On May 24, the World Economic Forum will be hosting a 3-day conference in Jordan, focusing on the Middle East and North African regions. Citing immense potential for growth through the leveraging of existing resources, economic leaders from around the world will be coming together in order to figure out how to help struggling nations find greater success. Co-chairs include Jin-Yong Cai, the Executive Vice President and CEO of the International Finance Corporation, and Ibrahim S. Dabdoub, Group CEO of the National Bank of Kuwait.
Since 1971, the World Economic Forum (originally the European Management Forum) has prided itself on being “tied to no political, partisan or national interests,” seeking only to “better the world” by improving economies all around the globe. As a non-profit institution, it expanded from focusing solely on socioeconomic issues to cover political ones as well, after the abandonment of the Bretton-Woods system and other chaotic global events occurred in the Forum’s first several years of existence.
Prospects for economic improvement have seen many opposing leaders come together through the World Economic Forum in order to work through political differences for mutual benefit. Notable meetings include those between Greece and Turkey, North and South Korea, leaders of both East and West Germany, as well as the President of South Africa and Nelson Mandela; the last pair marked “their first joint appearance outside South Africa and a milestone in the country’s political transition.”
The upcoming meeting will have three main objectives: Partnerships for Employment, Entrepreneurship and Infrastructure; Strengthening Economic Governance; Advancing Regional Cooperation and Resilience. The first goal seeks to figure out ways in which youth and the unemployed can find their ways into the global work force, bringing with them their fresh ideas and enthusiasm for building something long-lasting. The second recognizes the need to ensure that every country has a fair economic referee who can make sure the rules of the game are enforced appropriately, thereby ensuring the best possible circumstances for growth and competition. The final objective is tol protect economic gains once they are made; if there is no regional instability or threats from outside forces, then there will be fewer distractions from the construction of a thriving economy.
Through its annual conference in Davos and its regional efforts to apply targeted assistance where necessary, the World Economic Forum is working hard to live up to its self-imposed responsibility of bettering the world. With staff representing over 56 nations, and the same director who founded the organization over 40 years ago, Klaus Schwab, the Forum has a wide foundation and an experienced captain with which it can continue to help all nations around the globe in the improvement of their economies.
— Jake Simon
Source: World Economic Forum
Photo: Wikimedia Commons