WEF Davos 2016 LIVE: “European unity and cooperation is being called on question”, Vice President Joe Biden criticizes from Davos

Special Session: Joseph R. Biden Jr speaks

DAVOS/SWITZERLAND, 20JAN16 – Joseph R. Biden Jr, Vice-President of the United States of America speaks during the special session at the Annual Meeting 2016 of the World Economic Forum in Davos, Switzerland, January 20, 2016. WORLD ECONOMIC FORUM/swiss-image.ch/Photo Remy Steinegger

The end of the first day of the World Economic Forum 2016 welcomed the Vice President of the United States of America, Mr Joe Biden, at the Congress Hall of the Davos Congress Centre. The American politician gave then a very long speech, too long for many, about the 4th industrial revolution and how it affects America and the world.

According to the former Delaware Senator, there are two questions regarding Industry 4.0:

A) “Will this revolution transform our global economy?

B) “If it is does is it for good or for the worse?”

“We are already seeing how digital advances are consequential for all economies”. These transformations, VP Biden added, are for the good of average people around the world as they create new kinds of jobs that are “hopefully” well paying.

Further, Mr Biden underscored that all these astounding changes in science require us to be proactive. And true, there are major matters at stake like greater flexibility or less work protection due to the rapid technological expansion. However, all those existed even before the 4th industrial revolution taking place, he argued.

No middle class, no thriving economies

“The underlying question goes to President Obama refer to the defining challenge of our time: how do we ensure wide access to middle class which is being hauled out in the 21 century?”, the American politician wondered, stressing the importance of the middle class for modern democracies. The middle class he said is a “value set”, “an idea”, a “belief in the possibilities” of the US.

Consequently, Mr Baiden made a substantial reference to the middle class and its significance to political and economical stability: “the possibility to have a descent life, a good job… it is possible for anyone to work hard to achieve that. A job is about a lot more than a paycheck. It is your dignitiy, your self worth, your place in the community. Every single human being is entitled to be treated with dignity, be given an opportunity…That bargain has been broken… Corporate profit is not shared any more. There is a gap between productivity and wages…A thriving middle class has been the main reason for stability in our societies. It is the fiber to hold ourselves together…No middle class, no thriving economies…Changes in corporate governance… I have watched the change. Nothing benevolent. The fundamental change is the gap between productivity and wages. Pay cheques have stagnated”.

The Vice-President of the United States of America went on by showing how it is every leader’s responsibility to “bend the changes” that the digital revolution brings, so that they serve the society and the citizens without posing a threat to employment. He then said that this is not the first industrial revolution that the world has seen. Previously, workers had to be adapted too e.g. the blacksmith had to make frames for automobiles thereafter. Mr Biden demonstrated a big worry on whether the world will be able to accommodate this new digital revolution by saying “it may be harder in this fourth revolution”.

The 5 digital pillars

Overall, the US Vice-President presented five key measures to take control of the 4th industrial revolution. First, he sees education’s importance to be truly primordial. Particularly “when I say education I mean early, affordable and accessible”, he underlined. For that purpose the role of the private-public cooperation to create and support apprenticeships is too important. In the US often there is a big shortage of supply in engineers with cutting-edge IT skills. The solution is to embed in schools educational programmes that respond precisely to all those needs.

Second, work protection in the digital era is a big must. In the past 40 years Mr Biden witnessed the big corporations in America getting richer but the middle class getting poorer. He thus finds imperative that the companies around the world have a better profit sharing policy, to give back to their employees and their communities.

Third, world class infrastructure is certainly another effective way to welcome the 4th industrial revolution. Private-public partnerships are surely a great tool in that direction.

Fourth, Mr Biden stressed that “we need a more progressive tax code” so that “everybody pays a fair share”. Like that “we can invest on things to make life better for everyone”, the American politician explained.

Last, but not least, we would not be able to make the most of the 4th industrial revolution without better access to capital. In order to “make entrepreneurship more widely available we got to figure out how to make more capital available. Opportunitiess to take risks have to be more widely available”, Mr Biden openly supported at the rostrum of the World Economic Forum.

Referring to Europe, one sentence that made obvious the bad name that Europe has been making currently at the other side of the Atlantic, possibly due to its sluggish economy, the ongoing Brexit/Grexit question and the migrant crisis: “European unity and cooperation is being called on question”.

Closing his speech, the American VP showed an acute optimism for the future. “Never before we had so much power to do great things!”, he underscored.

“This is not going to be easy, but it is possible. It is always about possibilities”.

