Klaus Schwab Says the World Will No Longer Be Run by Superpowers Like America

SCHWAB: “We should bring here again, let’s say a differentiation. On the one hand, we have state capitalism, on the other hand, we have shareholder or private capitalism. So it’s a clash between two systems. I — I believe that state capitalism in the short-term — in the short-term provides certain advantages, because you can mobilize in a concentrated way, a lot of resources to reach a specific objective, but I believe the future is not state capitalism or shareholder capitalism, the future is what I call stake holder capitalism, which is combined with a social responsibility.”