22 January, 2018
Today, Davos attracts several thousand attendees, ranging from heads of state and business executives to policy makers and celebrities, for nearly a week's worth of workshops, speeches and discussions that focus on a central theme, 2018's being "creating a shared future in a fractured world".
During his 2016 election campaign, Trump blamed globalisation for ravaging American manufacturing jobs as companies sought to reduce labor costs by relocating to Mexico and elsewhere. "Besides, there will be scope for pull asides, details of which are being worked out", he said.
However, President Trump will meet with French president Emmanuel Macron, who has already welcomed President Trump to Paris where he was well received by crowds and dined with Mr. Macron and his wife. Both ardent defenders of multilateralism and liberal democratic values, they are expected to lay out the counter-argument to Trump's "America First" policies.
Prime Minister Narendra Modi today said he will share his vision for India's future engagements with the worldwide community during his Davos trip, as he sought "serious attention" of world leaders on existing and emerging challenges to the contemporary global systems.
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Trump has railed against the USA trade deficit with China, hobbled the World Trade Organization by blocking judicial appointments, pulled out of the Trans-Pacific Partnership trade talks and antagonized Canada and Mexico by demanding a revamp of the North American Free Trade Agreement. He has backed off withdrawing from a USA trade agreement with South Korea and while he has threatened to terminate NAFTA, he has yet to do so. "We're now beginning to see the steps that are being taken", Ramaphosa said.
Stating that India's economy is growing rapidly and it has been recognised by the world, including all rating agencies, Modi said Davos is a "good opportunity" for the country as it is a big market with the strength of demographic dividend. "While in theory the relationship between imports, trade deficits, and employment and growth could be positive or negative, in practice in the United States, rapid import growth and larger trade deficits have been associated with faster employment growth", the authors note. May was among those critical of Trump's actions. He is to discuss the issue during his State of the Union address to the US Congress on January 30. We [might be] below investment grade but we are hopeful.
"I think Cyril Ramaphosa should be in South Africa. But if there is, there is", he said.
Mick Mulvaney, director of the Office of Management and Budget, said at a press briefing on Saturday that a final decision hasn't been made on whether Trump will travel as planned, given the federal government shutdown that began overnight.