As the 47th World Economic Forum annual meeting concluded in Davos, world leaders and the private sector showed cautious optimism about the global economic outlook for 2017.
The week started with the speech of Chinese President Xi Jinping, who promoted open and free trade and warned against protectionism.
While pledging to remain a “friend, neighbour and partner” to the EU, British Prime Minister Theresa May presented Britain as a fresh advocate for free markets, free trade and globalization.
German Finance Minister Wolfgang Schauble said that he and his colleagues would work relentlessly to reach an agreement that would limit damage to both Britain and the EU.
With significantly more members of Donald Trump’s cabinet having strong business experience than ever before, the prudent optimism at this year’s Davos forum may have reason to grow.
Perhaps the best indication of optimism at Davos, however, came from bank chiefs and analysts. The general consensus was that growth was positive everywhere in the world and that even sluggish regions, like Europe, were in recovery.