At the Davos elite dinner, "globalism" is being publicly reckoned with.

U.S. Commerce Secretary Rutnik launched a fierce attack on globalism at a private dinner at the Davos World Economic Forum, declaring that the ideology is "dead" and directly pointing to the harm it has caused to the American middle class. The elite dinner, hosted by BlackRock CEO Larry Fink, became a site of sharp clashes between new and old economic order ideas.

On January 22, according to media reports, Rutnik’s speech focused on how globalism has hollowed out American communities, excessive European regulation hinders growth, and the contradictions of EU energy policy. These remarks mark the Trump administration’s public questioning of the post-war international economic order, possibly signaling major adjustments to global trade and regulatory frameworks.

The report noted that, according to sources, although former U.S. Vice President Gore strongly disagreed with Rutnik’s remarks, most senior executives from Wall Street and the government present actually agreed with his core viewpoint. As Rutnik finished his speech and walked off the stage, Gore approached him and said "Boo," trying to spook him. After leaving government, Gore became one of globalism’s main advocates and a strong promoter of the net zero emissions policy.

Notably, according to Xinhua News Agency reports, WTO Director-General Dr. Okonjo-Iweala on the 22nd in Davos, Switzerland, strongly condemned the current rise of global trade protectionism, and called on all sides to resolve disputes through dialogue.

Analysts pointed out that the clash at this dinner suggests that under the leadership of the new Trump administration, the United States may drive major shifts to the global economic governance framework, and the acceptance of such shifts among business and political elites could exceed outside expectations.

Globalism Faces Direct Challenge

According to reports, at this Tuesday dinner attended by hundreds of invitees, Rutnik gave sharp criticisms of globalism—an ideology that puts global concerns above national interests.

He pointed out that globalism has harmed the interests of the American middle class, with factories relocating to regions in Asia with cheaper labor, hollowing out entire communities.

According to media reports, Rutnik made it clear that globalism had failed to the extent that “it is now dead.” This declaration represents the Trump administration’s fundamental rejection of the international economic policy concepts that have dominated the past few decades.

Rutnik pointed the finger at the EU’s regulatory and tax systems, saying these policies have troubled the European economy for years, hindering growth and technological advancement.

He stated that if the EU reforms its tax and administrative systems, American tech giants will flock there.

It was reported that people present revealed these comments were greeted with nods of agreement from many in the audience. Rutnik’s perspectives directly addressed the core issue behind Europe’s lagging tech industry—overregulation stifling innovation and weakening competitiveness.

Rutnik also questioned Europe’s environmental policies. He pointed out that if Europe wants to continue pushing strict environmental standards—specifically achieving net zero carbon emissions by 2036—it needs to rethink the way it pursues these goals.

Onsite Reaction: More Resonance Than Resistance

According to reports, insiders clarified rumors that the speech sparked protests. Sources close to Rutnik said that aside from Gore’s personal reaction, there was no such mass walkout or booing onsite.

Gore, an environmental hawk, became a main promoter of globalism after leaving government.

His strong reaction to Rutnik’s comments contrasted sharply with the agreeable attitude of most in attendance, showing that the global elite are re-examining the consensus around economic policies of the past few decades.

Sources close to Rutnik said, “Unless you count Gore, there was no mass walkout or booing.”

This detail reveals subtle divides among the Davos elite: the ideological conflict between traditional proponents of globalism and representatives of the new administration has not received the widespread support some anticipated.

The report indicated that, according to sources, although these remarks were controversial, many heavyweight figures from Wall Street and the government present actually agreed with his core arguments. “No one left the event during the speech as some reports claimed,” said one source close to Rutnik.

There were previous claims that ECB President Lagarde left during the speech, but multiple sources stated that she left early because she was exhausted after long meetings at the World Economic Forum. “That’s just fake news,” added a source close to Rutnik.

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