Global Reset
The Great Reset Initiative is an economic recovery plan proposed by the World Economic Forum (WEF) in response to the COVID-19 pandemic. The project was launched in June 2020, accompanied by a video message from the then-Prince of Wales, Charles. Its stated objective is to support recovery from the global pandemic in a manner that emphasises sustainable development.
At the time of the initiative's announcement, WEF chairman Klaus Schwab outlined three core components of the initiative: advancing a "stakeholder economy"; building in a more "resilient, equitable, and sustainable" way using environmental, social, and governance (ESG) metrics; and "harnessing the innovations of the Fourth Industrial Revolution." In a keynote address, International Monetary Fund managing director Kristalina Georgieva identified three principles of a sustainable recovery: green growth, smarter growth, and fairer growth.
"The Great Reset" was chosen as the theme of the 2021 World Economic Forum annual meeting in Davos, Switzerland. The summit was postponed several times due to the pandemic, first to May 2021 and later to 2022. The theme of Davos 2022 was "History at a Turning Point", with discussions largely dominated by the Russian invasion of Ukraine.
The Great Reset Initiative, and the WEF more broadly, have been criticised by commentators for encouraging economic deregulation and expanding the influence of private corporations, particularly multinational corporations, in policymaking at the expense of governmental authority. Others argued that it overemphasised health and exaggerated the ability of a small group of decision-makers to reshape the global economy, or that it amounted to crony capitalism.
The initiative also became the focus of conspiracy theories circulated mainly by conservative commentators on platforms such as YouTube, Facebook, and Twitter. Conspiratorial claims included that the pandemic had been engineered by a secret group to control the global economy, that lockdowns were intentionally designed to cause economic collapse, or that a global elite sought to abolish private property while using vaccines to subjugate populations. Such theories gained traction when political leaders including U.S. president Joe Biden, New Zealand prime minister Jacinda Ardern, and Canadian prime minister Justin Trudeau referred to the idea of a post-pandemic "reset" in public statements.
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