Klaus Schwab a prominent name in economic political ties
Date
1/19/2016 3:39:44 AM
(MENAFN- Kuwait News Agency (KUNA)) DAVOS Jan 19 (KUNA) -- Klaus Schwab German founder and executive chairman of the World Economic Forum is considered as one of the top economic figures in the world mainly for his efforts in developing ties between economy and politics.Schwab born in 1938 has a rich educational background as he received a Doctorate in Engineering from the Swiss Federal Institute of Technology in 1965 a Doctorate in Economics from the University of Fribourg in 1967 and a Master of Public Administration from the John F. Kennedy School of Government at Harvard University. Later on in 1971 Schwab worked as a professor in Business Policy in the University of Geneva.In the same year the founder established the first organization in charge of business management in Europe aiming to develop cooperation between companies in the continent.Meanwhile in 1979 Schwab published the Global Competitiveness Report which is an annual report assessing the potential for increasing productivity and economic growth of countries around the world written by a team of economists.Schwab's efforts and achievements in the economic field were topped by succeeding in bringing together political decision makers businessmen company owners and CEOs for an annual meeting in the Swiss Alpine town of Davos-Klosters.By the year 1987 the annual meeting was officially known as the World Economic Forum aiming to create dialogue and share experience between both economy and politics.Despite his prominent success Schwab was faced with criticism from the anti-globalization movement who said that the forum did not live up to its theme of improving economic conditions around the world. They argue that Schwab doesn't pay attention to allow developing countries to make use of their resources while the forum only focuses on top international companies.Upon the 2008 financial crisis Schwab was further criticized as the companies sponsoring the forum were the main players in the international crisis. The founder has previously presented these companies as top trust-worthy bodies.Moreover the official has humanitarian achievements as he and his wife Hilde established the Schwab Foundation for Social Entrepreneurship in 1998. He also donated USD one million to establish a non-profit forum to support young leaders in the field of economic and political decision making.Schwab also received several international awards and 14 honorary doctorates from universities in China Canada Mexico Israel UK Slovakia Tatarstan Latvia Vietnam Thailand Switzerland South Korea and Germany.(end) ta.ag
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