World Economic Forum (WEF)

World Economic Forum (WEF)

Acronyms

Short for WEF by AbbreviationFinder, World Economic Forum, has set itself the goal of sharing and dialogue on the development of the economy and promote social progress; Headquarters: Geneva. The foundation is supported by its members, which include the world’s 1,000 largest private companies and 200 smaller companies, mainly from developing countries. The WEF was founded in 1971 by the German economist Klaus Schwab (* 1938) Founded as the »European Management Forum« and in 1987 received its current name.

The annual meeting, attended by top managers from leading international corporations, top politicians, scientists and representatives of various associations and organizations, has been held in Davos since 1971 (New York in 2002) and serves to advise on problems and future developments in the world economy and world politics. The number of participants has increased steadily over the years.

Critics describe the forum of political and economic elites as a “club of the powerful and the rich” and a secret “world government” and have used the meetings in recent years to demonstrate against the economic, social and environmental consequences of globalization and the unjust world economic order.

World Economic Forum (WEF)

World Social Forum

World Social Forum, acronym WSF, Portuguese Fórum Social Mundial [- s ɔ.theta  al -] English World Social Forum [ wə ː ld sə ʊ ʃ l f ɔ ː rəm] international platform of the global justice movement, which originally called Counter-event to the annual World Economic Forum in Davos (Switzerland). The WSF is supported by an international network that sees itself as a global movement for solidarity, social justice and sustainable development and, in addition to non-governmental organizations, trade unions and parties, includes several hundred development policy initiative groups and numerous individuals (scientists, politicians, artists) worldwide.

The first three forums 2001 to 2003 and the fifth WSF 2005 took place in Pôrto Alegre, Brazil; The venue for the fourth WSF 2004 was Mumbai and the seventh WSF 2007 was Nairobi. New in 2006 was the decentralization of the WSF with the venues Bamako (Mali), Caracas (Venezuela) and Karachi (Pakistan). In 2008 there was a worldwide week of action, the ninth WSF 2009 took place in Belém (Brazil), the tenth WSF 2011 in Dakar. This was followed by the world social forums in Tunis in 2013 and 2015, in Montreal in 2016 and in Salvador da Bahia (Brazil) in 2018.

The self-image of the WSF is formulated in its charter adopted in Pôrto Alegre in 2001, described as a world process of dialogue and cooperation with the aim of developing and implementing alternatives to globalized capitalism (globalization) on a social, political and economic level.

G20

G 20, abbreviation for “Group of Twenty”.

An alliance of states founded in 1999 at the instigation of the USA to which the 20 largest economies in the world belong, that is, in addition to the G 8 (G-7 countries and Russia), Argentina, Australia, Brazil, China, India, Indonesia, Mexico, Saudi Arabia, South Africa, South Korea and Turkey. Another member is the European Union (EU), which represents the EU countries.

Two thirds of the world’s population live in the G 20 member countries and around 90% of the world’s gross domestic product is generated.

Other organizations also take part in the G20 meetings, for example the World Bank, the International Monetary Fund (IMF) and the United Nations (UN). The aim of the G20 is to strengthen the international economic and financial system and to find joint solutions to global problems.

G20, a forum founded in 1999 at the instigation of the USA for the further development of the international economic and financial system, to which the 20 largest economies in the world belong, in addition to the G 8 (G 7 countries and Russia; world economic summit) Argentina, Australia and Brazil, China, India, Indonesia, Mexico, Saudi Arabia, South Africa, South Korea and Turkey. Another member is the EU. Two thirds of the world’s population live in the member countries and around 80% of the world’s gross domestic product is generated. The more even regional and cultural distribution of the members gives the G 20 additional legitimation. Representatives of the IMF and the World Bank also take part in the talkspart. The founding meeting took place on 15./16. 12. 1999 in Berlin.

Under the pressure of the global financial market crisis in 2008, the influence of the emerging countries within the G20 grew: Since the G20 meeting in Washington in mid-November 2008, they have been involved as equal partners of the leading industrial nations in efforts to stabilize and reorganize the international financial system.

The G 20 meeting took place in Hamburg in July 2017. Climate protection and free trade, issues that the US administration under D. Trump were critical of, caused conflict. The political gathering was overshadowed by severe violent clashes by left-wing autonomous groups.