Davos 2022 – what just happened?

Davos 2022 was a meeting of many firsts. Our first Annual Meeting in the Alpine spring, the first physical one since the outbreak of COVID-19, the first since the invasion of Ukraine, and the first meeting of global climate leaders since COP26.

The economy

Economics experts also discussed the global economy, with David M. Rubenstein explaining the link between recession and bananas (yes, bananas).

On Wednesday, Gita Gopinath said the war had been a ‘major setback’ to the recovery from the COVID-19 pandemic but Kristalina Georgieva reminded us that the world has dealt with “unthinkable crisis after unthinkable crisis” and yet we remain resilient. “The next chapter must focus on building resilient people – backed up by education, health and social protection”, she said.

We also talked about debt, inflation, wages and global trade – including Israeli Isaac Herzog telling us about the trade advantages of the Abraham Accords.

Two crises: Food and energy

Food and energy security and two crises linked to the war in Ukraine were also high on the agenda this week.

Fatih Birol told us on Monday that it was the first truly global energy crisis, while on Wednesday Dmytro Kuleba warned that we face a multi-year food crisis if things don’t change.

Health matters

Pfizer’s announcement wasn’t the only time we touched on health this week.

The ongoing impact of the COVID-19 pandemic was central to many discussions and we also talked about how to prepare for the next pandemic, and how to address mental health and health equity.

About E. J. McKay

E.J.McKay is a Shanghai-headquartered investment bank with a special focus on mergers & acquisitions. We are one of the most long standing independent investment banks in China, with core business of mergers & acquisitions and financing advisory.