WEBVTT 00:02.066 --> 00:05.233 align:left position:10%,start line:77% size:80% JUDY WOODRUFF: A small town in the Swiss Alps becomes a focus of world attention one week 00:05.233 --> 00:07.266 align:left position:40%,start line:89% size:50% a year. 00:07.266 --> 00:11.233 align:left position:10%,start line:77% size:80% Davos hosts the World Economic Forum, with a rarefied guest list of business tycoons, 00:13.133 --> 00:17.233 align:left position:10%,start line:77% size:80% prime ministers, and this year, for the first time in nearly two decades, the president 00:17.233 --> 00:19.200 align:left position:20%,start line:89% size:70% of the United States. 00:19.200 --> 00:23.700 align:left position:10%,start line:77% size:80% Special correspondent Ryan Chilcote is there for us and has our look at this most alpine 00:24.300 --> 00:26.366 align:left position:30%,start line:89% size:60% of summits. 00:26.366 --> 00:30.200 align:left position:10%,start line:77% size:80% RYAN CHILCOTE: The heaviest snowfall in two decades, six feet dropped on the Swiss Alps 00:32.133 --> 00:35.533 align:left position:10%,start line:77% size:80% in less than a week, didn't stop the World Economic Forum from getting under way. 00:35.533 --> 00:40.533 align:left position:10%,start line:77% size:80% No, the main challenge for many of the 3,000 movers, shakers, scribes and gawkers, just 00:41.166 --> 00:42.700 align:left position:30%,start line:89% size:60% getting here. 00:42.700 --> 00:43.933 align:left position:10%,start line:83% size:80% WOMAN: No, I have never seen anything like this before. 00:43.933 --> 00:45.400 align:left position:20%,start line:83% size:70% MARI SAWAI, Davos: It's a bit of a struggle. 00:45.400 --> 00:48.666 align:left position:10%,start line:83% size:80% I didn't even bring snow boots, so I'm trying not to fall. 00:48.666 --> 00:52.700 align:left position:10%,start line:77% size:80% RYAN CHILCOTE: This year's official theme is creating a shared future in a fractured 00:52.700 --> 00:54.233 align:left position:40%,start line:89% size:50% world. 00:54.233 --> 00:56.933 align:left position:10%,start line:83% size:80% Klaus Schwab is the forum's founder, now in its 48th year. 00:56.933 --> 00:59.700 align:left position:10%,start line:77% size:80% KLAUS SCHWAB, Founder, World Economic Forum: The world is socially fractured. 00:59.700 --> 01:03.066 align:left position:10%,start line:89% size:80% It's environmentally fractured. 01:03.066 --> 01:05.433 align:left position:20%,start line:83% size:70% But it's also politically divided. 01:05.433 --> 01:10.433 align:left position:10%,start line:83% size:80% So, what we want to do here is analyze, what are the reasons. 01:12.366 --> 01:15.400 align:left position:10%,start line:77% size:80% But what is much more important is to afterwards search for solutions. 01:15.400 --> 01:20.166 align:left position:10%,start line:77% size:80% RYAN CHILCOTE: The elite annual gathering is being held under tight security. 01:20.166 --> 01:25.166 align:left position:10%,start line:71% size:80% There are some 70 heads of state there, hobnobbing with titans of industry and academia, celebrities 01:26.566 --> 01:27.900 align:left position:30%,start line:89% size:60% and advocates. 01:27.900 --> 01:30.433 align:left position:20%,start line:83% size:70% There's really nothing quite like it. 01:30.433 --> 01:33.900 align:left position:10%,start line:71% size:80% In my first hour here, I bumped into the head of one of the world's largest jewelry companies, 01:33.900 --> 01:38.900 align:left position:10%,start line:77% size:80% an entrepreneur starting his own cryptocurrency, and the head of a Brazilian biotech firm. 01:40.766 --> 01:43.866 align:left position:10%,start line:77% size:80% Davos is where legacy businesses meet the disrupters, where developing and developed 01:43.866 --> 01:48.866 align:left position:20%,start line:71% size:70% countries come together to network, to learn from one another and, of course, to do deals. 01:50.933 --> 01:55.733 align:left position:10%,start line:77% size:80% Indian Prime Minister Narendra Modi's opening address called on countries to unite, while 01:55.733 --> 01:58.300 align:left position:10%,start line:83% size:80% ignoring some of his country's own protectionist policies. 01:58.300 --> 02:02.400 align:left position:10%,start line:77% size:80% NARENDRA MODI, Indian Prime Minister (through translator): Many societies and countries 02:02.400 --> 02:05.266 align:left position:10%,start line:83% size:80% are becoming more and more focused on themselves. 