World Economic Forum wraps up in Davos

The annual World Economic Forum has wrapped up in Davos, Switzerland. A host of global challenges topped the agenda, including soaring prices.

About 2,700 delegates from governments and businesses took part from Monday through Friday. The forum was held under the theme, "Cooperation in a Fragmented World".

But top figures from Russia, China and the United States were largely absent.

At a session on Friday, European Central Bank President Christine Lagarde was quietly optimistic about the effort to tame inflation.

She cited China's shift away from the ultra-strict zero-COVID policy, but also warned that increased consumption in the country may put pressure on energy prices.

Former US Treasury Secretary Lawrence Summers said the world should not allow inflation to surge again. He warned of risks not just to the standard of living for low-income people, but also "cyclical stability".

Other big topics at the forum included climate change, and Russia's invasion of Ukraine.