China's Vice-Premier Ding Xuexiang at the 55th annual World Economic Forum meeting in Davos, Switzerland, January 21, 2025. REUTERS/Yves Herman China does not pursue a trade surplus and is willing to import more competitive and high-quality products and services to balance trade, Ding Xuexiang, the country's vice premier, said on Tuesday.

A speech by the U.N. chief, economic growth potential in places like China and Russia, the challenges of artificial intelligence, and appearances by leaders from Spain to Malaysia are set to headline the agenda at the World Economic Forum's annual event in Davos on Wednesday.

The World Economic Forum has held a meeting every year since it was founded in 1971. But why is Davos, as it is commonly known, so significant?