02:05.266 --> 02:07.766 align:left position:10%,start line:83% size:80% It feels like the opposite of globalization is happening. 02:07.766 --> 02:12.000 align:left position:10%,start line:77% size:80% We will have to accept the fact that globalization is slowly losing it luster. 02:12.000 --> 02:16.800 align:left position:10%,start line:77% size:80% RYAN CHILCOTE: The four-day meeting aims to tackle a number of pressing geopolitical issues, 02:16.800 --> 02:21.800 align:left position:10%,start line:77% size:80% in addition to globalization, climate change, the migrant crisis, and gender equality. 02:22.933 --> 02:25.033 align:left position:20%,start line:83% size:70% Canada's prime minister, Justin Trudeau: 02:25.033 --> 02:28.700 align:left position:10%,start line:77% size:80% JUSTIN TRUDEAU, Canadian Prime Minister: We need to have a critical discussion on women's 02:28.700 --> 02:32.666 align:left position:10%,start line:83% size:80% rights, equality and the power dynamics of gender. 02:32.666 --> 02:37.633 align:left position:10%,start line:77% size:80% RYAN CHILCOTE: Global inequality is another major topic, said Christine Lagarde, the managing 02:37.633 --> 02:40.133 align:left position:10%,start line:83% size:80% director of the International Monetary Fund. 02:40.133 --> 02:42.300 align:left position:10%,start line:71% size:80% CHRISTINE LAGARDE, Managing Director, International Monetary Fund: There are still too many people 02:42.300 --> 02:46.000 align:left position:20%,start line:77% size:70% who are left out of that recovery and acceleration of growth. 02:46.000 --> 02:51.000 align:left position:10%,start line:77% size:80% RYAN CHILCOTE: The week's most anticipated speaker is perhaps its unlikeliest, President 02:53.000 --> 02:55.733 align:left position:10%,start line:77% size:80% Trump, who'll be rubbing elbows with the very same folks he berated on the campaign trail. 02:55.733 --> 03:00.433 align:left position:10%,start line:71% size:80% DONALD TRUMP, President of the United States: This wave of globalization has wiped out totally, 03:00.433 --> 03:02.533 align:left position:10%,start line:89% size:80% totally our middle class. 03:02.533 --> 03:06.666 align:left position:10%,start line:77% size:80% RYAN CHILCOTE: It's the first time a sitting U.S. president has attended the forum since 03:06.666 --> 03:09.166 align:left position:20%,start line:89% size:70% Bill Clinton in 2000. 03:09.166 --> 03:11.600 align:left position:20%,start line:83% size:70% Mr. Trump is bringing much of his team here. 03:11.600 --> 03:16.400 align:left position:10%,start line:77% size:80% Top White House advisers previewed the trip yesterday, and were asked, in essence, why 03:16.400 --> 03:20.600 align:left position:20%,start line:77% size:70% he's going to a forum that goes against his America first agenda. 03:20.600 --> 03:22.633 align:left position:10%,start line:89% size:80% Economic adviser Gary Cohn: 03:22.633 --> 03:24.800 align:left position:10%,start line:77% size:80% GARY COHN, Presidential Economic Adviser: America first is not America alone. 03:24.800 --> 03:29.800 align:left position:10%,start line:77% size:80% The president is going to Davos to speak to world leaders about investing in the United 03:31.766 --> 03:33.300 align:left position:10%,start line:77% size:80% States, moving businesses to the United States, hiring American workers. 03:33.300 --> 03:37.866 align:left position:10%,start line:83% size:80% RYAN CHILCOTE: President Trump won't be welcomed by everyone. 03:37.866 --> 03:42.866 align:left position:10%,start line:71% size:80% Protesters routinely blast the invitation-only conference, arguing it's an unabashed celebration 03:43.600 --> 03:46.166 align:left position:20%,start line:89% size:70% of capitalism gone awry. 03:46.166 --> 03:47.900 align:left position:10%,start line:71% size:80% ALEX HEDINGER, Protester: We have been protesting all the years now against the World Economic 03:47.900 --> 03:51.300 align:left position:10%,start line:83% size:80% Forum, and if Trump comes or not, we don't care. 03:51.300 --> 03:55.300 align:left position:10%,start line:83% size:80% Trump is just -- maybe he's the best symbol for this world. 03:55.300 --> 03:59.266 align:left position:10%,start line:77% size:80% RYAN CHILCOTE: President Trump gets the final word when he delivers the closing address 03:59.266 --> 04:00.800 align:left position:30%,start line:89% size:60% on Friday. 04:00.800 --> 04:04.333 align:left position:10%,start line:83% size:80% For the "PBS NewsHour," I'm Ryan Chilcote in Davos.