- Global crises will be many in 2023. Bold collective actions are needed. Leaders from government, business, and civil society will be addressing the state of the world and discussing priorities for the year ahead. Solutions through public-private cooperation must be found.
- Amplified global challenges from the COVID-19 pandemic have made Environmental, Social, and Governance (ESG) issues even more pressing for policymakers, boards, and executives. The four pillars of the Great Reset Plan are people, planet, prosperity, and governance principles. The greenhouse gas emissions must be lowered. Pay equality, and complete diversity goals must be met. Capitalism needs a new social contract to manage better the consequences of technology and an increasingly diverse and flexible workforce. Social contract benefits must provide security for all. We must help workers adapt to economic shocks and rising automation. We must achieve a more level playing field in taxing capital and labor. Workplace automation can help companies automate repetitive business processes and increase efficiency. Needing fewer workers due to automation will cause massive layoffs. These workers are collateral damage, the price of progress. An increase in automation, especially in service industries, will be an economic legacy of the pandemic. Lenin-Alinsky’s instruction is never to let a crisis go to waste. The New Left takes advantage of that instruction.
- The failings of modern capitalism have become familiar—inequality, insecurity, and lack of opportunity for those who start with disadvantages. COVID-19 and the ensuing global recession have exacerbated deep inequalities in society and pushed millions more into poverty. Environmental, social, and governance (ESG) reporting can help drive a shift to a new social contract based on public-private collaboration.
- .collective action and global cooperation. China’s economy is on its proper recovery track regarding exports, investment, and domestic consumption. America’s economy will spiral downward in 2023. America’s recession will be the tipping point for a 2023 global recession. Global food shortages will be spread across the globe. Migration numbers will explode. Anxiety about the world’s social and economic prospects is only intensifying. A sharp economic downturn has already begun. We are facing the worst global depression since the 1930s. The World Economic Forum leaders must act swiftly to revamp all aspects of our societies and economies. We must transform all industries. A Great Reset of capitalism must rapidly be put in place by the WEF. The Covid-19 pandemic will have serious long-term consequences for economic growth, public debt, employment, and human well-being. Global government debt is at its highest level in peacetime. Unemployment is skyrocketing in many countries.
- The International Monetary Fund expects the world economy to shrink more than 3% this year. This is a downgrade of 6.3 percentage points in just four months. Global inequalities are rising dramatically. The rich are getting richer, and the poor are getting poorer. Personal debt for the working poor has increased significantly. They are already getting slammed with unfairly high-interest rates on their debts. Around 2 billion people worldwide live in fragile and conflict-affected states. Those residing in weak markets such as Yemen, Somalia, and Sudan feel the painful effects of the global crises acutely. Millions of families cannot be sure where their next meal will come from. They have a large population of young people with few employment opportunities.
These dynamics result in food insecurity, public health crises, and social instability and hinder the pursuit of the UN Sustainable Development Goals (SDGs). Sustainable economic development in fragile states can be achieved by identifying n the country’s existing attributes, capacity, and talent. Sustainable and inclusive growth must be fostered from within the country. More than 2 million refugees have fled Ukraine since the Russian invasion began. The UN Refugee Agency has warned this number may reach 4 million in the coming days. More than 1.4 million refugees have arrived in Poland, with Hungary, Moldova, Slovakia, and Romania receiving more than 500,000. 13 million people have been displaced by the Ukraine war, with around half that number finding a haven in other European countries.