Data from the World Bank shows that global trade of goods and services as a percentage of total economic output peaked that year.
A wooden sign on the waterfront of Lake Davos in Davos, Switzerland, on Jan. 8, 2023.
Just look to Italy’s new prime minister, Giorgia Meloni, who was installed in October.
Those skipping the gathering this year include US President Joe Biden, China’s Xi Jinping, Indian Prime Minister Narendra Modi, French President Emmanuel Macron and UK Prime Minister Rishi Sunak.
That raises questions about whether Davos can hang on to its reputation an essential event for the rich and powerful.