Globalization 4.0: Shaping a Global Architecture in the Age of the Fourth Industrial Revolution

Davos, January 2019 – More than 3,000 participants from business, government, civil society, arts, culture and media are gathered in the Swiss mountain town of Davos for five days of sessions on some of the most pressing global challenges.

Davos remains the world’s most important watering hole. The World Economic Forum (or WEF, the body which organizes Davos annually) is built on the idea that the world needs better co-operation between the private and public sectors to best tackle global challenges. 

To that end, the world’s busiest people do a massive amount of works in a short period of time each year at Davos. The list this year includes 300 Head of States from around the globes, and top world business leaders such as, amongst others: Bill Gates, George Soros, UBER CEO Dara Khosrowshahi, new Goldman Sachs CEO David Solomon, and Bridgewater Founder Ray Dalio.

This year, Indonesia prominent cabinet member globally selected invitees are: Indonesian Coordinating Minister of Marine Affairs Luhut Binsar Pandjaitan, Indonesian Minister of Industry Airlangga Hartarto, Indonesian Minister of Communication and Informatics Rudiantara, Chaiman  of GoI Investment Coordinating Board Thomas Lembong. While from the academic and industry leaders are: Professor of International Economy of University of Indonesia Marie Elka Pangestu, Roesan Roeslani Chairman of Indonesian Chamber of Commerce and Industry, Anindya Bakrie Executive Chairman PT. Bakrie Global Ventura, William Tanuwidjaja Founder & CEO of Tokopedia, John Riady Group Executive Editor of Lippo Group, and several others top Indonesian business leaders.

The theme of this year's meeting is Globalization 4.0: Shaping a Global Architecture in the Age of the Fourth Industrial Revolution. In short, how do we make globalization works for everyone, not just a few?

It will take place in a context of unprecedented uncertainty, fragility and controversy. In a world preoccupied by crisis management at a moment of transformative change, we will use the spirit of Davos to build the future in a constructive, collaborative way.

‘Transformation’ best describes the geopolitical, economic and environmental outlook globally. We are shifting from a world order based on common values to a ‘multi conceptual’ world shaped by competing narratives seeking to create a new global architecture. We live in a world with new planetary boundaries for its development. We are entering into a Fourth Industrial Revolution shaped by advanced technologies from the physical, digital and biological worlds that combine to create innovations at a speed and scale unparalleled in human history. Collectively, these transformations are changing how individuals, governments and companies relate to each other and the world at large.

In short, we are fast approaching a new phase of global cooperation: Globalization 4.0. But, will the arrival of Globalization 4.0 result in our acknowledging these changes and working together to create new opportunities for humankind? Or will globalization suffers from multiple geopolitical, economic and environmental crises that strain multilateral institutions and hinder efforts to collaborate towards a shared future?

As the International Organization for Public-Private Cooperation, the World Economic Forum will focus its convening power, community engagement, insight generation and platform technology to shape a new framework for global cooperation. The World Economic Forum Annual Meeting will focus on the strategic ramifications of Globalization 4.0 and its future impact on global cooperation and the Fourth Industrial Revolution.

ASIAN as the New Block, becomes the other central topic of WEF annual meeting 2019. The reason behind, ASIAN Block has an enviable record of economic growth, development and regional cooperation. Indeed, the region stands out in the world as being one of the most tremendous in terms dynamism and opportunity. But past performance is no guarantee of future success, and many challenges are looming. Geopolitics is shifting, economic relationships are evolving, and demographic transitions are unfolding, and the negative impact of his growth on issues such as social equality and environmental sustainability are becoming more evident. Just as important, the deep disruption of the fourth Industrial Revolution is causing widespread transformation to economic models, jobs and social welfare and system governance. This session gathers leader from Government, business, and academia in the region to explore the priorities for ASEAN in 2019 and how to nurture new forms of Public Private co-operation to address priorities.

There are some of the initiatives:

1. Digital ASEAN 

The forum of Digital Asian aims to support the development of a vibrant regional digital economy. The project was launched in April 2018 at a workshop in Singapore. The portfolio of work for the project is led and shaped by the project’s Board of Advisor made up of five ASEAN government ministers, in which Indonesian Minister Rudiantara is one of the appointed Board of Advisors. 

2. ASEAN Regional Strategic Group 

The RSG is the Forum’s flagship community of regional leaders from government, business and academia. Its goal is to provide strategic guidance to define a common vision and agenda for ASEAN’s growth and development. The RSG was formed and launched during 2016. The organization holds meeting twice a year, one in Davos, and one at the Forum’s ASEAN Summit. Mr. Luhut Binsar Pandjaitan Coordinating minister of Marine Affairs, Mr. Thomas Lembong Chairman of Investment Coordinating Board, and Mari Elka Pangestu are the Permanent Members of the strategic group.

The RBC comprises of business leaders committed to shape the regional agenda through public-private collaboration. The council provides a platform for members to interact with public-sector leaders, shape the Forum’s strategy for the region, interact with the Forum throughout the year and drive projects that respond to pressing regional issues.

The forthcoming 22-25 January 2019 WEF Annual Meeting will be based on five working principles:

1. Dialogue is critical and must be multi stakeholder-based

2. Globalization must be responsible and responsive to regional and national concerns

3. International coordination must be improved in the absence of multilateral cooperation

4. Addressing the biggest global challenges requires the collaborative efforts of business, government and civil society

5. Global growth must be inclusive and sustainable

This, and related issues such as tackling climate change, fixing our broken economic system and preparing ourselves for the jobs of the future will all be explored in over 400 sessions, nearly half of which will be broadcasted on their website.