Davos Warms to Trump’s Results (if Not Him Personally)

Hello from Davos. We’re bringing you the latest from here all week. One tidbit: Bill Gates, who has attended for 30 years, canceled his plans to come this year. (Want this in your inbox? Sign up here.)

The Davos crowd has come to like Trump’s outcomes

As the 50th annual World Economic Forum — the conclave of global business and political leaders — begins today in Davos, Switzerland, Andrew writes in his latest column that the assembly has warmed to President Trump, at least economically.

• Mr. Trump’s policies are the opposite of Davos doctrine, advocating trade wars and a fragmenting of the global economy.

• But “to the surprise of many Davos regulars, the economic results have yet to prove as disastrous as they expected — and, at least in the short term, have seemingly proven to be quite positive,” Andrew writes. 

• Maybe it shouldn’t be surprising, the corporate leadership expert Jeff Sonnenfeld tells Andrew: “The Davos crowd are well-respected followers of fashion and love whomever is in power.”

• But they don’t like him personally, says the Trump-friend-turned-foe Anthony Scaramucci: “The unspeakable truth is that C.E.O.s and their staff are horrified.”

Mr. Trump took a victory lap in his speech at the Forum this morning:

• “Today I’m proud to say the U.S. is in the midst of an economic boom the likes of which the world has never seen before.”

• Of China, he said, “Under my leadership, America confronted the problem head on.” He also defended his trade war, saying, “Our relationship with China right now has probably never been better.”

• And he criticized the Fed’s unwillingness to cut U.S. interest rates to his liking.

But much of this year’s event focuses on issues that Mr. Trump doesn’t like, including:

• Climate change, which will almost certainly be a big topic, according to Stanley Reed of the NYT (especially since Greta Thunberg is set to speak). Mr. Trump himself said the U.S. would join a major tree-planting initiative, but urged a rejection of “the perennial prophets of doom.”

• Falling economic growth, partly prompted by his trade wars, according to a new study by PwC.

More: The forum’s founder, Klaus Schwab, tells David Gelles of the NYT that the event is still relevant today. And here’s the full list of this year’s attendees.