1 00:00:02,066 --> 00:00:05,233 JUDY WOODRUFF: A small town in the Swiss Alps becomes a focus of world attention one week 2 00:00:05,233 --> 00:00:07,266 a year. 3 00:00:07,266 --> 00:00:11,233 Davos hosts the World Economic Forum, with a rarefied guest list of business tycoons, 4 00:00:13,133 --> 00:00:17,233 prime ministers, and this year, for the first time in nearly two decades, the president 5 00:00:17,233 --> 00:00:19,200 of the United States. 6 00:00:19,200 --> 00:00:23,700 Special correspondent Ryan Chilcote is there for us and has our look at this most alpine 7 00:00:24,300 --> 00:00:26,366 of summits. 8 00:00:26,366 --> 00:00:30,200 RYAN CHILCOTE: The heaviest snowfall in two decades, six feet dropped on the Swiss Alps 9 00:00:32,133 --> 00:00:35,533 in less than a week, didn't stop the World Economic Forum from getting under way. 10 00:00:35,533 --> 00:00:40,533 No, the main challenge for many of the 3,000 movers, shakers, scribes and gawkers, just 11 00:00:41,166 --> 00:00:42,700 getting here. 12 00:00:42,700 --> 00:00:43,933 WOMAN: No, I have never seen anything like this before. 13 00:00:43,933 --> 00:00:45,400 MARI SAWAI, Davos: It's a bit of a struggle. 14 00:00:45,400 --> 00:00:48,666 I didn't even bring snow boots, so I'm trying not to fall. 15 00:00:48,666 --> 00:00:52,700 RYAN CHILCOTE: This year's official theme is creating a shared future in a fractured 16 00:00:52,700 --> 00:00:54,233 world. 17 00:00:54,233 --> 00:00:56,933 Klaus Schwab is the forum's founder, now in its 48th year. 18 00:00:56,933 --> 00:00:59,700 KLAUS SCHWAB, Founder, World Economic Forum: The world is socially fractured. 19 00:00:59,700 --> 00:01:03,066 It's environmentally fractured. 20 00:01:03,066 --> 00:01:05,433 But it's also politically divided. 21 00:01:05,433 --> 00:01:10,433 So, what we want to do here is analyze, what are the reasons. 22 00:01:12,366 --> 00:01:15,400 But what is much more important is to afterwards search for solutions. 23 00:01:15,400 --> 00:01:20,166 RYAN CHILCOTE: The elite annual gathering is being held under tight security. 24 00:01:20,166 --> 00:01:25,166 There are some 70 heads of state there, hobnobbing with titans of industry and academia, celebrities 25 00:01:26,566 --> 00:01:27,900 and advocates. 26 00:01:27,900 --> 00:01:30,433 There's really nothing quite like it. 27 00:01:30,433 --> 00:01:33,900 In my first hour here, I bumped into the head of one of the world's largest jewelry companies, 28 00:01:33,900 --> 00:01:38,900 an entrepreneur starting his own cryptocurrency, and the head of a Brazilian biotech firm. 29 00:01:40,766 --> 00:01:43,866 Davos is where legacy businesses meet the disrupters, where developing and developed 30 00:01:43,866 --> 00:01:48,866 countries come together to network, to learn from one another and, of course, to do deals. 31 00:01:50,933 --> 00:01:55,733 Indian Prime Minister Narendra Modi's opening address called on countries to unite, while 32 00:01:55,733 --> 00:01:58,300 ignoring some of his country's own protectionist policies. 33 00:01:58,300 --> 00:02:02,400 NARENDRA MODI, Indian Prime Minister (through translator): Many societies and countries 34 00:02:02,400 --> 00:02:05,266 are becoming more and more focused on themselves. 35 00:02:05,266 --> 00:02:07,766 It feels like the opposite of globalization is happening. 36 00:02:07,766 --> 00:02:12,000 We will have to accept the fact that globalization is slowly losing it luster. 37 00:02:12,000 --> 00:02:16,800 RYAN CHILCOTE: The four-day meeting aims to tackle a number of pressing geopolitical issues, 38 00:02:16,800 --> 00:02:21,800 in addition to globalization, climate change, the migrant crisis, and gender equality. 39 00:02:22,933 --> 00:02:25,033 Canada's prime minister, Justin Trudeau: 40 00:02:25,033 --> 00:02:28,700 JUSTIN TRUDEAU, Canadian Prime Minister: We need to have a critical discussion on women's 41 00:02:28,700 --> 00:02:32,666 rights, equality and the power dynamics of gender. 42 00:02:32,666 --> 00:02:37,633 RYAN CHILCOTE: Global inequality is another major topic, said Christine Lagarde, the managing 43 00:02:37,633 --> 00:02:40,133 director of the International Monetary Fund. 44 00:02:40,133 --> 00:02:42,300 CHRISTINE LAGARDE, Managing Director, International Monetary Fund: There are still too many people 45 00:02:42,300 --> 00:02:46,000 who are left out of that recovery and acceleration of growth. 46 00:02:46,000 --> 00:02:51,000 RYAN CHILCOTE: The week's most anticipated speaker is perhaps its unlikeliest, President 47 00:02:53,000 --> 00:02:55,733 Trump, who'll be rubbing elbows with the very same folks he berated on the campaign trail. 48 00:02:55,733 --> 00:03:00,433 DONALD TRUMP, President of the United States: This wave of globalization has wiped out totally, 49 00:03:00,433 --> 00:03:02,533 totally our middle class. 50 00:03:02,533 --> 00:03:06,666 RYAN CHILCOTE: It's the first time a sitting U.S. president has attended the forum since 51 00:03:06,666 --> 00:03:09,166 Bill Clinton in 2000. 52 00:03:09,166 --> 00:03:11,600 Mr. Trump is bringing much of his team here. 53 00:03:11,600 --> 00:03:16,400 Top White House advisers previewed the trip yesterday, and were asked, in essence, why 54 00:03:16,400 --> 00:03:20,600 he's going to a forum that goes against his America first agenda. 55 00:03:20,600 --> 00:03:22,633 Economic adviser Gary Cohn: 56 00:03:22,633 --> 00:03:24,800 GARY COHN, Presidential Economic Adviser: America first is not America alone. 57 00:03:24,800 --> 00:03:29,800 The president is going to Davos to speak to world leaders about investing in the United 58 00:03:31,766 --> 00:03:33,300 States, moving businesses to the United States, hiring American workers. 59 00:03:33,300 --> 00:03:37,866 RYAN CHILCOTE: President Trump won't be welcomed by everyone. 60 00:03:37,866 --> 00:03:42,866 Protesters routinely blast the invitation-only conference, arguing it's an unabashed celebration 61 00:03:43,600 --> 00:03:46,166 of capitalism gone awry. 62 00:03:46,166 --> 00:03:47,900 ALEX HEDINGER, Protester: We have been protesting all the years now against the World Economic 63 00:03:47,900 --> 00:03:51,300 Forum, and if Trump comes or not, we don't care. 64 00:03:51,300 --> 00:03:55,300 Trump is just -- maybe he's the best symbol for this world. 65 00:03:55,300 --> 00:03:59,266 RYAN CHILCOTE: President Trump gets the final word when he delivers the closing address 66 00:03:59,266 --> 00:04:00,800 on Friday. 67 00:04:00,800 --> 00:04:04,333 For the "PBS NewsHour," I'm Ryan Chilcote in Davos.