The World Economic Forum in Davos ended on an optimistic note, writes Fortune, for a multitude of reasons. First off, the global economy is enjoying a rare moment of synchronicity, and every major region is expanding at the same time. Unemployment is currently low, at the same time that inflation is dormant, so we face the possibility of several years of “high pressure” growth, in which wages and other benefits to workers will rise. President Trump’s hard line “America First” trade agenda was retrofitted at Davos into a more acceptable “America First, but not America Alone,” writes Fortune, and though it is not clear what this will mean in practice, the cooler rhetoric has reduced fears of a trade fiasco. Plus, the rapid advance of technology, especially in the artificial intelligence sector, carries the promise of change in business productivity, as well as solutions to social problems. Finally, a new generation of global business leaders are rethinking their companies’ obligations to society. All of this together does not minimize the geopolitical threats facing the world, but it is worth savoring the moment, writes Fortune.
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