professor klaus schwab, always a pleasure having you join me. thanks for your time, klaus. let's start well, let's start with the biggest challenges for the global economy as you see them right now, because i'm just wondering if there's one or two in particular that perhaps keep you awake at night? no, unfortunately, i would say four main challenges or even five, keep me up at night. so first one, of course, is the horrible war which we see in ukraine, the action of russia on ukraine and all its repercussions and the implications which are far reaching. and for this reason we have given to the annual the title history at the turning point. but we also are at the tail end of the covid pandemic, which was the biggest global health disaster for the last 100 years. we have the global economy with great concerns because it's a global economy and we may speak later about it is certainly out of balance. and some we have if i add a false issue, we have see global warming and preserving nature. and this is also an issue where we cannot wait. i add a fifth one, which is, let's say, t

it's the most significant, according to klaus schwab. the forums found it. we've got these problems of global supply chains. again, like we saw in the pandemic pick now because of the war in ukraine. energy prices that are shooting up inflation, which is got people wide all around the world. also food security, 25000000 tons of grain, a stuck in ukraine right now and can't get out. the only thing that continues to flow is the oil. and that's what zalinski has a big problem about because it's funding the war in ukraine for the russians. he wants an oil embargo, he wants a ban on all banks. he doesn't want the i t sector profiting any more. and he also wants no trade. what so ever and he knows he can get that from people here in davos . it's a tricky one though because it's an economic balancing game. that was the devil. he's been for julian reporting from davos in switzerland, a guy here, some of the other stories making news around the world. this our turkish prison, wretched type at a one says he will no longer speak to the greek prime minister there to wan

it's the most significant, according to klaus schwab, our, the forums, founder. we've got these problems of global supply chains. again, like we saw in the pandemic big now because of the war in ukraine. energy prices that are shooting up inflation, which is got people wide all around the world. also food security, 25000000 tons of grain, a stuck in ukraine right now and can't get out. the only thing that continues to flow is the oil, and that's what zalinski has a big problem about because it's funding the war in ukraine for the russians. he wants an oil embargo, he wants a ban on all banks. he doesn't want the i t sector profiting any more and he also wants no trade. what so ever. and he knows he can get that from people here in davos a. it's a tricky one though, because it's an economic balancing game that was our very own been facility reporting from dub of switzerland. here are some of the other stories now that are making headlines around the world. an unfinished shopping ball in southwestern, iran has collapsed kili, at least 5 people. officials in the cit

i want you to take a listen to what wif founder, klaus schwab. what he said about that very topic earlier today, take a listen, says voice severely, a timing point of history and the rid of the shape of political and all economic landscape insur coming. yes, audrey also a talent off. so most serious health kept us though, fee of sir last 100 years. so future is not just happening sir. future is built by us by a powerful community, as you here in says who we have to means to improve society. so, so road but to conditions unnecessary. so 1st one is said we act all as stakeholders or financial communities said re self, not only self interests, but reserves the community sets what recall stakeholder responsibility and 2nd, cedric will elevate in a bed plows swab there. he's telling us, yes, the pandemic in the warren ukraine. they have shaken all of our assumptions about the global order. that also means that globalization may not be a given anymore. and if that's the case, what purpose does the world economic forum have moving forward and meet the m

schwab, what he said about that very topic earlier today. take a listen says small is severely atomic point of history and the rid of the shape of political and our economy landscape insur coming years . but we also, it's a tail end off. so most see the us health catastrophe of sir last 100 years. so fuel traditional just happening sir, futures built by us by a powerful community as you here in says who we have some means to improve society so. so road but to conditions unnecessary. so 1st one is said we act all as stakeholders or financial communities, said resale for not only self interests, but reserves to community sets. what recall stakeholder responsibility. and 2nd said, we collaborate. no big plows swab there. he's telling us, yes, the pandemic in the warren ukraine. they have shaken all of our assumptions about, you know, global order. that also means that globalization may not be a given anymore. and that's the case. what purpose does the world economic forum have moving forward? i mean, the movers and shakers there in davos where

