The theme of this year’s annual get-together of business and political leaders in Davos is “Shared norms for the new reality”.
One of the main examples of that new reality is the shift in political and economic power from West to East and North to South, according to Klaus Schwab, the founder and chairman of the World Economic Forum that organises the meeting. The change, cemented by the economic crisis, will cause upheaval, he told reporters.
The annual shindig of the great and good from the corporate, banking and political worlds in Davos is always a rich hunting ground for connoisseurs of business jargon.
This year’s meeting of the World Economic Forum is no exception.
The theme of the meeting is “Shared norms for the new reality” — which translated means the world has got a lot nastier, or at least different, and how do we deal with all the new threats?
GENEVA (Reuters) – The world is suffering from “global burnout syndrome” and is too weak to tackle the web of interrelated threats facing businesses and governments, the head of the World Economic Forum said on Wednesday.
Klaus Schwab, who chairs the WEF that organizes the annual meeting of executives and politicians at Davos, said the world had not yet fully digested the crisis that emerged from the financial crunch, and was not yet in post-crisis phase.
GENEVA (Reuters) – A World Trade Organization panel backed South Korea on Tuesday in a challenge to a controversial U.S. method for calculating duties on unfairly priced imports, after the United States offered no defense in the dispute.
The ruling is the latest in a series of defeats for the United States over zeroing, a method of calculating anti-dumping duties that is opposed by all other WTO members.
GENEVA, Jan 17 (Reuters) – Developing countries and
economies in transition together attracted more foreign
investment than developed countries in 2010 for the first time,
a United Nations study showed on Monday.
The report by the United Nations Conference on Trade and
Development (UNCTAD) was further evidence that economic recovery
is more robust in developing than in rich countries.