Even if most of the world’s eyes remain fixed on the events in Egypt, worth a look and on another important event – the World Economic Forum (WEF) in Davos.
The 41st edition of the WEF gathered for six days (25 – 30 January 2011) the all «heavyweights» of world economy and policy makers (heads of state, governors of banks) around the world with the stated purpose of establishing the 2011 economic targets and the steps to go for their performance. The central theme of the event – “Common rules for the new reality” has focused discussion ′s agenda of this year on economic policy coordination in the strategies of states and the measures to be implemented to overcome the difficulties caused by the economic crisis. And the conclusion is not very happy. Beyond the new financial order and improvements made since the start of the financial crisis in 2008, many risks remain and it would take little to create a fresh crisis.
And if the economy creaks from all hinges, even the presence of ladies to delight the eye. The World Economic Forum has introduced a minimum quota for female executives at its Davos conference at the end of this month, following criticism that too few women attend the exclusive gathering of global business leaders.
“The world is fundamentally changed, the world economy mean”, the founder and chairman of the World Economic Forum, Klaus Schwab, told AFP in accept “these fundamental changes, the most important factor is geopolitics power and geo-strategic economic strength is also from developed countries to developing countries, from west to east. This not only transfer direction will affect political and economic, the whole world will be experiencing a surprising change”. Among European leaders who were present at Davos were the Chancellor Angela Merkel, French President Nicholas Sarkozy, Italian Prime Minister Silvio Berlusconi. And Russian President Dmitry Medvedev (whose statements about WikiLeaks disclosures made mass-media delight 🙂 ). Much more discreet was U.S. delegation – led by Timothy Geithner, U.S. Treasury Secretary. In fact, forecasts of experts say that the stagnant US economy will suffer from high and persistent unemployment that will probably minimize recovery and challenge political stability. In contrast, China had the largest delegation in Davos, led by Deputy Li Keqiang according to “China Daily”. Normal. At least in theory, the outlook for the Chinese economy are good. Economists had forecast that China‘s economy will continue to maintain in 2011 high-growth momentum. More, 2011 coincide with the 10th anniversary of China‘s accession to the world trade organization. In the past decade, the Chinese foreign trade rapid development, China has become the world‘s biggest exporter and the second biggest importer. Financial crisis, China has become the most important global economic growth to pull the engine, China‘s economy has become what impact on global economic recovery pace of an important factor. And in the global political and economic situation, China with adjustment of economic strength, the rise of global economic contribution increases unceasingly, status is also on the rise.
Economists predict that the coming decades, the emerging economies of economic growth will continue to lead the world. Standard chartered bank‘s chief economist global research Gerard Lyons forecast, by 2030, global GDP could be as high as 143 trillion dollars. By exchange rate and inflation factors, 2010 global GDP for 62 trillion dollars. Among them, China and other emerging economies contribution to account for two-thirds of the total. Economists believe that developed countries will benefit the emerging market countries economic growth, because more and more emerging markets and invest overseas to hire more labor, to reduce the developed country unemployment to contribute.
So, according Andrew Reinbach from The Huffington Post: “That means you’ll have to make the emerging economies play or lose money. It’s not your job to solve the long-term, structural economic crisis on the home field — your job is to survive. And those choices are limited now, even if matters are veering disturbingly close to Lenin’s dictum — that when the time came, capitalists would sell him the rope to hang them”.