Klaus Schwab Says We Are at a Moment of Economic 'Transformation'

Looking at the global economy in the year ahead, the chairman and founder of WEF said what many view as an economic crisis currently is actually an “economic transformation” that will have lasting impact. “When we speak about a crisis, we have the feeling of coming back to the old situation once the crisis is successfully overcome,” said Schwab. “We have a deep transformation of economies—delivered by the energy transformation, driven by the consequences of COVID still, driven by the reshaping of supply chains.”