Over the coming week, a small corner of the Swiss Alps will become a businessman's playground as more than 1,000 executives buttonhole rivals and political leaders on global challenges and deals, in between runs down ski slopes for the fittest.
The annual, clubbish, meeting of the World Economic Forum (WEF) regularly draws a sizeable chunk of the world's corporate and political elite to the eastern Swiss resort of Davos.
After last year's foray into both poverty and climate change with Tony Blair, Gerhard Schroeder, Brazil's leader Luis Inacio Lula da Silva or President Thabo Mbeki of South Africa, the organizers readily admit that this year's event has seen some political downsizing.
"Clearly one year on our minds are in a different place," said WEF managing director Ged Davis, announcing an economic bias to the five-day meeting starting on Wednesday.
This year's array of global concerns range from the growing weight of China and India, to fears of an oil and energy crisis or the strain on global water supplies.
Heads of state and government -- beyond German Chancellor Angela Merkel -- will be thin on the ground and the ministerial representation is dominated by finance and trade specialists.
About half the 2,340 participants expected in Davos are business chiefs -- just 15 percent of them women -- including the heads of three-quarters of the top 100 ranked companies.
"The World Economic Forum tries to keep away from issues that are too politicized," Klaus Schwab, founder and executive chairman said after being asked about the potential for talks on Iran.
"For me the key issue is the shift of the center of gravity from the West to the East, the rise of China and India not as a threat, but as an opportunity," he said.
Chinese Vice Premier and central economic planning chief Zeng Peiyan (曾培炎), and the governor of China's central bank, Zhou Xiao-chuan (周小川), who holds the key to the yuan's exchange rate, are due be accompanied by a showcase business delegation.
India's business community is also flocking to the Alps, along with commerce and industry minister Kamal Nath, who is due to take part in a trade meeting on the sidelines of the forum.
The WEF's mainly Western, US$20,000-a-year fee paying members highlighted the two Asian powers as areas of "immense" opportunity, but also signaled anxiety about low-cost competition, Davis said.
An internal survey found that energy-related topics came top of their list of concerns.
"What is on the top of the agenda this year is energy security. Second, climate-change regulation and its impact on markets, third, mid- to long-term supply uncertainties ... and fourth new forms of terrorism," energy specialist Christophe Frey said.
The "energy summit" events include a private session sounding out the response of industry chiefs, senior officials and analysts to a potential oil crisis.
The scenario involves simultaneous attacks on chokepoints in global energy supply -- thought to be ports, shipping routes, pipelines and refineries -- that "cause havoc on energy markets" and send prices above US$120 a barrel for weeks.
DEFENDING DEMOCRACY: Taiwan shares the same values as those that fought in WWII, and nations must unite to halt the expansion of a new authoritarian bloc, Lai said The government yesterday held a commemoration ceremony for Victory in Europe (V-E) Day, joining the rest of the world for the first time to mark the anniversary of the end of World War II in Europe. Taiwan honoring V-E Day signifies “our growing connections with the international community,” President William Lai (賴清德) said at a reception in Taipei on the 80th anniversary of V-E Day. One of the major lessons of World War II is that “authoritarianism and aggression lead only to slaughter, tragedy and greater inequality,” Lai said. Even more importantly, the war also taught people that “those who cherish peace cannot
STEADFAST FRIEND: The bills encourage increased Taiwan-US engagement and address China’s distortion of UN Resolution 2758 to isolate Taiwan internationally The Presidential Office yesterday thanked the US House of Representatives for unanimously passing two Taiwan-related bills highlighting its solid support for Taiwan’s democracy and global participation, and for deepening bilateral relations. One of the bills, the Taiwan Assurance Implementation Act, requires the US Department of State to periodically review its guidelines for engagement with Taiwan, and report to the US Congress on the guidelines and plans to lift self-imposed limitations on US-Taiwan engagement. The other bill is the Taiwan International Solidarity Act, which clarifies that UN Resolution 2758 does not address the issue of the representation of Taiwan or its people in
The Philippines yesterday criticized a “high-risk” maneuver by a Chinese vessel near the disputed Scarborough Shoal (Huangyan Island, 黃岩島) in a rare incident involving warships from the two navies. The Scarborough Shoal — a triangular chain of reefs and rocks in the contested South China Sea — has been a flash point between the countries since China seized it from the Philippines in 2012. Taiwan also claims the shoal. Monday’s encounter took place approximately 11.8 nautical miles (22km) southeast” of the Scarborough Shoal, the Philippine military said, during ongoing US-Philippine military exercises that Beijing has criticized as destabilizing. “The Chinese frigate BN 554 was
Taiwanese Olympic badminton men’s doubles gold medalist Wang Chi-lin (王齊麟) and his new partner, Chiu Hsiang-chieh (邱相榤), clinched the men’s doubles title at the Yonex Taipei Open yesterday, becoming the second Taiwanese team to win a title in the tournament. Ranked 19th in the world, the Taiwanese duo defeated Kang Min-hyuk and Ki Dong-ju of South Korea 21-18, 21-15 in a pulsating 43-minute final to clinch their first doubles title after teaming up last year. Wang, the men’s doubles gold medalist at the 2020 and 2024 Olympics, partnered with Chiu in August last year after the retirement of his teammate Lee Yang
RSS