Hope in a few
William Henry previews this years World Economic Forum General Meeting Davos Switzerland19/11/2008 | By William Henry
Most AGMs, regional conferences, party seminars are greeted with scepticism, doubt and a degree of contempt from the world’s media. Human nature imposes us to tax our fellow man when the individual has been silenced. Funny that we could be so discerning of those who place themselves under the umbrella of thought leader, in order to attempt to create a more perfect world for her citizens.
Yet, under the critical gaze of the general public, there is little room for faux pas, as is evident from many political rallies or televised forums in which those announcing themselves and their ideas onto the global sphere should be ripe for the picking. Such is the global view of those placing themselves on the high pedestal of international thought leader. Indeed, Big Brother is the man sitting in front of the television, the woman on the train reading the paper – not these few who put themselves forward to cure what ails the world. Results from such public broadcasts, meetings and the like, must be affirmative, beneficial for all and sundry. Without seeming to pierce one’s ear for the sound of the hoofs of the four horsemen, it seems unlikely that a single round-table of the world’s finest minds can offer the immediate solutions that the world’s critical masses demand.
The state of world markets, the silence that permeates so ominously from Al Qaeda and the unfortunate but necessary requirement to shove the global warming issue to the back of our minds all make the politicians and so-called “thought leaders’” job just a little more difficult. Place them in the public eye and one can only imagine that during troubled times like this, snags can be attracted like a fiddler to a square dance. With such a great fall almost inevitable, one must of course consider the fame and fortune that can be reaped on those who actually offer any reasonable solutions whatsoever. Unless, of course, they can provide the conclusions the global pavilion needs to these many faceted and seemingly endless string of concerns.
But if any of these issues can be clarified anywhere, it’s at the World Economic Forum’s Annual Meeting in Davos, Switzerland. The frosty atmosphere of world markets is matched only by the climate in the now infamous small town, the destination made somewhat of a traditional locale for the grand affair.
We attended last year’s meeting, which focused on food prices across the world, with speakers such as Josette Sheeran, World Food Programme Executive Director; Robert Zoellick, President of the World Bank; Ban Ki-moon, UN Secretary General and Peter Bakker, CEO of TNT. These industry leaders offered their own views on the progressions and transgressions of hunger in the twenty-first century. The impact of the meeting was a more focused aim to address these problems, and for some time nation’s leaders delved into the subject, only for the debacles across markets to force politicians to reassess situations closer to home. The movement that permeated from that meeting was unfortunately wryly cut short due to the unexpected turbulence thrown up by markets over the last twelve months.
The spiralling loss of confidence was not quite at the stage it would reach at Davos last year, yet it seemed that there was an underlying sense that something dramatic was about to happen. Indeed, many seemed optimistic that a shift in trade would benefit the world, even as the tough times were in their infant stages. “When this is over we will wake up and realise that the issue is that the transformation of wealth and information and industrial activity is taking place at a pace none of us has ever experienced,” said Michael S Klein, Chairman and Co-Chief Executive Officer of Markets and Banking at Citi. Or as Kishore Mahbubani, Dean of the Lee Kuan Yew School of Public Policy, put it: “We are entering a completely new era of world history – the end of Western domination. In the Industrial Revolution there was a rapid increase in living standards of 50 percent in one lifetime. In Asia today in one lifetime you will see an increase of 10,000 percent”.
Rising to the challenge
Perhaps with that in mind, and with great emphasis on the words “uncertainty” and “complexity”, 2009’s forum will focus on solutions and how to attain them on a global front.
The challenge set by the organisers of this year’s meeting is to conform to the idea that globalisation is a notion we should grasp, leaping national boundaries and allowing for intergovernmental strategies to solve these many challenges. As markets fall apart on the global front, the WEF believes it should be in this global sphere that we rise to the challenge. Of course this noble cause has been advocated by some of the world’s real thought leaders, who will seek to enlighten corporations and nations alike on the way to progress in the face of adverse conditions. Analysts such as Nouriel Roubini, who predicted the current downturn in markets, is expected to offer his opinion on what should be done by those who have the power to steady the financial ship. Within that, many of his colleagues will debate and confront price fluctuations and supplies. Many leading scientists are expected in order to answer the question:
How can science literacy and policy-making be improved so that advances in engineering, medicine, nanotechnology, genetics and computer science are not perceived as threatening our ethics, humanity or civil liberties? Also offering their opinions to these issues will be Russian Prime Minister Vladimir Putin and WEF co-Chair and CEO of News Corporation Rupert Murdoch.
Collaborative innovation
Many are optimistic about 2009’s meeting. Indeed, many see the meeting as particularly important for the future of nations. Suzan Sabancı Dinçer, Chairman and Managing Director of Akbank, said recently, “We believe the region of Europe and Central Asia should adopt a more liberal approach, reducing the role of the public sector in their economies, supporting the private sector, investment climate, corporate governance and enhancing financial deepening.” What she offers to 2009’s meeting, and who will agree with her, will stimulate much interest and possibly draw a line between those supporters of a global community and those against. The issue of globalisation, its pros and cons, will surely be at the forefront of participants’ minds. Speaking volumes may well be the distinct lack of an American presence, who rarely send someone from the White House. Instead, many anticipate someone from the old administration to offer their presence. And whilst George W. Bush might have started his retirement months ago, many have piped Condoleezza Rice to offer her opinion on global affairs.
2009’s summit could be the most important to date – if it goes well, that is. As Jean Lemierre, Senior Advisor to the Chairman, BNP Paribas Group, France, Co-Chair of the World Economic Forum on Europe and Central Asia 2008 said recently, “This is a time when business leaders have questions and they need to listen to each other and work together in order to understand what needs to be done. No one will win by working alone.” Let’s hope the good intentions become realities.
