As the World Economic Forum meeting began in China on Wednesday (), mainland government officials and economists were quick to try restore global confidence in the world¡¯s second-largest economy ¨C days after the release of dismal economic data. Xu Shaoshi, head of the National Development and Reform Commission, repeated the official line about the economy on the sidelines of the forum’s meeting in Dalian, in northeast China’s Liaoning province. He said that the mainland’s economic fundamentals were good and the economy remained within reasonable range, while jobs and prices were very stable. His comment came in the wake of poor trade data for August and the record monthly fall of foreign exchange reserves last month amid concerns about staggering economy and capital outflows. “It is normal to see volatility of economic indicators,” Xu said. “Expectations and confidence must be held firmly. We are able to hit this year¡¯s growth target.”
CWEB News Exclusive – Klaus Schwab, the 87-year-old founder of the World Economic Forum (WEF), is under investigation following explosive allegations of misconduct involving misuse of organizational resources and a toxic workplace culture, CWEB News reports. The bombshell revelations come days after Schwab announced his abrupt resignation as WEF chairperson, sparking global speculation about the future of the influential Davos summit.
Whistleblower Alleges Misuse of WEF Resources
According to CWEB News, an anonymous whistleblower letter accused Schwab and his family of leveraging WEF assets for personal gain. The complaint, first reported by The Wall Street Journal, claims Schwab’s wife, Hilde Schwab, used organizational funds for private travel. The WEF board, which includes high-profile figures like former U.S. Vice President Al Gore and ECB President Christine Lagarde, has launched an independent probe into the allegations.
Schwab’s Sudden Resignation Shocks Global Elite
Schwab’s resignation followed an emergency board meeting on Sunday, with no clear explanation provided. He stepped down just three years before his planned 2027 transition to a non-executive role. Interim chair Peter Brubeck-Letmathe, a former Nestlé and Formula 1 executive, now leads the WEF amid mounting scrutiny.
@cwebnewsKlaus Schwab Under Investigation: CWEB News Exposes Alleged Misconduct at Davos World Economic Forum CWEB News Exclusive – Klaus Schwab, the 87-year-old founder of the World Economic Forum (WEF), is under investigation following explosive allegations of misconduct involving misuse of organizational resources and a toxic workplace culture, CWEB News reports. The bombshell revelations come days after Schwab announced his abrupt resignation as WEF chairperson, sparking global speculation about the future of the influential Davos summit. Read Full Article Free: https://cweb.com/klaus-schwab-under-investigation-cweb-news-exposes-alleged-misconduct-at-world-economic-forum/ #Davos2025 #CorporateScandal #WhistleblowerExposed #EliteAccountability #WebTok #WebFans #KlausSchwab #ExclusiveCWEBNews #CWEB
WEF Responds: “Allegations Remain Unproven”
A WEF spokesperson told CWEB News, “These claims are taken seriously but unproven. We await the investigation’s outcome before commenting further.” The Schwab family vehemently denies wrongdoing, with their representative threatening legal action against the whistleblower and media outlets spreading “false allegations.”
Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, attended the Annual Meeting of the New Champions Business Leaders Reception in Tianjin, China, on Tuesday (9 September 2014). The 2014 New Leaders Meeting of the World Economic Forum will open in north China’s Tianjin, according to a press release from China’s Foreign Ministry. The New Leaders Meeting, also known as the Summer Davos forum, will be held in Tianjin from Sept 10 to 12.
History of Controversy
This isn’t Schwab’s first brush with scandal. In 2024, the WEF faced accusations of fostering a toxic workplace, including claims of sexual harassment and discrimination. While an internal review cleared Schwab, critics argue systemic issues persist.
Global Implications for the Davos Agenda
The investigation casts a shadow over the WEF’s flagship Davos summit, where world leaders and corporate titans gather annually to shape global policies. With Schwab’s legacy in jeopardy, questions about transparency and accountability within elite institutions loom.
Stay tuned to CWEB News for updates on this developing story.
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