Davos 2018: Donald Trump booed over 'fake news' comments as global summit draws to a close - as it happened
Delegates also debated cyber warfare, human rights and the merits of guaranteed basic incomes
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Your support makes all the difference.Donald Trump has made his first speech at the World Economic Forum in Davos today, bringing his "America First" message to political and business leaders from across the globe.
The US President has preached a doctrine of trade that is "fair" to his country, pulling out of the Trans-Pacific Partnership and pushing for new deals on trips abroad.
Mr Trump landed in Davos on Thursday and met with leaders including Theresa May, following a week of warnings by top European figures on the dangers of isolationism and nationalism. He flew back to the US after his Friday speech.
That's a wrap, folks! Thanks for reading, and joining us on this wild ride through the final day of Davos.
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Delegates also debated cyber warfare, human rights and the merits of guaranteed basic incomes. A panel has already heard today that depression must be "destigmatised" to counter a problem that affects 320 million people worldwide.
From our economics editor Ben Chu:
Donald Trump told the WEF's founder Klaus Schwab that the US stock market was up "50 per cent" since his election, jibing that it would have fallen 50 per cent if Hillary Clinton had won.
Problem is, this is fake news. The US stock market is actually up only 31 per cent since he won.
While Trump's victory - along with his deregulation and tax cuts - do seem to have lifted US equity values, European stock markets are also up by even more since November 2016.
US stock valuations are up, in some part, because the global economy is recovering.
A short clip from Mr Trump's speech in which he declared America "open for business".
IMF boss Christine Lagarde has just told Davos delegates that the global economy is in a "sweet spot", with some 120 countries expected to show strong growth this year.
A little more from John McDonnell's adventures at the WEF...
The Shadow Chancellor was asked an awkward question at Davos about the economic and social disintegration in Venezuela, whose radical left-wing government he and Jeremy Corbyn had previously enthusiastically supported.
Is the Venezuelan disaster not evidence that capitalism, for all its faults, is better than socialism?
Mr McDonnell denied the premise of the question.
“To be frank it’s not that the issue is socialism versus capitalism. What happened in Venezuela is that they took a wrong turn.
"All the objectives of [former President Hugo] Chavez in terms of talking inequality, investing in education, developing peoples’ skills would have been successful if they had actually mobilised the oil resources to actually invest in the long term – and yes mobilising the private sector as well.”
Mr McDonnell also said that Venezuela had failed to learn the lessons of the UK in the 1980s.
“We squandered our oil resources as well. We allowed private profits to take the benefit of that, rather than in Norway where they set up a sovereign wealth fund. They took a wrong turn and not a particularly effective path and not a socialist path.”
Global economic recovery is broadening and strengthening, according to Bank of England governor Mark Carney.
"It's also healthier. In terms of the acceleration of G7 growth in the last year, 80 per cent-plus of that has been investment picking up and net trade picking up. This is not a consumer boom-led recovery, this acceleration", he added.
Continuing on the theme of the economy picking up, Mr Carney said: "If you look at wage behaviour in the US, in the UK ... You see that firming of wages which, once you adjust for poor productivity growth and some under-employment and, up until recently, a very low level of churn in the labour market, it starts to fit together at least directionally."
Here our economics editor Ben Chu examines Donald Trump's strong rhetoric around trade.
The US President devoted a large portion of his speech to the topic and said trade must be fair and reciprocal.
Carrie Lam, the chief executive of the Hong Kong special administrative region, has been asked about Donald Trump's attacks on intellectual property infringement and governmental subsidy of industry.
Mr Trump did not name particular countries but it was put to Ms Lam that he was talking about China. She was asked whether she feared an open trade war.
She said: "Being such an externally-oriented economy and so dependent on free trade we would not like to see any trade conflict or trade wars, so to speak.
"Coming back to China ... From President Xi [Jinping]'s discussions in the two speeches, China is still a developing economy, so it will evolve and build in those things that will make trade more transparent and fairer. Fairness must be to everybody."
Donald Trump has departed Switzerland and is due back at the White House later today.
In addition to his address to the WEF, he held talks with the leaders of Britain, Israel, Switzerland and Rwanda during the Davos summit, and had dinner with European business executives in the interest of encouraging them to invest in the US
Next week, he is due to deliver his first State of the Union address.
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