Podcast Summary: "The Globalist" — The World Economic Forum Kicks Off in Davos

Monocle Radio | January 19, 2026
Host: Emma Nelson
Key Locations: London, Zurich, Davos

Episode Overview

This episode marks the start of the World Economic Forum (WEF) in Davos, featuring heightened anticipation due to new leadership, a record-breaking security budget, and significant global political intrigue—especially with the in-person return of former US President Donald Trump, the first WEF since the departure of its founder Klaus Schwab, and acute geopolitical tensions over US-EU trade issues and Trump's ambitions regarding Greenland. The show offers live updates from Davos, Zurich, and other global hotspots, rounding out with coverage from Australia, Japan, Spain, Milan, and a look ahead at the Oscars.

1. Davos 2026: A New Era and Surging Security

Key Points:

• Budget and Security

  • Security budget has soared to CHF 9 million (00:18), deploying 5,000 soldiers in Davos—mostly due to Trump’s anticipated appearance and accompanying US delegation.

    "Apparently 9 million Swiss francs just for security... 5,000 soldiers being deployed... a lot of that has to do with... the hefty US Deleg that's coming in." — Carlotta Rebelo (00:18)

  • The US delegation has established the first official “USA House,” taking over a local church for events and panel sessions.

• Leadership Transition: Schwab to Fink & Hoffman

  • First WEF without Klaus Schwab after 55 years.
  • Larry Fink (Blackrock) and Andre Hoffman (Roche) are the new co-chairs.
  • WEF regains “muscle,” with interest revitalized among global CEOs.

    "It's thanks to Fink's extensive Rolodex that you've even got Trump coming... big hitters are there again." — Juliet Lindley (00:26)

• WEF's Evolving Mission

  • Official 2026 theme: "A Spirit of Dialogue."
  • Emphasis on the balance between business, government, and civil society, echoing Schwab’s founding vision.
  • Record attendance: 850 CEOs, 65 heads of state (00:32).

2. Geopolitics: US-EU Tensions, Tariffs, and Greenland

Key Points:

• EU Prepares Tariffs

  • The FT headline: “EU readies €93 billion in tariffs in retaliation for Trump’s Greenland threat.”
  • Tariffs, unpredictability, and 'geo-economic confrontation' dominate WEF risk assessments.

• The Reality Behind Dialogue

  • Public programs proceed, but real negotiations occur behind closed doors—especially at the key venues.

    "The real conversations happen behind closed doors and most of us won't really know much about them." — Carlotta Rebelo (00:39)

• European Concerns

  • Segment in Copenhagen: Denmark bullish against US pressure, Europe growing more united in opposition to Trump’s maneuvers (01:20).
  • Danish papers mock Trump’s wealth pursuits and question impact on Western Alliance.

• On the Ground in Greenland

  • Monocle correspondents Andrew Muller and Alexis Self on their way to Nuuk, Greenland, to gauge local sentiment (01:22).

    "It's been a really weird 12 months for the people of Greenland... Now all of a sudden it's become the most crucial place on Earth." — Andrew Muller (01:28)

3. Global Stories & Political Developments

Portugal: Presidential Election

• Socialist candidate António José Seguro surprisingly outperforms polls (~31%), triggering a runoff against far right leader André Ventura (00:56).
• Left-leaning parties rally behind Seguro; outcome uncertain.

Australia: Gun Control & Hate Speech Reforms

• PM Anthony Albanese splits omnibus bill due to opposition, especially on hate speech laws post-Bondi attack (01:40).
• Contentious reforms include new powers on designating hate groups, extending visa restrictions, and customs authorities (01:45).
• Gun control reforms likely to pass; hate speech remains divisive.

Spain: Major Rail Crash

• Catastrophic train collision near Cordoba, Spain—death toll rises to at least 39 (01:54).
• Questions raised over modern rail safety after recent inspections.

Japan: Imminent Snap Election

• PM Sanae Takaichi (LDP) to dissolve parliament after only three months in power, leveraging high popularity to potentially regain a majority (02:13).
• New coalition machinations, concerns over cost of living and currency instability.

4. Inside the Forum: Swiss-American Relations & WEF Culture

Interview: Dr. Rahul Sagal, Swiss American Chamber of Commerce (02:37)

• Swiss Priorities:
  • Trade talks with US progressing; Switzerland not part of EU's retaliatory measures on Greenland.
  • Pharmaceuticals highlighted as a key industry affected by US market expectations.
• Switzerland’s “Good Offices” Role:
  • Switzerland mediates US-Iran affairs—this will factor in discussions between Swiss President Parmelin and Trump.
• WEF's Swiss Character & Dialogue Theme:

  "The spirit of dialogue is very important to understand... I'm looking forward to seeing how they cultivate it." — Dr. Rahul Sagal (02:55)

5. Culture & Lighter Stories

Milan Fashion Week Update (02:21)

• Focus on quiet, classic elegance—Zegna and anticipation for first Armani show since Giorgio Armani’s death.
• Armani deeply entwined with Milan’s identity; future direction remains sensitive.

Film & Oscars Preview (03:01)

• Six key films highlighted: “Hamnet,” “One Battle After Another,” “Sinners,” “Sentimental Value,” “Marty Supreme.”
• IMAX resurgence, last Sundance in Utah—move to Boulder, Colorado.

“Dull Men’s Club” (01:57)

• Lighthearted feature on celebrating the ordinary—Mars bars, sock drawers, and the “Joy of Missing Out.”

Notable Quotes & Timestamps

• On WEF Revitalization:

  "There was a sense Davos had lost its luster...that's going to be really interesting to see, what are going to be the big changes thanks to this new leadership." — Juliet Lindley (00:27)

• On Global Risks:

  "The number one risk was geoeconomic uncertainty, geoeconomic confrontation. And this was seen by all the respondents as the cause more likely to trigger the next global crisis." — Carlotta Rebelo (00:35)

• On European Resolve:

  "After a year of being pushed around...this could be a galvanizing thing for the whole of Europe." — Alexis Self (01:25)

• On Australia’s Reforms:

  "There does seem to be bipartisan...support for gun control reform. The issue though is these hate speech laws." — Katie Silver (01:43)

Timestamps — Major Segments

• Davos Scene & Security: 00:18–00:32
• WEF Leadership & Theme: 00:26–00:39
• Geoeconomic Risks, Tariffs, and Dialogue: 00:39–01:00
• Portugal Election Outcome: 00:56–01:02
• Reports from Copenhagen, Greenland: 01:20–01:33
• Australia: Reforms Debate: 01:40–01:52
• Spain: Train Crash: 01:54–02:00
• Japan Snap Election: 02:13–02:19
• Milan Fashion Week: 02:21–02:28
• Interview: Dr. Rahul Sagal, Swiss Amcham: 02:37–02:58
• Oscars & Film Roundup: 03:01–03:12

Tone & Style

The episode maintains Monocle’s signature blend of brisk, informed yet inviting commentary, with a dose of good humor even amidst global tumult. Guests offer nuanced, sometimes wry insights (“the beef is back...it’s muscular again”), while host Emma Nelson holds the segments together with professional warmth.

Conclusion

On the eve of a pivotal WEF, this episode delivers a comprehensive panorama of global business, politics, and culture—against the backdrop of rapid leadership changes, revived diplomatic tensions, and shifting alliances. The narrative is punctuated by on-the-ground perspectives, insightful analysis, and a keen awareness of the human stakes in this year's most consequential meetings.

Listeners come away with clear context, highlights, and a global sense of the week ahead—even without listening directly.