WEF to promote global cooperation as pandemic rages

The World Economic Forum's Davos Agenda event will take place virtually from Jan. 25-29 and is widely expected to bolster global cooperation in combating the COVID-19 pandemic and promoting economic recovery, reported Xinhua.

Under the theme "A Crucial Year to Rebuild Trust," more than 1,500 leaders from government, business and social organizations from more than 70 countries and regions will hold in-depth discussions on how to deal with the economic, environmental, social and technological challenges facing the world today.

REBUILDING TRUST

"Rebuilding trust and increasing global cooperation are crucial to fostering innovative and bold solutions to stem the pandemic and drive a robust recovery," the forum's official website quoted Klaus Schwab, founder and executive chairman of the forum, as saying.

This upcoming meeting, he added, will be "an opportunity for leaders to outline their vision and address the most important issues of our time, such as the need to accelerate job creation and to protect the environment."

The virtual meeting comes as the raging pandemic, in addition to claiming the lives of more than 2 million people, risks triggering widened long-standing health, economic and digital disparities.

Meanwhile, the World Bank warned the global economy could be heading for "a decade of disappointing growth outcomes" after the pandemic triggered one of the worst economic recessions in history.

The International Labor Organization said the outbreak has created a crisis in global labor markets and that the working time lost in the second quarter of 2020 is equivalent to 495 million jobs worldwide.

"We have to make all efforts to ensure that the gap of the advanced economies and the emerging economies is not becoming bigger as a consequence of the crisis," Schwab previously told Xinhua, calling for more attention to small and medium-sized enterprises that have been hit the hardest by the pandemic.