EDEN IAS

NEWS IMPULSE -THE GREAT RESET| 27 JANUARY

<p style=”margin-bottom:11px”><span style=”font-size:11pt”><span style=”line-height:107%”><span style=”font-family:Calibri,sans-serif”><b>Why in News?</b></span></span></span></p>

<p style=”margin-bottom:11px”><span style=”font-size:11pt”><span style=”line-height:107%”><span style=”font-family:Calibri,sans-serif”>The Great Reset is an initiative by the World Economic Forum. The plan explores how countries might recover from the economic damage caused by the coronavirus pandemic.</span></span></span></p>

<p style=”margin-bottom:11px”><span style=”font-size:11pt”><span style=”line-height:107%”><span style=”font-family:Calibri,sans-serif”><b>What is the theory?</b></span></span></span></p>

<p style=”margin-bottom:11px”><span style=”font-size:11pt”><span style=”line-height:107%”><span style=”font-family:Calibri,sans-serif”>&bull; It has been conceptualized by the founder and executive chairman of the WEF, Klaus Schwab, and has evolved over the last few years.</span></span></span></p>

<p style=”margin-bottom:11px”><span style=”font-size:11pt”><span style=”line-height:107%”><span style=”font-family:Calibri,sans-serif”>&bull; It is based on the assessment that the world economy is in deep trouble and the situation has been made a lot worse by many factors, including the pandemic&rsquo;s devastating effects on global society, the un- folding technological revolution, and the consequences of climate change.</span></span></span></p>

<p style=”margin-bottom:11px”><span style=”font-size:11pt”><span style=”line-height:107%”><span style=”font-family:Calibri,sans-serif”>&bull; Schwab demands that &ldquo;the world must act jointly and swiftly to revamp all aspects of our societies and economies, from education to social contracts and working conditions. Every country, from the United States to China, must participate, and every industry, from oil and gas to tech, must be transformed. In short, we need a &lsquo;Great Reset&rsquo; of capitalism.</span></span></span></p>

<p style=”margin-bottom:11px”><span style=”font-size:11pt”><span style=”line-height:107%”><span style=”font-family:Calibri,sans-serif”>&bull; The agenda of The Great Reset touches on many key issues facing the world, Some of them are:</span></span></span></p>

<p style=”margin-bottom:11px”><span style=”font-size:11pt”><span style=”line-height:107%”><span style=”font-family:Calibri,sans-serif”>&bull; question of reforming capitalism:&nbsp; It is calling for &ldquo;stakeholder capitalism&rdquo; that looks beyond the traditional corporate focus on maximising profit for shareholders.</span></span></span></p>

<p style=”margin-bottom:11px”><span style=”font-size:11pt”><span style=”line-height:107%”><span style=”font-family:Calibri,sans-serif”>&bull; focus on the deepening climate crisis</span></span></span></p>

<p style=”margin-bottom:11px”><span style=”font-size:11pt”><span style=”line-height:107%”><span style=”font-family:Calibri,sans-serif”>&bull; growing difficulty of global cooperation that Davos wants to promote.</span></span></span></p>

<p style=”margin-bottom:11px”><span style=”font-size:11pt”><span style=”line-height:107%”><span style=”font-family:Calibri,sans-serif”><b>The Controversy Involved: </b></span></span></span></p>

<p style=”margin-bottom:11px”><span style=”font-size:11pt”><span style=”line-height:107%”><span style=”font-family:Calibri,sans-serif”>The right sees the WEF arguments about restructuring the global economy as a dangerous attempt to impose &lsquo;socialism&rsquo; and dismantle the traditional society, or what remains of it.</span></span></span></p>

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