Davos summit to probe into world's underlining issues: Schwab

Source:Xinhua Published: 2014-1-16 11:20:36

The World Economic Forum (WEF) Annual Meeting scheduled for January 22-26 in Davos of Switzerland would be a platform for global elites to probe into a variety of underlining issues in today's world, said founder of WEF on Wednesday.

Addressing a pre-event press conference, Klaus Schwab, founder and executive chairman of WEF, summarized the characteristics of current global context with three phrases-- cautious optimism, diminished expectations, and many known unknowns.

The confidence into the world's economic performance is slowly coming back, but there are many problems that remain to be solved such as large fiscal deficits faced by many countries, Schwab said.

He predicted that in the coming period, maybe 5 to 10 years, a relatively slow growth is coming, but even if the world would get out of the crisis, the growth rate would not be restored to the pre-crisis level.

Schwab said people now have questions in want of responses.

He warned that the failure to address the so-called global-destiny challenges, such as social inclusion and job creation, would influence the whole destiny of humankind.

Noting that the world is still caught in a crisis management mood, he said this year's Davos annual meeting is designed to push the reset button, trying to address fundamental and underlining development issues in addition to focusing on one single crisis and hot issues in these days.

"We forget that we should look for solutions for the really fundamental issues, we should look at our future in a much more constructive, [and] in a much more strategic way," said Schwab. "That is what Davos is about."

Over 2,500 participants from almost 100 countries, including more than 1,500 business leaders and over 40 heads of state or government, will participate this year's annual meeting themed "Reshaping of the World: Consequences for Society, Politics and Business."

According to WEF, political figures at the event will include David Cameron, Prime Minister of Britain; Tony Abbot, Prime Minister of Australia and 2014 Chair of the G20; Enrique Pena Nieto, President of Mexico; Park Geun-Hye, President of the Republic of Korea; and Shinzo Abe, Prime Minister of Japan.

Among the leading figures are also Ban Ki-moon, UN Secretary-General; Roberto Azevedo, WTO Director-General; Mario Draghi, President of European Central Bank; Jim Yong Kim, President of the World Bank; and Christine Lagarde, Managing Director of International Monetary Fund.

There will be more than 250 sessions and workshops during the four-day meeting, whereby participants would exchange opinions on issues such as natural growth, global financial outlook, new energy, ocean economies, health and climate change.

Posted in: Economy

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