Senin, 02 Februari 2009

Leaders gather for Davos summit

World Economic Forum logo
The world's financial landscape has changed hugely since the last forum

Global political leaders and business people are gathering for the annual World Economic Forum, which is due to start in the Swiss ski resort of Davos.

Chinese Premier Wen Jiabao and Russian PM Vladimir Putin and are to speak on the first day of the summit, which is themed "shaping the post-crisis world".

But Klaus Schwab, the founder of the World Economic Forum, has warned the crisis is nowhere near over yet.

A new poll shows business leaders think the recovery will take three years.

The snowy Alpine background may look the same, says BBC business correspondent Lesley Curwen, but the landscape of the financial world has changed beyond recognition in the 12 months since the last Davos meeting.

Some companies have been wiped out by the world's continuing financial crisis, while others have been rescued by governments or nationalised.

Indeed a new survey commissioned by PricewaterhouseCoopers suggests that business confidence among top bosses around the world has plummeted in recent months.

"We have to face up to the fact that the recovery, when it comes, later this year or early next year, is going to be anaemic," said Stephen Roach, Morgan Stanley's Asia chairman.

Some 2,500 guests, including senior executives from some of the world's biggest banks as well as 40 heads of state will join discussions on energy, climate change and free trade.

This year, our correspondent says, it seems ministers and bureaucrats are the masters of the universe at Davos.

The question remains how they will work with the global business community in future, she adds.

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