The summit of the G7 economic and social summit, which will take place from October 29 to November 4 in Davos, Switzerland, is taking place at a time when the global economy is on the verge of its worst economic downturn since the Great Depression.
It will be the largest gathering of finance ministers, business leaders, policymakers, and academics in the world.
The summit will have the effect of a watershed event for global capitalism, according to Mark Gershon, the director of the Center for Strategic and International Studies.
The summit has been dubbed the “economic summit of all time.”
Gershon, who has written a book on the topic, argues that the economic summit is “a key moment” in the history of capitalism and the globalisation of capital.
Gersheyn argues that, given the economic and political uncertainty that the global capitalist order is experiencing, the summit is an opportunity for the world to get its head around what the future might hold.
This summit, with its large numbers and high-stakes nature, will offer a rare opportunity for international leaders to work together on a common agenda.
And it is the only summit of its kind to be held at Davos.
This is a great opportunity to start working together on some serious problems, including the crisis, that will define the post-industrial age.
And we have to have a common perspective.
Geringhoff argues that it is important to start with the idea that the economy is the engine of our prosperity.
He writes: In the years since World War II, the globalised economy has transformed from an economy based on industrialisation to a globalised sector of the economy.
It has enabled economies to take on many different forms, from a national economy to a multinational one, and from a small and highly productive sector to a large and highly interconnected one.
The rise of globalisation has created new markets, new industries, new technologies, new labour markets, and new social and political systems, all of which have reshaped how we live, work, and play.
We need to be clear about what is at stake in this summit.
It is the beginning of the next great economic and globalisation experiment, the next period of unprecedented transformation that will determine how the world works and what happens to it.
This summit is a major opportunity for economic and international leaders.
Galsheyn writes that this economic summit will not only allow for a new and more inclusive approach to globalisation, but will also give a crucial signal that this is not the time for the status quo.
It means that globalisation can be transformed, and that the world can be rebuilt.
This time, the world will see a new, far more inclusive global order, in which it is not just the big global corporations that can be counted on to deliver jobs and prosperity, but also the millions of small, locally-owned businesses, small, local-owned cooperatives, small- and medium-sized enterprises, small cooperatives and small enterprises.
The economic summit of Davos is a pivotal moment for the globalist agenda that Gershoff is arguing for.
And in this new global order that Davos will provide a crucial opportunity for a different kind of global capitalism.
As Gershoven writes, Davos can help us make sure that the very notion of globalism is abandoned.
Davos offers a critical opportunity for globalism to return to its rightful place as a way of life.
The globalist idea that “the market is the solution” has been abandoned.
In the past, globalisation was seen as a response to a crisis in the manufacturing sector and a globalisation that was driven by the needs of the wealthy and the needs for a global political order that could protect them.
In the 1980s, the neoliberal era of deregulation, privatization, deregulation, and globalization, the notion that globalism could be a way out of this crisis was abandoned.
Today, global capitalism is seen as the ultimate solution to the problems of global poverty, inequality, and injustice.
GERSHON argues that Davo will be an important test of this globalisation.
In his view, the financial crisis that started in the US in 2008 has been a global disaster, a global failure that threatens to bring about a global economic collapse.
In Davos Davos represents a chance to finally put an end to the neoliberal model of globalising, and to create a new order that is more just and inclusive.
GESHON explains that Davopolsky, the Russian banker who has been the key architect of the economic strategy of the US, is “unusually open to new ideas”.
The Russian banker, Gershunin, has spoken about the importance of the Davos summit for a return to globalism and capitalism, and for an alternative economic strategy that has no links to the political, economic, or social institutions of the West