Davos elite assess global risks of another Trump administration – 01/15/2024 – Market

Donald Trump is thousands of kilometers away from the Swiss Alpine city of Davos, but discussion about his possible return to the White House has become a topic before the annual meeting of the global elite even begins.

This Monday (15), amid freezing temperatures in the state of Iowa, the former president is expected to consolidate his position as favorite to be nominated as Republican Party candidate in the primaries for this year’s presidential election. His overwhelming advantage over his rivals seems insurmountable and polls point to a confrontation between Trump and President Joe Biden, tied in voter preference.

Last seen at Davos in 2020, when he arrived with a fleet of helicopters, Trump was the last US leader to appear at the World Economic Forum, but he remains a popular topic of discussion among attendees ranging from CEOs and bankers to government authorities.

“We’ve been through it, we’ve survived it and we’ll see what it means,” said Philipp Hildebrand, vice president of BlackRock, in an interview with Bloomberg TV. “Certainly from a European perspective, from a globalist and transatlantic perspective, of course it’s a huge concern.”

He shares the assessment of European Central Bank President Christine Lagarde, who last week said another Trump term would clearly be a threat.

Former US Vice President Al Gore is nowadays best known for his fight against climate change, but he was once a presidential candidate and also shared his views on Trump’s expected nomination by the Republican Party.

“I don’t think it’s a fait accompli,” he told Bloomberg TV in Davos. “I’ve seen a lot of surprises over the years. Something tells me this could be a year of significant surprises. I hope that’s the case, because I don’t want to see him renominated and reelected.”

He also said the importance of voting in Iowa should not be overstated.

“I’m not sure they’re as significant as some believe,” he said. “There have been so many examples — the last time in 2016 when Ted Cruz won Iowa, and it didn’t matter at all. We’ve seen others win the Iowa caucus on the Republican side and then disappear.”