World Economic Forum 2026: Promise, power, and the question of the Global South |
The World Economic Forum (WEF) annual meeting, scheduled to open on 23 January 2026, once again places the Swiss town of Davos at the center of global economic and political debate. For over five decades, the forum has served as a high-profile platform where world leaders, corporate executives, academics, and civil society representatives gather to discuss the most pressing challenges facing the global economy. Yet, as the world confronts widening inequality, geopolitical fragmentation, climate stress, and uneven development, a critical question persists: does the WEF genuinely serve the interests of the Global South, or does it primarily reinforce the priorities of the Global North?
A brief history and purpose of the WEF
The World Economic Forum was established on 24 January 1971 in Geneva by German economist Professor Klaus Schwab. Originally known as the European Management Forum, its initial aim was to help European companies improve management practices by engaging with American corporate models. Over time, the forum evolved into a global institution, rebranded as the World Economic Forum, and expanded its scope far beyond corporate management.
The WEF defines itself as an independent, not-for-profit international organisation committed to improving the state of the world through public-private cooperation. Its core objectives include fostering dialogue between governments and businesses, shaping global and regional agendas, promoting inclusive economic growth, and addressing transnational challenges such as poverty, climate change, technological disruption, and global security. Its significance lies not in formal decision-making power since it is not a treaty-based body but in its agenda-setting capacity and ability to convene influential........