The Munich Security Conference is traditionally characterized by bringing maximum demands on foreign, security and defense policy to the stage. Nevertheless, in an interview with n-tv, economics professor Klaus Schweinsberg considers the discrepancy between the assessments communicated in the political public sphere on the one hand and the actual perceptions of business representatives in the side rounds on the other to be considerable this year. Topics such as energy prices, which are still too high, greater integration of the global south or the threat of migration of energy-intensive industries were characterized by a lack of congruence. Prof. Dr. Klaus Schweinsberg takes a positive view of Macron’s renewed efforts to promote a European defense industry. This is not only relevant against the backdrop of the emerging China-Taiwan conflict, which is being anticipated militarily by the USA.
To address global challenges and strengthen resilience in the face of crises, this year’s meeting of the World Economic Forum was held under the motto “Cooperation in a Fragmented World.” In her special address, Ursula von der Leyen referred to the WEF’s latest Global Risks Report. Among other things, this opens up perspectives on how national priorities can be assessed in relation to global risks in order to achieve the goal of a more resilient, equitable and sustainable future.
At this year’s meeting in Davos, Professor Dr. Klaus Schweinsberg focused on concrete, feasible and rapid solutions to acute problems such as the war in Ukraine, arms supplies or inflation. Along with Ulrich Reitz, Klaus Schweinsberg sees the questioning of democratic institutions as a key challenge for implementation, as nation-state political interests can collide with long-term global goals. The economics professor hopes “that the younger generation will be brought more into the game and pushed into politics – and not just in the margins.”
A New Framework for Growth
With rhetorical unambiguity, Olaf Scholz at this year’s Bundeswehr conference locates the threat posed by Russia under Putin as currently the greatest for NATO allies. In view of the threat situation, the core mission of the Bundeswehr comes into focus within the Chancellor’s “Klartext” speech: national and alliance defense. Scholz reaffirmes the political and social backing of the Bundeswehr, with the special assets made available being no exception.
In the discussion that followed, opened by Klaus Schweinsberg, Olaf Scholz took questions from top Bundeswehr officials and political representatives. Within the new national security strategy, Scholz says, the development of the German military’s capacity to act was under particular scrutiny.
„If you are going to impose sanctions, you want to organize them so that they will be as effective as possible – and in the case of the current war, I am not sure that they have been.“ – Eric Maskin
Since Russia’s annexation of Crimea in 2014, sanctions aimed at deterrence have been increasingly used to dissuade Putin from further military expansion – until the military attack on Ukraine on February 24 reshuffled the cards worldwide. Six months after the war began, Saskia Meuchelböck of the Kiel Institute for the World Economy and Nobel laureates Oliver Hart, Eric S. Maskin and Sir Christopher A. Pissarides evaluate the effectiveness and success of ongoing economic sanctions at the Lindau Nobel Laureate Meetings. The use of the economic weapon aims to end the war; while Oliver Hart focuses on the punitive effect, Eric Maskin hopes for sanctions as an incentive to move Russia to the negotiating table. Even if the sanctions used weaken the Russian economy, unintended political consequences within Russia may counteract their success, as Ms. Meuchelböck confirms using recent studies. The time horizon and trade-offs put pressure on the sanctioning countries: “How long can we affort this situation?” is a question posed by moderator Klaus Schweinsberg to the invited guests.
In their article in “Der Aufsichtsrat”, Professor Philip Meissner and Professor Klaus Schweinsberg address the monitoring obligations of supervisory boards with regard to the use of AI in corporate practice. Calling in independent expertise or monitoring the risk management system with regard to AI pose new challenges for supervisory boards. The authors consider four relevant risk dimensions here.