it's the most significant, according to klaus schwab, the forums founder. we've got these problems of global supply chains. again, like we saw in the pandemic pick now because of the war in ukraine. energy prices that are shooting up inflation, which is got people wide all around the world. also food security, 25000000 tons of grain. a stock in ukraine right now and can't get out. the only thing that continues to flow is the oil. and that's what soleski has a big problem about because it's funding the war in ukraine for the russians. he wants an oil embargo, he wants a band on all banks. he doesn't want the i t sec to profiting any more. and he also wants no trade. what so ever. and he knows he can get that from people here in davos. it's a tricky one though. because it's an economic balancing game. yeah. and he wants things to be absolute. for example, there are no russians present at the shears world economic forum. how significant is there? that's extremely significant. every year that been more and more russians coming here on russia house opened a few

good luck with everything, professor klaus schwab. while some of the richest people discussed the big problems affecting many of us in davos, what is the effect on living standards around the world? jobs are arguably the most important thing in determining those living standards. jonas prising, from manpower group, what are the biggest challenges in the employment market at the moment? you are seeing a continued very strong labour market across the world where we have bounced back from the difficulties during the pandemic and in most parts of the world we are now back to the employment levels we saw before the pandemic. the supply of labour... why? very strong surge for the in products and services. some of the effect your scene with very high wage inflation compared to what we have been used to for the last 20 or 30 years at least, that will take time to normalise but we think a lot of this is related to the pandemic effects that we experience. the pandemic effects that we exnerience-_ the pandemic effects that we exerience. , ., .,

schwab and asked him what he saw as the biggest challenges facing the world economy. u nfortu nately i unfortunately i would say four main challenges or even five keep me up at night. the first one of course is the horrible war which we see in ukraine and all its repercussions and implications which are far—reaching and for this reason we have given the meeting the total history at a turning point, but we are also at the tail end of a pandemic which was the biggest global health disaster for the last hundred years. we have the global economy with great concerns because the global economy, and we may speak later about it, is certainly out of balance. and if they add a fourth issue, we have the global warming and preserving nature. and this is also an issue where we cannot wait and also i add a fifth one which is, let's say, the impact of all the new and disruptive technologies like artificial intelligence. in technologies like artificial intelligence.— technologies like artificial intelliaence. ., intelligence. in your opinion, as the war — intelligence. in your

anyhow, so the world economic forum and klaus schwab, who is the founder of the world economic forum has penned on the world economic forum web page we forum.org don't take my word for it go there and read it yourself and agenda called the great reset in and in the world economic forums claus schwab's own words. they want to take this pandemic because they see it as a once in a lifetime opportunity and use it to bring about broad changes not just in america, but around the world, but america is the stumbling block to some of these changes that the great reset vision has in store for us and and one of the agendas that the world economic forum has in store is to the definition of capitalism because here in america we have the free market system and businesses are in business to make money, right? it's profit versus loss that decides the success or failure of a business. well the great reset has a new form of capitalism. they talk about it. be more in line with what china does and they call it stakeholder capitalism versus shareholder capitalism and stakeholder capitalism opens the door

schwab. allah schultz spoke for half an hour, and it was a very sweeping speech touching on all world regions and many topics ranging of course from the rushes war in ukraine to globalization. d, globalization, climate change, food security, global health. i touched on a large number of issues of following this speech, fried the german chancellor. i have with me in the studio, julia sel. deli, are political correspondent and on the ground in davos, switzerland ben for sewland. he's been following proceedings there all along since the forum got under way. better like to start with you of which we heard all of sholtes really spent a lot of time talking about issues not related to ukraine. what he did begin, of course with ukraine, and that is foremost on everyone's mind right now. are saying that sir, history is at a turning point your, your response been to, to all of shelves to speech. but still for you. yeah. bosa cow slab and all of so it's talked about this being a watershed moment. it's what all i feel it's also said to the parliament just 3 days into the war. he was very quick on

in the world economic forums klaus schwab's own words they want to take this pandemic because i see it as an opportunity to use it and bring about brad, changes not just in america but around the world. america is a stumbling block to some of these changes that the great reset vision has on store for us. one of the agendas at the world economic forum hasn't store is to change the definition of capitalism. because, here in america, we have the free market system and businesses are in business to make money, right? it's profit versus law that decides the success or failure of a business. well, the great reset has a new form of capitalism. they talk about it being more aligned with what china does, calling it a stakeholder capitalism versus shake older capitalism. stakeholder capitalism opens the doors for businesses to be rated failures or successes based on the social justice agenda as that they promote, that they get in line with. and that they find. this is why you have, in large part, it will cut corporate culture out there. a lot of these businesses that are pushing social justice e