Leaders seek coordination amid rising geopolitical and economic headwinds

As geopolitical tensions rise alongside economic fragmentation and rapid technological change, global leaders are gathering in Davos, Switzerland, through Friday for the World Economic Forum's 56th Annual Meeting, with dialogue and coordination taking center stage amid growing calls for practical cooperation.

Themed "A Spirit of Dialogue", the forum brings together nearly 3,000 participants from more than 130 countries and regions, including around 400 senior government officials — the highest level of public sector participation in its history. More than 60 heads of state and government are expected, along with central bank governors and ministers responsible for finance, trade, foreign affairs and economic development.

Political leaders expected to attend include United States President Donald Trump, French President Emmanuel Macron, European Commission President Ursula von der Leyen and Chinese Vice-Premier He Lifeng. Around 1,700 business leaders will also take part, including nearly 850 CEOs and chairpersons from the forum's members and partners.

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Against what observers describe as one of the most complex international environments in decades, the forum is positioning itself as a platform for dialogue among countries and sectors whose interests increasingly diverge.

Juan Moscoso del Prado, a senior fellow at the Esade Center for Global Economy and Geopolitics in Spain, said Davos 2026 is "less about producing grand consensus and more about enabling coordination among groups of participants".

"In a context where tariffs, export controls and investment screening are increasingly used as instruments of statecraft, broad commitments to cooperation have limited impact unless they are linked to concrete mechanisms and deliverables," he said, highlighting the areas of technology governance and innovation.

Dialogue with the US is also expected to feature prominently, as governments and businesses seek clarity on Washington's economic and security policies after recent US military actions against targets in Venezuela and Trump's renewed push for Greenland.

"Uncertainty about US reliability now affects not only trans-Atlantic partners but also countries in the Global South that are reassessing their long-term strategic and economic expectations," Moscoso del Prado said, noting that Davos offers an opportunity for direct engagement to help reduce uncertainty.

For China, the meeting comes as Beijing continues to emphasize stability, development and openness amid global turbulence. Tom Harper, a China specialist at the University of East London, said recent developments have given China "a key role as a stabilizing force", a position that it is likely to underscore in Davos.

"With greater recognition of the role that the Global South will play in future growth, China is well placed to share its experience in development and industrial upgrading," Harper said. China's economic restructuring, which involved short-term adjustments earlier on, is yielding higher-quality growth, he said.

"These changes are making China a more attractive partner even for developed economies," he said, highlighting sustained high-level exchanges, including Canadian Prime Minister Mark Carney's recent visit to Beijing.

China's push toward greener energy and high-end manufacturing is also closely linked to its pursuit of greater resilience, he added."The success of Chinese electric vehicle companies and advances in artificial intelligence are symbolic of how China has moved up the global technology ladder."

More active role

Antonio Fatas, a professor of economics at the INSEAD business school in France, said the weakening of multilateral institutions and reduced US engagement in global governance have created space for other major economies to play a more active role.

"Given the retreat of the US from world institutions, this is the time for China to play that role," Fatas said, adding that while strategic competition with Washington will continue, Beijing can move to deepen cooperation with other regions, particularly Europe.

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Observers also stress the importance of strengthening multilateral mechanisms. Louis Brennan, fellow emeritus at Trinity Business School in Ireland, said institutions such as the United Nations and the G20 have been weakened in recent years and require renewed support.

China could help restore their central role in global cooperation and dialogue, offering an alternative to zero-sum thinking through its emphasis on win-win outcomes, Brennan said.

Strong participation from the Global South at Davos could help ensure development priorities receive greater attention, he said.

Contact the writers at wangmingjie@mail.chinadailyuk.com