The Davos elite like to make bold predictions. But they don't always get them right
Publishing timestamp: 2023-01-13 06:27:35
Summary
The World Economic Forum in Davos, Switzerland, is an annual meeting where global business leaders, politicians and economists make predictions and set agendas for the year ahead. In recent years, predictions have been mixed, with some being accurate and some not. For example, Citigroup CEO Jane Fraser predicted a recession in Europe in 2022, but the region has so far avoided one. Billionaire investor George Soros warned of a nuclear war between the US and North Korea in 2018, but this has not happened yet. Cryptocurrency FTX collapsed in 2022, despite predictions of success. Jeff Schumacher predicted that the price of Bitcoin could sink to zero in 2019, but it has since reached levels well above those of four years ago. German Finance Minister Olaf Scholz predicted a trade deal between the US and EU in 2020, but this has not yet been achieved. Credit Suisse denied reports of replacing their CEO in 2022, but he stepped down in July.
Sentiment: MIXED
Keywords: davos - world economic forum, united states, europe news, economic events, politics, switzerland, joe biden, ukraine, citigroup inc, north korea, russia, business news, davos, economy, credit suisse group ag,
Source: https://www.cnbc.com/2023/01/13/wef-2023-the-davos-predictions-that-did-not-work-out.html