Davos day three: Keir Starmer says Rishi Sunak should not have missed economic conference – live

LIVE – Updated at 16:48 Rolling coverage of the World Economic Forum in Davos, where Labour leader says ‘absence of the UK’ has been pressed on him during

his meetings. Roubini: Davos elites need to wake up to ‘megathreats’ the world is facing 16:48 A host of interconnected “megathreats” is imperilling our

future, and those in Davos need to wake up to them, warns economist Nouriel Roubini. He writes: While some of these have been long in the making, others

are new. The stubbornly low inflation of the pre-pandemic period has given way to today’s excessively high inflation. Secular stagnation – perpetually low growth owing to weak

aggregate demand – has evolved into stagflation, as negative aggregate supply shocks have combined with the effects of loose monetary and fiscal policies. Where once

interest rates were too low – or even negative – they have now been rising fast, driving up borrowing costs and creating the risk of cascading debt crises. The age of

hyper-globalisation, free trade, offshoring, and just-in-time supply chains has yielded to a new era of deglobalisation, protectionism, reshoring (or “friend-shoring”), secure

trade and “just-in-case” supply-chain redundancies. Related: Davos elites need to wake up to 'megathreats' the world is facing | Nouriel Roubini  

16:46 We started this morning with Boris Johnson’s call for more military help for Ukraine. And now, Netherlands defence minister Kajsa Ollongren has said her

country is finalising plans to provide Patriot air defence systems to Ukraine with Germany and the United States and will announce further military support to Kyiv on Friday.