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World Economic Forum in Davos Aims to Pull Economy Out of Stagnation

© AP Photo / Michel EulerWorld Economic Forum in Davos
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The five-day of the World Economic Forum entitled "The New Global Context" in the Swiss ski resort of Davos will be attended by 2,500 heavyweights from governments and businesses.

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MOSCOW, January 21 (Sputnik) — Dozens of world leaders and heads of businesses will travel to the Swiss ski resort of Davos for an annual meeting of the World Economic Forum (WEF) on Wednesday, in the hope of freeing the global economy from stagnation.

The five-day forum entitled "The New Global Context" will explore outlooks for a world economy, facing cross-currents. Some 2,500 heavyweights from governments and businesses, dubbed the one percent, will attend workshops and hold speeches to restore confidence, as the global economy continues to slow down.

International Monetary Fund chief Christine Lagarde, who is attending, said the stakes could not be higher for policymakers flocking to the alpine resort for the Davos summit conference as "2015 promises to be a make-or-break year."

Financial power-brokers and heads of state are expected to look into big themes, like dropping oil prices, deteriorating cybersecurity, rising unemployment, the failure to contain the Ebola outbreak and ways to pull the planet from the brink.

Forum participants will be protected by an equal, if not greater, number of security personnel who have been positioned all over the area a day before the start of the forum. Anti-globalization campaigners have pledged to hold massive protests on the opening day, arguing that the summit has long since lost its relevance for the world.

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