The Magic Mountain, Thomas Mann’s classic novel set in Davos against the backdrop of a deadly disease and an impending world war, was published almost a century ago.

But, as World Economic Forum delegates gather again in Davos this year, Mann’s world feels uncomfortably close to our own. The fear haunting the WEF is that a long period of peace, prosperity and global economic integration could be coming to a close — just as it did in 1914.

This year’s Davos slogan is “Cooperation in a fragmented world”. That fragmentation began with Covid-19 — with its lockdowns, closed borders and disrupted supply chains. So, the 2023 WEF — the first to take place in its regular winter location since the pandemic began — could be seen as signalling a return to normalcy. However, China’s sudden abandonment of its zero-Covid policy has raised fears that a new wave of variants could emerge.