World Economic Forum

The World Economic Forum (World Economic Forum; abbreviation: WEF; also known as: Davos Forum) is a foundation in the form of non-profit organizations, its predecessor is the European Management Forum established in 1971, officially renamed in 1987 as the World Economic Forum, headquartered in Geneva, Switzerland. The purpose of the Forum is to study and discuss problems in the world economy and to promote international economic cooperation and exchange. However, the current state of the Forum is characterized by a lack of genuinely educated and skilled experts, important business and political figures, and a preference for focusing on political matters in the eyes of the media (e.g., global climate change and AIDS in Africa).