WEF chief Klaus Schwab. The world economy is forecast to grow 3.9% in 2018 while India is forecast to grow 7.4% this year, according to IMF. WEF chief Klaus Schwab said he wants “smart globalization” in which markets are kept open and that governments must strive toward social cohesion and address issues concerning terrorism. The WEF came into existence first as the European Management Forum for bringing together business leaders in Europe and the US. It changed its name to the WEF in 1987, making Davos the annual Mecca for the global economic, business and political elite.

Source: Mint January 23, 2018 15:22 UTC