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Davos: Opening Day

Jan 23 2008

Back to: Davos: Day 1

World Economic Forum
World Economic Brainstorming: Addressing Uncertainty
Klaus Schwab
Security Guard at Davos
Guillermo Ortiz
Kissinger and Blair
Rajendra K. Pachauri
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Introduction
The World Economic Forum takes place in Davos, a mountain resort in Switzerland, and is attended by eminent members of the business community as well as heads of state and celebrities. This year’s theme, the Power of Collaborative Innovation, aims to address the looming global challenges of the economy, climate change, and equitable growth.
Day 1
Participants at today’s brainstorming session voted that a lack of coordinated leadership and response to the current economic crisis, spurred by the subprime mortgage crisis, was the biggest threat to global growth. Up for discussion were the questions of whether sovereign wealth funds and emerging markets can mitigate the worldwide repercussions.
The Founder
Klaus Schwab, founder and executive chairman of the World Economic Forum, is the looming figurehead behind this global affair.
Tight Security
A security guards stands near the congress center, protecting the world’s business and governmental luminaries. Conference organizers said that 27 heads of state or government were among the 2,500 participants.
Fears of Worldwide Recession
Guillermo Ortiz, governor of the Central Bank of Mexico, reportedly said today in Davos that despite strong growth in Latin America, many of these developing nations, and Mexico in particular, would not be isolated from the fallout of a U.S recession.
Both Sides of the Pond
Henry Kissinger, former U.S. secretary of state, stands next to fellow co-chair of this year’s summit, Tony Blair, the former prime minister of Britain.
Global Climate Change
Rajendra K. Pachauri, chairman of the Intergovernmental Panel on Climate Change and the 2007 Nobel Peace Prize winner along with Al Gore.

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