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As WEF gets underway, the list of world leaders not attending Davos speaks volumes

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A slew of heads of state, politicians and business moguls are set to attend the annual World Economic Forum in Davos , Switzerland .

However, a number of leaders are sidestepping the forum, including Indian Prime Minister Narendra Modi , Chinese President Xi Jinping and a handful of European leaders.

U.S. President-elect Donald Trump is expected to address the forum via video link on Thursday .

Many of the Western institutions in attendance have, in recent years , found themselves on the wrong side of a push against globalization by populist leaders like Trump .

Scholte: "There are various indicators that a site like the World Economic Forum isn't as strong a magnet as it might have been a couple of decades ago ".