Alois Zwinggi, the new chief of the World Economic Forum (WEF), advocates for private businesses to be bolder and take more risks. Speaking to the “Handelsblatt,” he observed that restarting after a failure is significantly more difficult in Europe than it is in the United States.
He suggested this difference impacts a region’s innovative capacity. Zwinggi argued that American entrepreneurs often think bigger, take greater risks, and more easily secure capital. He cited Elon Musk as an example of someone who started small, faced setbacks, yet consistently managed to convince investors. He stated that Europe has a significant gap to bridge in this regard.
However, the CEO also highlighted that Europe possesses numerous major advantages. He stressed that the continent has the capability to handle any challenge, and Europeans should be more conscious of this fact. Europe boasts considerable knowledge, highly qualified workers, and a robust industrial foundation.
Regarding the economic ramifications of the war in Iran, Zwinggi offered no reassurances. He noted that the current focus is primarily on oil and energy. In his view, the potential impact on fertilizers and, consequently, on the food supply is being insufficiently addressed, which could introduce an added escalation factor to the current crisis.
Zwinggi formally introduced himself in Berlin this week as the successor to Börge Brende at the helm of the WEF. Brende had stepped down in February due to the Epstein affair.
