DAVOS World Economic Forum - January 2012

Like every other previous years, World Economic Forum discussions held during the last week of January this year as well where some key political leaders and industry leaders have presented their view about the current situation of the world economy and the path forward through different official as well private sessions. The event was attended by lots of business leaders from different companies which helped them to market their brands and connect with other business leaders at the same time.

The event started with the session focused on  -2012 Global Business Context- chaired by Global CEO of Boston Consulting Group -Hans-Paul Birkner-. Business leaders talked about possible demographic shift as the world population exceeds 7 billion people and it will definitely affect the business decisions going forward.

Business leaders also talked about the contributions to our Planet and the environment. The main forcus theme is -Go Green- which is necessary for our own survival. This new theme has become a part of long term strategy of most of the global companies.

Key Highlights and Speakers

  •  The life expectancy of a Fortune 500 company is now dropped to less than 15 years and decreasing continuously due to changes in the world wide business outlook. The only way for survival is more invention and innovation.

  • African leaders argued the western companies to build factories and necessary infrastructure to make us of its rich mineral resources.

  • Discussion between Israel and Palestine to analyze why there is no progress on peace. They have also pointed out the way forward to establish peace in the region.

  • German chancellor -Angela Merkel- talked about the debt crisis in Europe and she argued for an even stronger union in Europe with more focus in competition, stability and new economic reforms in many countries. In any case, Germany is the biggest economy in the Europe and it holds the key to save all the struggling nations as well as the entire euro zone.

  • There was a session on global food supply and Food Security where -Bill Gates- mentioned that nutrition was the key to disease prevention.  He is focused on eradicating Malaria and other diseases and it can only be successful only if children get good nutrition and build healthy immune systems. He also talked about research, distribution to produce enough foods to feed 7 billion world populations.

  • UK Prime Minister David Cameron ask asked European leaders to be bold to resolve the current debt crisis and he also asked for bilateral trade agreements rather than comprehensive trade agreements.

  • US Secretary of the Treasury, Tim Geithner has talked about the US economic outlook and forecasted 2-3% growth for 2012. He has also fixed his jobs to improve the current financial crisis including housing, debt and unemployment etc. He also talked about Iran sanctions and getting support from other countries regarding the same.

  • The Prime Minster of Thailand (Thailand-s first woman PM) said that if girls are educated and included in the economy, crime rate goes down and economics improve. Any discrimination against women should be totally unacceptable and their growth should be given more importance in all the organization.

  • International Monetary Fund (IMF) head -Christine Lagarde- has talked about the global economy and the euro zone debt crisis. She also called for fiscal consolidation and asked emerging markets to focus on domestic demand. She has put world growth forecast at 3%.

  • World Bank President Bob Zoellick has said in the past West had always criticized the east for the way they were running their countries. Now the East has ignored the West and done good on economic front while the West has created the recent global crisis by their own actions. He also said of potential shift of fundamental balance of power from western developed nations to eastern emerging economies.

The DAVOS World Economic forum aims to discuss all the relevant issues and progress of the world economy and brings all the political and business leaders together to discuss the same. This year the mostly talked about discussion was current euro zone debt crisis and how to resolve the same. Other important social issues are also discussed. We hope the world economy comes back to growth before next year WEF.