Stay tuned from 20 to 23 January as the Sting will be once more producing top class critical LIVE media coverage from the Congress Centre in Davos, Switzerland. 

Join the Hive!

the sting Milestone

Featured Stings

Can we feed everyone without unleashing disaster? Read on

These campaigners want to give a quarter of the UK back to nature

How to build a more resilient and inclusive global system

Stopping antimicrobial resistance would cost just USD 2 per person a year

2019 ‘a critical year’ for Somali politics and development says Security Council

Facts, not fear, will stop COVID-19 – so how should we talk about it?

Recognize, celebrate and ‘stand in solidarity’ with persons with albinism

Maros Sefcovic Canete European Commission Energy

Better late than never? Commission runs now to fight energy dependency on Russia with the sustainable energy security package

UN chief hails Libyan leaders’ agreement to hold general election

Strict alcohol laws which cut intake more than 40 per cent in Russia, linked to historically high life expectancy

A record number of people will need help worldwide during 2020: Global Humanitarian Overview

France is bringing back national service

These are New York Public Library’s 10 most borrowed books

How the US should react to the pandemic, according to Bill Gates

Long-term exposure to air pollution is like smoking a pack of cigarettes a day

Why remote working doesn’t have to mean alienated employees

How 5G can connect the affordable homes of the future

How data can empower patients to personalize and improve their cancer treatment

UNICEF warns of ‘lost generation’ of Rohingya youth, one year after Myanmar exodus

Here are four steps SMEs can take for long-term success

This AI-powered app aims to help people with autism improve their social skills

Everybody against Germany over the expensive euro

Groundbreaking cancer-fighting drugs now included in updated UN list of essential medicines

Predicting two more years of economic stagnation

World food security increasingly at risk due to ‘unprecedented’ climate change impact, new UN report warns

EU budget for 2019: do more for the young, SMEs and the climate, urge MEPs

New roadmap toward healthier and cleaner oceans adopted by UN Environment and European Commission

Why saving our forests should be a global priority

Why COVID-19 makes a compelling case for the wider integration of blockchain

How India will consume in 2030: 10 mega trends

UN chief praises Malaysia’s death penalty repeal as ‘major step forward’

Situation in central Mali ‘deteriorating’ as violence, impunity rise, UN rights expert warns

Bold, innovative measures for refugees and their hosts sought, at first ever Global Forum

FROM THE FIELD: Malawi farmers diversify to fight climate change

The importance of Yellow September and suicide prevention in Brazil

Parliament seals 2014 EU budget and the spending ceiling until 2020

Everything you need to know about the coronavirus

Germany and OSCE support an east-west dialogue in Ukraine without exclusions

The Next Web 2014, the biggest European conference on Internet so far and the Absence of Brussels from Amsterdam

Big world banks to pay $ 4.95bn for cheating customers; Is it a punishment or a gentle caress?

Greener tourism: Greater collaboration needed to tackle rising emissions

Mental health in medical students: the deciphered quandary

Agriculture and Fisheries Council

Violence against women a barrier to peaceful future for all

Berlin cannot dictate anymore the terms for the enactment of the European Banking Union

Coronavirus: ‘An emergency in China, but not yet a global health emergency’

Climate change: Parliament’s blueprint for long-term CO2 cuts

5G will drive Industry 4.0 in the Middle East and Africa

Handwashing is not just for coronavirus – how good hygiene could help reduce antibiotic use

UN sees progress in fight against tobacco, warns more action needed to help people quit deadly product

COVID-19 and nature are linked. So should be the recovery.

Here’s how community lending could help refugees find their feet

India is investing more money in solar power than coal for first time

‘Harmonized’ plan launched to support millions of Venezuelan refugees and migrants

‘Refrain from violence’ UN chief urges, as presidential election result is announced in DR Congo

Atomic agency cites concerns over Iran testing sites, offers COVID-19 assistance

What’s really driving corporate climate action?

How storytelling can be a force for social change

Making the move to more sustainable mobility – three steps for companies

Schengen: new rules for temporary checks at national borders

This electric plane has flown successfully for 30 minutes – is this the future of flying?

China is sending science students to live with rural farmers – and crop yields are skyrocketing

“For my children Italy will be an innovation lab and not a museum”; the Sting reports live from World Economic Forum 2015 in Davos

‘End the ongoing atrocities’ against people with albinism in Malawi, say UN rights experts

More Stings?

Advertising

Speak your Mind Here

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s