Rising protectionism and slide in US-China ties fuel pessimism of chief executives, says PwC
Pessimism among chief executives has risen sharply in the past 12 months as the leaders of the world’s biggest companies have taken fright at rising protectionism and the deteriorating relationship between the US and China.
The survey of chief executives conducted by the consultancy firm PwC to mark the start of the World Economic Forum in Davos showed a sixfold increase to 30% in the number of CEOs expecting global growth to slow during 2019.
Davos is a Swiss ski resort now more famous for hosting the annual four-day conference for the World Economic Forum. For participants it is a festival of networking. Getting an invitation is a sign you have made it – and the elaborate system of badges reveals your place in the Davos hierarchy.
Link : Pre-Davos survey shows sixfold rise in global CEOs’ gloom