Protesters rally in Davos as Oxfam reports record billionaire wealth

FRANCE 24 English

Visit our website: http://www.france24.com  Like us on Facebook: https://www.facebook.com/FRANCE24.English  Follow us on Twitter: https://twitter.com/France24_en

Transcript

00:00Protesters descended on Davos Switzerland Sunday, ahead of the World Economic Forum's annual meeting.

00:06They came to speak out against the gathering of the world's ultra-wealthy and elite.

00:15The decisions made here in Davos do not reflect the interests of the majority of the population,

00:19but rather increase in equality. This is dangerous for democracies.

00:23That is why we are here, together.

00:27Each year ahead of the event, Oxfam releases a report on wealth inequality.

00:33Its leadership says this year's edition comes at a time of skyrocketing billionaire wealth.

00:38This is a year where you see the billionaires actually reach $18.3 trillion of wealth.

00:46That's three times faster accumulation of wealth this year compared to any other year.

00:53And just last year, they have added $2.5 trillion to their kitty.

00:57And that amount is enough to eradicate poverty 26 times over.

01:03U.S. President Donald Trump will be arriving on Wednesday with an especially large delegation,

01:09at a time when the global economic order is in upheaval.

01:13Trump's threats to impose new tariffs on European countries who oppose his plans to acquire Greenland

01:19have once again sown chaos in the fragile, rules-based order,

01:23driving formerly close allies like Canada to boost their trade ties with America's top rival, China.

01:29Trump's attendance this year has made Davos a hot ticket among business and political leaders alike,

01:35with more than 60 heads of state set to appear.

01:39Organizers say that this year is set to have the highest turnout in the Forum's five-decade history.

Category

Transcript

Be the first to comment

Recommended