Why Davos was so gloomy
Davos, Switzerland (CNN Business)A year ago, the mood in Davos was upbeat. The global economy was humming, President Donald Trump’s tax cuts were kicking in and a trade war between the United States and China was still just a threat.
Fast forward to this week’s World Economic Forum and the atmosphere could hardly have been more different.
“There’s not much optimism,” said Nelson Cunningham, lawyer and a former adviser to the Clinton administration who has been coming to Davos for 21 years. “But are we too pessimistic? I don’t know, I think the pessimism this year is warranted.”
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