Klaus Schwab Pushes for Merger of State and Corporate Power at ASEAN Summit

World Economic Forum chairman Klaus Schwab is calling on governments around the world to start merging with megacorporations so they can end “the era of capitalism.”

Speaking at the 43rd asean Summit in Jakarta, Indonesia, on September 5, Schwab predicted that “private-public cooperation” would shift human civilization from “the era of capitalism to the era of talentism.” In other words, the merger of state and corporate power would soon replace free markets with an economic system run by central planners.

Globalist agenda: Many were wondering why the leader of a nongovernmental organization headquartered in Switzerland was present at the 43rd asean Summit, a summit for the 10 member states of the Association of Southeast Asian Nations. Yet Schwab often attends such summits in his quest to convince nations to surrender more authority to globalist bodies.

His World Economic Forum is calling for a “great reset” in the wake of the coronavirus pandemic. Instead of free markets, this globalist group says the world should implement wealth taxes, government regulations and infrastructure spending programs.

Fascist economics: Italian dictator Benito Mussolini believed fascism was the merger of state and corporate power,” so all should be alarmed by Professor Schwab’s plan. The economic system he is calling for resembles the socialist market economy of Juan Perón’s Argentina, Engelbert Dollfuss’s Austria, Augusto Pinochet’s Chile, Ante Pavelić’s Croatia, Pierre Laval’s France, Adolf Hitler’s Germany, Mussolini’s Italy and other corporatist states.

This system allows citizens to own businesses, but it replaces the hopes, incentives, freedoms and responsibilities of small business owners with the iron will of ruling elites.

Hidden past: These facts become more concerning when you realize that Professor Schwab has ties back to Nazi Germany. He was born in 1938 to Eugen Wilhelm Schwab, a director at a company that used slaves to manufacture key atomic bomb technologies for the Third Reich. Eugen was also a colleague of Dr. Hermann Abs, the most powerful commercial banker in the Third Reich.

According to Adam LeBor’s book Tower of Basel: The Shadowy History of the Secret Bank That Runs the World, Abs was arrested after World War ii but served only a three-month sentence. After his release, he helped German Chancellor Konrad Adenauer rebuild Germany. He then served as chairman at the first meeting of Schwab’s World Economic Forum (then called the European Management Forum) in 1972.

Prophecy says: Revelation 17 reveals that a religious entity will rise in the end time and become the guiding force over an economic powerhouse that intoxicates all nations with its wealth and splendor. “[T]he merchants of the earth have become rich through the abundance of her luxury” (Revelation 18:3; New King James Version).

The late Herbert W. Armstrong explained in Who or What Is the Prophetic Beast? that this religious entity is headquartered in Europe. Schwab’s efforts to reset the global economy and revive fascism could be tremendously significant. Europe will build an immensely powerful economy, not out of free-market principles but out of the elites’ iron will.

Learn more: Read “World Economic Forum: Fascism Revives.”