Davos is increasingly criticised for being a meeting for the elite to debate inequality and diversity. Who better than the well healed to discuss inequality, right? This is the place where a fleet of fuel burning private jets congregate to discuss climate change; and where the world’s biggest corporations and the world’s leading politicians meet to address problems that they probably caused in the first place.

Still Davos remains a focal point each year and probably the most important event for anyone looking for insight in how the global economy works. The fact that it happens in January adds to its allure as a beacon for the rest of the year.

This year, the theme is vectoring towards an axis of power defending international trade and ‘America First. Donald Trump will arrive today, but the US has already fired its parting shot.

This week for the first time ever I have heard a US Treasury secretary state that he is happy with a weak dollar, all in the name of trade. I will be surely looking forward for Donald Trump’s speech tomorrow.

There will always be the usual rhetoric though as most participants will say that they are:

· Against climate change

· In favour of economic growth

· Against income inequality

· In favour of women’s right, etc…

If one had to look for the actual reason why Davos still exists, you would be hard pressed to find much that is actually related to the forum’s objectives. Davos still exists because for a few days each year it becomes the centre of global power. Anyone that matter will be in Davos this week. The fact that business and political leaders have access to each other for a few day makes Davos the place to be.

Finally what remains after everyone has gone home is all that has been concluded in the back rooms and the occasional comment that sticks despite the passage of time. I have taken the liberty to quote some of my favourite below.

“You can always go faster than you think you can” - Meg Whitman, Hewlett Packard Enterprise CEO

"No difficulty, however daunting, will stop mankind from advancing. When encountering difficulties, we should not complain about ourselves, blame others, lose confidence or run away from responsibilities. Instead, we should join hands and rise to the challenge. History is created by the brave." - Xi Jinping, president of the People's Republic of China

"Goals are only wishes, unless you have a plan." - Melinda Gates, co-chair of the Bill and Melinda Gates Foundation

"When you encourage folks and you have willing people that are dedicated, look at what you can do. Look at Uber, look at what they did. Look at the unlikely candidate — Apple, they were not in the phone business, they changed phones forever.

"The same thing could happen to folks that were always left behind. As soon as you push them, you give them the tools: 'Poof!' Watch what happens." - will.i.am, musician

"Since the industrial revolution, we've been living under this delusion that burnout is necessary to succeed, that human beings can minimize downtime the way we try to do with machines.

"When, in fact, scientists will tell us that the human operating system needs downtime. We need time to unplug, to recharge, sleep deeply.” - Arianna Huffington, Thrive Global founder and CEO

"Throughout history, progress happens when ordinary women and men come together and decide to become the change that they want to see in the world." - Forest Whitaker, actor and UNESCO special envoy for peace and reconciliation

"Good teachers teach. Great teachers transform and they can really be drivers of change, not just in schools but across society." - Queen Rania Al Abdullah of the Hashemite Kingdom of Jordan on the global development outlook in 2013

“Speed is the new currency of business” - Marc R Benioff, Chairman and CEO, Salesforce

“The biggest impediment to a company’s future success is its past success” - Dan Schulman, CEO, PayPal Inc

“There are no jobs on a dead planet” - Sharan Burrow, General Secretary, International Trade Union Confederation

Disclaimer:

This article was issued by Antoine Briffa, Investment Manager at Calamatta Cuschieri. For more information visit, www.cc.com.mt. The information, view and opinions provided in this article is being provided solely for educational and informational purposes and should not be construed as investment advice, advice concerning particular investments or investment decisions, or tax or legal advice.