Elite Flock to Davos to Discuss Economic Crisis
January 26th, 2009The birthing-a-New-Word-Order theme is strong this n0oZ cycle.
Via: Reuters:
Political leaders and central bankers will dominate this week’s annual Davos forum as a chastened business elite is sidelined in the drive to reboot the world economy, improve global security and slow climate change.
More than 40 heads of state and government — almost double the number last year — will be joined by 36 finance ministers and central bankers, including the central bank chiefs of all the G8 group of rich countries except the United States.
About 1,400 business executives will also be in Davos but fewer top bankers and captains of industry are expected as they struggle to keep their businesses afloat — and themselves in a job, mindful of the event’s glitzy image in more austere times.
“The pendulum is swinging back to governments now we’re grappling with recession,” said Thomas Mayer, Deutsche Bank economist. “We’re going into a period where more government involvement will mean lower growth and higher inflation.”
Russian Prime Minister Vladimir Putin will open the four-day meeting on Wednesday in the Swiss Alpine resort that is being organized under the title “Shaping the Post-Crisis world.”
…
Klaus Schwab, the forum’s founder and chairman, said the meeting would be a chance for leaders to think about the kind of world they wanted to see emerge when the crisis is over.
“What we are experiencing is the birth of a new era, a wake-up call to overhaul our institutions, our systems and, above all, our way of thinking,” he said.
