for all defence aspirants world economic annual meeting 2019-NCA ACADEMY


Recently, The World Economic Forum Annual Meeting 2019 Ended With Discussions On Imminent Challenges Faced By The Global Economy, Including Climate Change ,Growing Inequality And Us-China Trade Tensions.

Key Points

This Year’s Theme Was Globalization 4.0, Which Includes A Strong Cultural Dimensions.

Globalization Is A Phenomenon Driven By Technology And The Movement Of Ideas, People And Goods. While Globalism Is An Ideology That Prioritizes The Neoliberal Global Order Over National Interests.

A Digital Declaration, Which Calls On Businesses To Respect The Privacy Of Digital Citizens; Handle Personal Data Securely And Transparently; Take Meaningful Steps To Mitigate Cyber Threats, And Ensure Everyone Can Participate In The Digital Economy As It Develops Whilst Combating Online Harassment, Was Signed In The Meet.

Waves Of Globalisation

Globalization 1.0 Was Pre-World War-I Globalization Which Was Launched By A Historic Drop In Trade Costs When Steam And Other Forms Of Mechanical Power Made It Economical To Consume Goods Made Far Away.

This Globalization Came With Almost No Government Support.

There Was No Global Governance.

Globalization 2.0 Is The Post-World War -Ii Phase Where Trade In Goods Was Combined With Complimentary Domestic Policies.

The Market Was In Charge Of Efficiency While The Government Was In Charge Of Justice.

Internationally, Globalization 2.0 Saw The Establishment Of Institute-Based, Rule-Based International Governance ,Specifically The UN, IMF ,World Bank ,GATT/WTO And Many Specialized Agencies Like The Food And Agricultural Organisation And International Labour Organisation.

Globalization3.0 Or Hyper-Globalization, As Termed By Arvind Subramanian Created A New World Of Manufacturing In Which High-Tech Was Combined With Low Wages. This Meant Factories Crossing Borders.

Globalization 4.0 Is A New Stage Of Globalization Which Involves Cutting -Edge Technologies Like Artificial Intelligence That Powers Forward With The Explosion Of Information Technology.

These Shrink Distances, Open Up Borders And Minds And Bring People All Across The Globe Closer Together.

World Economic Forum(WEF)

The World Economic Forum Is The International Organization For Public Private Cooperation.

The Forum Engages The Foremost Political ,Business And Other Leaders Of Society To Shape Global, Regional And Industry Agendas.

It Was Established In 1971 As A Not -For-Profit Foundation And Is Headquartered In Geneva, Switzerland.

Founder And Executive Chairman-Klaus Schwab.

Reports Published By Wef

The Global Competitiveness Report

The Global Report

The Global Gender Gap Report

Global Information Technology Report

Travel And Tourism Competitiveness Report

Inclusive Growth And Development Report