Global elites descending on Davos for the World Economic Forum faced urgent warnings from Oxfam and the IMF on Monday that the international economy is at risk, as swelling inequality stokes public anger.

The rich and powerful from across the globe will flock to the ski resort town of Davos on the Swiss Alps for five days beginning Monday to discuss what's ailing the world amid fears of the global economy sleepwalking into a crisis, with more than 100 CEOs from India expected to be in attendance.

President Donald Trump on Thursday cancelled the US delegation's trip to the annual international conference at Davos, saying the officials were needed in Washington to tackle the shutdown of the federal government.