World Economic Forum - Explained
What is the World Economic Forum?
If you still have questions or prefer to get help directly from an agent, please submit a request.
We’ll get back to you as soon as possible.
- Marketing, Advertising, Sales & PR
- Accounting, Taxation, and Reporting
- Professionalism & Career Development
Law, Transactions, & Risk Management
Government, Legal System, Administrative Law, & Constitutional Law Legal Disputes - Civil & Criminal Law Agency Law HR, Employment, Labor, & Discrimination Business Entities, Corporate Governance & Ownership Business Transactions, Antitrust, & Securities Law Real Estate, Personal, & Intellectual Property Commercial Law: Contract, Payments, Security Interests, & Bankruptcy Consumer Protection Insurance & Risk Management Immigration Law Environmental Protection Law Inheritance, Estates, and Trusts
- Business Management & Operations
- Economics, Finance, & Analytics
What is the World Economic Forum?
The World Economic Forum is an organization that conducts yearly meetings for discussing serious issues involving political, social, economical, and environmental areas associated with the world. Its headquarters are located in Geneva, Switzerland.
What does the World Economic Forum Do?
The World Economic Forum includes members from the public and private sector, and further involve reputed CEOs, famous personalities, government officers, spiritual leaders, union representatives throughout the world. The WEF was established in 1971 with a mission revolving around the stakeholder theory. This theory states that even if it is the primary objective of the private sector to maximize its shareholders wealth, it is important for the firm to involve the remaining society in owning a stake or for participating in the company's operations. Stakeholders including customers, creditors, domestic and international community, and employees should receive the privilege to take company's decisions.
Funding of the World Economic Forum
The World Economic Forum funds itself from its own members that include pioneers in the industry having companies with an annual turnover of at least $5 billion and several celebrities, journalists, and other individuals who can pay expenses for attending meetings followed by annual dues. While regional meetings are organized in developing countries like Africa, Latin America, etc, the big yearly meeting takes place in Davos, Switzerland. World Economic Forum tends to bring in and discuss trending issues with its member nations and the general public. Further, they enable the evolution of agendas for public and corporate sector in order to take effective decisions in future. It conducts research into fields that are of huge importance for its members, and also motivates the amalgam of public and private sector, and efficacious communication among its member countries.
Annual meeting of the World Economic Forum
Every year, the World Economic Forum holds its official meeting in Davos, Switzerland. The meeting consists of around 2500 individuals belonging to different nations. The world press records every minute of this meeting. Davos meetings held in the past have made government leaders discuss political tensions with different countries, thereby increasing the status of the annual meeting to political and economic forum. Klaus Schwab (a professor of Business at the University of Geneva), the founder of WEF had a vision to aid countries in matters related to international tensions or conflicts followed by the encouragement of superior practices in global business management. Schwab works as the Executive Chairman for the WEF. Besides its headquarters in Geneva, the organization operates in New York, Tokyo, and Beijing. In 2017, it also opened another office in San Francisco. The title of the most recent meeting held in Jan 2018 was Creating a Shared Future in a Fractioned World.
- Trade Balance: Surplus and Deficit
- J Curve
- National Trade Data Bank
- Capital Account (Economics)
- Merchandise Trade Balance
- Current Account
- Income Payments
- Is it better to have a trade surplus or a trade deficit?
- Heckscher-Ohlin Model
- Linder Hypothesis
- The Balance of Trade as a Balance of Payments
- Supply and Demand Sides for Financial Capital?
- Flow of Capital
- Domestic Saving and Investment Determine the Trade Balance
- National Savings Identity and Trade Deficits
- How the Business Cycle Affects Trade Balances
- Trade Balance or Trade Surplus
- Comparative Advantage
- Absolute Advantage
- Specialization and Gain from Trade
- Absolute Advantage in All Goods
- Production Possibilities Frontier and Comparative Advantage
- Comparative Advantage and Mutually Beneficial Trade
- Opportunity Costs and International Trade
- Splitting Up the Value Chain
- How Economies of Scale Lead to Trading Advantages
- Closed Economy
- Import Quotas
- Double Column Tariff
- Infant Industry Theory
- Anti-Dumping Laws
- Non-Tariff Barriers
- Effects of Trade Barriers
- Who Is Benefited and Who is Harmed by Protectionism?
- Infant Industry Theory for Restricting Imports
- What is the Anti-Dumping Argument for Restricting Imports?
- What is the Environmental Protection Argument for Restricting Imports?
- Unsafe Consumer Products Argument for Restricting Imports?
- What is the WTO?
- What is the GATT?
- What are Free Trade Agreements?
- North American Free Trade Agreement
- Central European Free Trade Agreement
- General Agreement on Free Tariff and Trade (GATT)
- Common Market
- Common Market for Eastern and Southern Africa
- Central American Common Market
- Caribbean Community and Common Market
- What are Economic Unions?
- International Monetary Fund
- World Economic Forum
- Inter-American Development Bank
- Davos World Economic Forum
- Chamber of Commerce
- Jackson Hole Economic Symposium