Breitbart has labeled the Davos attendees as a collective of ‘leftist elites’ and ‘corporate cronies.’
Last Thursday, a reporter asked Treasury Secretary Steven Mnuchin to explain President Trump’s decision to attend the 2018 World Economic Forum in Davos, Switzerland.
“What is the point of the Trump administration going to a place that is regarded, usually, as a hangout for globalists?” the journalist asked.
Mnuchin seemed surprised by the question. “I don’t think it’s a hangout for globalists,” he said.
In an article about the exchange, conservative news site Breitbart reported that Mnuchin refuted the reporter’s claim. The piece described Davos simply: as a gathering of the “world’s most elite.” Washington Post
Mr Trump’s view of world trade will be challenged next week when he visits Davos, judging by a paper seen by Reuters on Wednesday that is aimed squarely at his “America First” stance.
The “Strategic Brief on Misconceptions around Trade Balances” issued by the WEF’s network of trade experts, took issue with the Trump administration’s attitude to international commerce.
“A widely held view is that a country’s trade balance is a key measure of its international commercial success,” said co-authors Harvard professor Robert Lawrence and Princeton fellow Yeling Tan in the paper, which is due to be presented and debated at Davos.
“Currently, invoking this reasoning, the administration is seeking to reduce the trade deficit by renegotiating US trade agreements and adopting more protectionist US policies.” BBC
As a currency trader there are a few meetings each year that are the whales public relations efforts. Be aware that you are advised to proceed with caution as to making any forward trading decisions
