‘Technology vital aspect of globalisation’
An armed security personnel wearing camouflage clothing stands on the rooftop of a hotel, next to letters covered in snow reading “Davos”, near the Congress Centre during the opening of the 2018 World Economic Forum (WEF) annual summit in Davos. — AFP

An armed security personnel wearing camouflage clothing stands on the rooftop of a hotel, next to letters covered in snow reading “Davos”, near the Congress Centre during the opening of the 2018 World Economic Forum (WEF) annual summit in Davos. — AFP

Happiness Zengeni in Davos, Switzerland
The World Economic Forum kicked off yesterday in Davos, Switzerland, with Indian Prime Minister Narendra Modi telling the conference that technology is now an important aspect of globalisation, which presents both opportunities and risks.

Delivering the keynote address here yesterday, PM Modi said changes in the society, particularly in technology, presented the world with both opportunities and risks.

“Technology-driven transformation is deeply influencing the way we live, the way we work, behave and talk to each other and influencing international politics and economics.” He said the technology was influencing every aspect of the world.

“Technology has the ability to bend, break and link and a very good example of these three aspects is the use of social media,” he said.

“In today’s time, in the first instance, it appears that media; especially the social media is connecting us. However, it’s just connecting; not integrating. We are mostly talking. Not listening!

“We share news and views, but we don’t share the vision. Now, we only forward the New Year’s greetings! We don’t write or convey verbally! By the way, Happy New Year to all of you! PM Modi said data was a huge asset but its flow “is creating the biggest opportunities and the greatest challenges”.

The WEF forum is running under the theme “Creating a shared future in a fractured world” and the organisers led by Klaus Schwab believe such a gathering will result in shared solutions and actions, which would help in resolving some of the pressing challenges, such as inequality, climate change and innovations in technology and labour markets.

President Mnangagwa is attending the conference, the first time the country is represented by the Head of State. He is leading the delegation, which includes senior Government officials and private business leaders.

The high profile delegation the President has taken to this important gathering of global political leaders and businessman, reflects the new administration’s seriousness in ending Zimbabwe’s years of international isolation to attract foreign investment, re-engage all friendly nations and rebuild an economy battered by almost two decades of instability.

It also comes as President Mnangangwa has repeatedly said since his inauguration that it was critical that Zimbabwe reintegrates itself in the global family and attract foreign capital to rebuild the economy after two decades of economic crisis.

As such, the 48th WEF provides President Mnangagwa a befitting platform to make his pitch to an array of global investors to consider Zimbabwe, as part of shrill calls for foreign capital to track its way to Zimbabwe, which presents innumerable investment and business opportunities under a new economic order.

In line with the theme, Mr Modi said “the world is full of fault-lines and rifts, we need to build a shared future with the changes taking place and new forces are rising, the balance between economic capabilities and political power is changing at great speed.”

Apart from fractures caused by technology, the fractures also existed within the nations. “There is lack of understanding among interest groups and communities. There are obvious inequalities in incomes and opportunities. There are disparities and divisions in distribution of assets and resources. But patience has given way to passion. Everyone is trying to outdo and overpower the other while staking claim to amenities and entitlements.

“Third is the fracture at the international level. To my mind, presently it has acquired very serious dimension. There is also a fracture between the present and future.

“There is a divide between the requirements of today and the needs of conservation for future.” PM Modi said the challenges were multi-faceted and “are all around us”. But it was the responsibility of the nations to tackle them.

“We want to see a co-operative, harmonious, sharing and caring world. In fact, this is where the hope lies. But, unfortunate part of human life is that we allow things to be broken. Then we start retro-fitting. We first tear it; then put the stitch. By that time, many times, it is too late. In international arena, there are many such situations today where we don’t know now what to do. The real strategy would be not to let the fracture happen to the extent it does,” he said.

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