate a unilateral attempt to change…

Xinjiang cotton found in Adidas, Puma and Hugo Boss tops, researchers say

Researchers say they have found traces of Xinjiang cotton in shirts and T-shirts made by Adidas, Puma and Hugo Boss, appearing to contradict the German clothing companies’ promises to revise their supply chains after allegations of widespread forced labour in the Chinese region. Recent reports have suggested more than half a million people from minority ethnic groups such as the Uyghurs have been coerced into picking cotton in Xinjiang, which provides more than 80% of China’s and a fifth of the global production of cotton. The US banned cotton imports…

Your Thursday Briefing: A Ban on Russian Oil?

Good morning. We’re covering the E.U.’s plan to ban Russian oil, growing U.S. frustration with the politicized Supreme Court and a separatist movement in Pakistan. The E.U. may ban Russian oil With no end to the Ukraine conflict in sight, the European Union took a major step on Wednesday toward weakening Moscow’s ability to finance the war, proposing a total embargo on Russian oil. If approved this week as expected, it would be the bloc’s biggest and costliest step yet toward supporting Ukraine and ending its own dependence on Russian…

Beijing orders ‘stress test’ as fears of Russia-style sanctions mount

Concerned about sweeping Russia-style sanctions from the west, Beijing has ordered a comprehensive “stress test” to study the implications of a similar scenario for its economy, the Guardian has learned. According to a person with direct knowledge of the matter, an extensive exercise began around late February and early March when western allies imposed unprecedented sanctions against Moscow. Several key Chinese government agencies – from banking regulation to international trade – have been asked to come up with responses if the west imposed the same embargos on to China. “Those…

Russia Wants to Sell More Energy to Asia, but Has to Slash Prices

BEIJING — Last year, the Grand Aniva, a Russian tanker with four spherical tanks for holding ultracold liquefied natural gas, sailed back and forth between a gas field in eastern Russia and depots in Japan and Taiwan. But two days after Russia invaded Ukraine, the ship switched routes, sailing to China instead. The voyages of the tanker, which is as long as three football fields, underlined that President Vladimir V. Putin of Russia can still find buyers in Asia for his country’s fossil fuel exports despite Western sanctions. He needs…

Russia-Ukraine war: UN evacuation under way from Mariupol steelworks; Pelosi dismisses fears of provoking Russia – live

From 51m ago United Nations evacuation under way from Mariupol steelworks A UN operation to evacuate civilians from the Azovstal steelworks in Mariupol is under way, a spokesperson has confirmed. Officials reached the factory on Saturday, and the exercise is being coordinated with the International Committee of the Red Cross, Ukraine and Russia. According to Reuters, the UN’s Saviano Abreu added that further information was not being shared to ensure the safety of evacuees. It’s believed about 1,000 people are at the site. Updated at 09.50 EDT Kate Connolly The German…

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