Global inequality, geopolitical tension headline World Economic Forum as Trump returns to Davos

The annual meeting of the World Economic Forum (WEF) opens on Tuesday in Davos, Switzerland, drawing nearly 3,000 leaders from business, government and civil society for four days of discussions on a crowded global agenda. U.S. President Donald Trump will make his third appearance at the Alpine gathering, joining corporate chiefs, policy-makers and advocates who are confronting widening wealth disparities, new strains in the international order and escalating public mistrust of institutions.

Focus on “A spirit of dialogue” amid sharper global competition

Forum organizers have adopted the motto “A spirit of dialogue” for the 2026 edition. Sessions will address topics that include the widening gap between rich and poor, the effect of artificial intelligence on jobs, tariff disputes that have disrupted long-standing trade relationships, and a perceived erosion of trust both within and between nations. Mirek Dušek, a managing director responsible for programming, said delegates will debate whether the world is in a transition period or has already entered a “more competitive, more contested landscape.”

The discussions come at a moment when geopolitical competition has intensified. U.S. allies have voiced unease over Trump’s bid to purchase Greenland, his administration’s pursuit of Venezuelan oil assets and the president’s confrontational stance toward Federal Reserve Chair Jerome Powell. Bilateral meetings on those and other issues are expected in private rooms throughout the Davos Congress Center.

Trump leads largest U.S. delegation on record

The U.S. delegation is the biggest ever sent to the forum and includes about half a dozen Cabinet secretaries. Trump is scheduled to deliver a keynote address on Wednesday, with housing and affordability listed as headline themes. White House officials say the president will also outline the goals of a proposed “Board of Peace” for Gaza, which the administration plans to announce shortly.

Trump’s presence has energized supporters who favor his pro-business approach and tax policies, while drawing protesters critical of Washington’s role in global conflicts and economic inequality. Demonstrators marched into Davos over the weekend behind banners reading “No Profit from War” and “World Economic Failure,” charging that the meeting favors wealthy elites over the broader public.

European Union and China open the marquee stage

The opening day lineup underscores the broader contest for influence. European Commission President Ursula von der Leyen will speak Tuesday morning, followed immediately by China’s Vice Premier He Lifeng, described by organizers as Beijing’s current economic chief. Their back-to-back appearances frame a schedule that will feature dozens of national leaders, including the presidents of Argentina, France, Indonesia, Syria and Ukraine.

This year’s forum is also notable for the absence of Klaus Schwab, who founded the event 55 years ago and stepped down in April. Leadership now rests with co-chairs Larry Fink, chief executive of BlackRock, and André Hoffmann, vice chair of Roche. They will oversee sessions attended by roughly 850 chief executives alongside figures from entertainment and advocacy, such as actor Matt Damon and first-time participant Jensen Huang, chief executive of semiconductor designer Nvidia.

Wealth gap widens; public trust recedes

Ahead of the meeting, advocacy group Oxfam released an analysis showing that billionaire wealth grew by more than 16 percent last year—an increase of roughly $2.5 trillion—to exceed $18 trillion. The report, which draws on Forbes data on the world’s richest individuals, says the gain could eradicate extreme poverty 26 times over. Oxfam notes that billionaire fortunes have surged by more than four-fifths since 2020, while nearly half of the world’s population continues to live in poverty. The organization attributes part of that growth to U.S. policies it labels “pro-billionaire,” including tax reductions for high earners and limits on efforts to levy higher taxes on large corporations.

Calls for governments to impose steeper taxes on the ultra-wealthy and restrict their lobbying power have intensified as new data point to rising discontent. The 2026 Edelman Trust Barometer—based on responses from nearly 34,000 people in 28 countries—finds that fears of trade disruptions and recession have reached an all-time high. The survey reports that respondents increasingly trust company chief executives and local communities over political or institutional leaders; nearly 70 percent believe business and government figures deliberately mislead the public.

Corporate storefronts, national pavilions line the Promenade

Inside Davos, technology, consulting and security firms have set up branded spaces along the town’s main street, the Promenade. Microsoft, India’s Tata Consultancy Services, social media company TikTok and cybersecurity provider CrowdStrike are among the corporations showcasing products and strategies. National delegations from Nigeria, Qatar and Ukraine have established promotional pavilions, while a United States “USA House” appears for the first time.

Imagem: imagem internet 26

Local shop owners typically rent their storefronts to visiting organizations during the week, turning the pedestrian zone into a marketplace that competes for attention alongside the official WEF program. Critics argue that the spectacle underscores the distance between elite decision-makers and ordinary citizens left out of global growth, a gap further highlighted by the presence of high-profile investors and the absence of grassroots activists inside the main venue.

Protesters challenge Swiss political support for WEF

Outside the security perimeter, Swiss left-wing groups have organized rallies condemning what they describe as the country’s complicity in promoting corporate and military interests. Demonstrators fault Swiss officials for, in their view, courting “warmongers and profiteers” by actively supporting the summit. Organizers of the marches say they expect additional actions throughout the week as world leaders arrive.

Artificial intelligence dominates business attention

Artificial intelligence remains a central topic, with sessions exploring its impact on employment, regulation and the long-term possibility of artificial general intelligence. Many delegates are expected to focus on policy frameworks for AI deployment, reflecting investor enthusiasm that contributed to outsized gains in technology equities last year. Nvidia’s Huang, whose company designs critical AI chips, will appear on multiple panels examining supply-chain constraints and the ethical dimensions of advanced computing.

The spotlight on AI intersects with the broader debate over inequality. Analysts note that soaring valuations of AI-related stocks have delivered large gains to existing shareholders, reinforcing the trend highlighted in the Oxfam study. Forum participants will examine whether new policies can ensure that productivity benefits are shared more widely across economies.

Testing the promise of dialogue

With the global economy undergoing structural shifts and geopolitical rivalries intensifying, the WEF’s stated aim of “improving the state of the world” faces scrutiny. Delegates will attempt to convert panel discussions and bilateral meetings into concrete initiatives, from easing trade tensions to setting standards for emerging technologies. Skeptics, pointing to years of lofty promises, question whether this year’s emphasis on dialogue will translate into measurable results.

As heads of state, corporate executives and activists converge on the snow-covered resort, attention will center on whether the forum can narrow the trust gap documented by surveys and whether leaders can address the inequality underscored by new wealth figures. Trump’s keynote on Wednesday is set to be a focal point, offering a high-profile test of the meeting’s capacity to foster genuine exchange among stakeholders with diverging interests.

Crédito da imagem: Associated Press