Catenaa, Monday, January 19, 2025- BlackRock CEO Larry Fink is set to warn global leaders this week that capitalism is facing a growing legitimacy crisis, as the World Economic Forum opens its annual meeting in Davos amid rising public distrust and populist pressure.
World leaders, corporate executives, and civil society figures are now in Davos, Switzerland, for the 56th annual World Economic Forum, with discussions focused on war, trade, economics, and emerging technologies. The gathering takes place from 19th January to 23 January.
President Trump is expected to attend with a large delegation, including Treasury Secretary Scott Bessent and Middle East envoy Steve Witkoff.
Analysts anticipate the forum will address Russia’s ongoing war in Ukraine, tensions surrounding China and Taiwan, and potential instability in the Middle East following recent unrest in Iran.
Fink, serving as interim co-chair of the forum, plans to tell executives and policymakers that the global economic system has delivered strong growth while leaving large segments of society behind.
He is expected to question whether the debates held in Davos resonate beyond the Alpine resort, as inequality and skepticism toward elites intensify worldwide.
Still, Fink is expected to acknowledge that many people most affected by decisions discussed at the forum are not present and often feel excluded from its outcomes.
Fink is framing artificial intelligence as a central test for modern capitalism.
He argues that while vast wealth has been created over recent decades, its benefits have flowed mainly to a narrow group.
He is likely to caution that AI could repeat this pattern by disrupting white-collar employment in ways similar to how globalization reshaped blue-collar work.
The comments come as Davos faces renewed scrutiny over its relevance, particularly as populist movements challenge established institutions and global cooperation.
