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UBS’s Davos World Economic Forum white paper on The New Global Context

UBS has produced a white paper on the New Global Context, the theme of the World Economic Forum Annual Meeting 2015 in Davos, Switzerland, on January 21-24. The white paper examines four key pillars of global development - US energy independence, technological innovation, the exit from loose monetary policy, and the environmental credit crunch. It also recommends solutions to related challenges for the global economy, including geopolitical tensions, financial vulnerabilities, and poverty.

Executive summary

Executive summary

The world is undergoing major transformations. To take just two examples: technological development is changing our everyday personal and business lives, and the emergence of the US as a major energy provider is changing the global calculus, shifting the balance of power away from oil suppliers and toward consumers. Both should be seen as positives. But without better global integration and cooperation they could each prove to be a force for ill, rather than good.

UBS's white paper for the World Economic Forum Annual Meeting 2015 looks in more detail at these potential threats, and at the measures policymakers will need to implement in the years ahead. Urgent action is required, particularly with respect to addressing local and global inequalities, and building a strong policy framework for global security that encompasses the geopolitical, financial, physical, and digital spheres. In each of these domains, a greater level of inter- and intra-governmental cooperation will be required than has been in evidence in recent years.