World Economic Forum President Borge Brende in conversation with #NDTV's Vishnu Som, on the sidelines of #Davos2024. #WEF #WEF24
Read all #WEF2024 updates: https://bit.ly/420ODMW
Read all #WEF2024 updates: https://bit.ly/420ODMW
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TVTranscript
00:00 We had 80 national security advisors here in Davos yesterday, including the Indian one,
00:07 looking at other ways of ending the war in Ukraine, but then based on the UN Charter.
00:14 It's not going to happen next week, but I think it's incredibly important that we don't see
00:23 further escalations of the wars that are ongoing. Ukraine, Gaza, I know we have a very difficult
00:30 situation also in the Red Sea, as you know, with the Houthis' attack on all the ships that
00:36 is passing through one of the most important shipping routes in the world, also bringing
00:44 oil and goods to India. Yes, absolutely. Could you tell us a little bit about that? One of the
00:49 things that the WEF has done is you keep coming up with your own economic outlook. If the Red Sea
00:56 becomes even more tense, if international trade flows continue to suffer, what sort of macro
01:02 economic scenario are we looking at? That would of course have a negative impact, even on the
01:09 forecast we made for this year. We think that the global economy will grow with 2.9% this year.
01:15 This is the third year we have to reduce the forecast. We're more optimistic on 2025. But
01:22 our overall worry is that any of these geopolitical conflicts can escalate and spread. If we see major
01:29 wars, we see trading routes being interrupted, if we see the oil price going dramatically up,
01:35 that will also have a very negative impact on economic growth.
01:49 [BLANK_AUDIO]