World Economic Forum: Switzerland loses an important business meeting to Singapore



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For several hundred years, the Swiss have grown accustomed to the fact that catastrophes miraculously stop at their national borders. No matter how bad the situation was elsewhere: in the Alps you could ski undisturbed in the winter of 1944. Those with tuberculosis traveled to Davos to recover; Anyone who wanted to conduct sensitive diplomatic negotiations would find security and discretion in Geneva. And those who just wanted to increase their wealth found bankers across the country who did it so quietly that tax investigators at home didn’t notice.

However, the crown pandemic has upset the image of a crisis-proof Switzerland. In these autumn weeks, peaceful mountain villages became the pinnacle of the European infection scene. Hotspots in Geneva, Schwyz, Nidwalden and Zurich also caused irritation as those responsible in Bern were hesitant to take action. While a new blockade has been declared in many other European countries, Switzerland relies on personal responsibility: the small cantons, the citizens, must essentially decide for themselves how much caution they consider appropriate. The Berne Federal Council also justified this strategy with an economic consideration: one could not afford to close ski areas and sales areas. So prefer more infections and more deaths.

Singapore instead of Davos

In recent days the myopia of this approach has been demonstrated. Switzerland is temporarily losing one of its most important magnets: the World Economic Forum (WEF) in the canton of Graubünden, which has been relocated in both time and place for 2021, until a scant meeting was planned a few days ago in Lucerne in may. The meeting is traditionally held in January in remote Davos, where tuberculosis patients were treated in the early 20th century.

But in view of the high incidence, politicians and CEOs have little desire to book a flight to Zurich or Geneva. And that’s why a completely different location is now winning the race: the wealthy city-state of Singapore, south of Malaysia. The pandemic has been under control since the summer. The reason for this are strict measurements like those taken in many Asian countries: temperature measurements, mask requirement, full contact tracing.

The Swiss, and many other Europeans, realize after a long time that these requirements have not only served the health, but also the economy of the country.

And that’s despite numerous warnings. In early November, 60 Swiss economists spoke, calling for a second lockdown in light of the rapidly rising numbers, not out of concern for people with previous illnesses, but out of financial considerations. He says:

“The aspect that is often overlooked is that in a situation where the virus spreads rapidly (as in Switzerland today with relatively mild measures), health risks lead to preventive measures and even panic reactions, that also make a normal economic life impossible. “

The undersigned were convinced that the dichotomy between business and health, which was often raised, did not exist; on the contrary, those who did not resolutely stand in the way of the pandemic would have to fear a disadvantage.

The forum will address the pandemic in 2021

The organizers of the World Economic Forum seem to view it very similarly. Several Swiss newspapers reported that the founder of the WEF, Klaus Schwab, observed with great anger the “laissez-faire attitude” of the country; after all, it was important to Schwab that the newly elected president of the United States, Joe Biden, also participate in the forum. . The 78-year-old politician is known for his great caution.

The search for a new location brought Schwab to Singapore. Last week, when this news leaked in Switzerland, politicians and businessmen reacted with alarm. In particular, there were protests around Lucerne, where the May forum had already been installed. But it was too late.

On Monday it was announced that the World Economic Forum will take place in Singapore in 2021. The theme of the meeting has to do with the pandemic: “The Great Reboot” wants to use the crisis as an opportunity for a great new start.

“The pandemic has created a rare and narrow window of time in which there is an opportunity to reflect, rethink and realign our world,” said Schwab, founder of WEF. It is quite possible that a new location in Asia will adapt to this new beginning.

In Switzerland, where some journalists are now seeing a third wave of pandemics, they don’t want to hear about great new beginnings in other parts of the world. Instead, everything is expected to remain the same and that the country can regain its role as a safe haven in a troubled world. In Graubünden, at least, a newly elected Social Democratic Landammann is already working towards the year 2022. Then the rich and powerful should return to Davos.

Icon: The mirror

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