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    • News
    • Davos 2026

    Davos tests the limits in a world of power, profit, and inequality

    As world leaders and billionaires descend on Davos, rising inequality and collapsing multilateralism raise questions about development’s place at the World Economic Forum.

    By Elissa Miolene // 19 January 2026

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    For one week each year, the quiet ski town of Davos transforms into a global stage — and today, the circus of money, influence, and dealmaking that is the World Economic Forum has officially begun.

    For much of its history, the forum has been seen as a place for billionaires, business executives, and world leaders to tackle some of the globe’s biggest problems. But while this year’s banner theme is “a spirit of dialogue,” the backdrop of the event feels like anything but.

    Davos’ most-watched attendee will be U.S. President Donald Trump, whose administration has spent the past year slashing foreign aid, retreating from multilateral diplomacy, and embracing an openly transactional approach to foreign affairs. Meanwhile, Iran is convulsing in upheaval, and thousands of protestors have been killed in the capital’s streets. And across the world, countries from Greenland to Gaza have been caught in the geopolitical crossfire.

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    More reading:

    ► Trump withdraws, defunds dozens of international orgs and treaties

    ► The old aid model is dead. Now comes the fight over what replaces it

    ► The destruction of USAID is already leading to a trickle-down demise

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    • Democracy, Human Rights & Governance
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    About the author

    • Elissa Miolene

      Elissa Miolene

      Elissa Miolene reports on USAID and the U.S. government at Devex. She previously covered education at The San Jose Mercury News, and has written for outlets like The Wall Street Journal, San Francisco Chronicle, Washingtonian magazine, among others. Before shifting to journalism, Elissa led communications for humanitarian agencies in the United States, East Africa, and South Asia.

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