Raising the Curtain at Davos

Business and political leaders from around the globe are preparing to gather for the 40th annual World Economic Forum in Davos, Switzerland, and this year’s session promises to be one of the most interesting in years.

The economic backdrop has brightened, but the outlook remains uncertain with worries about a possible double-dip in developed economies and concerns about the sustainability of growth in emerging markets in the air. Bankers will be out in force but minus a good deal of their usual swagger after a year of bailouts.

The forum’s theme this year – “Rethink, redesign, rebuild” – is tailor-made for a time in which business leaders and government officials are seeking to rebuild trust and confidence. Forum founder and executive chairman Klaus Schwab has already tapped into the controversy over bankers’ bonuses, saying the uproar reflects deeper concerns about the role of business in society and the pursuit of profits over other social values.

This will be my fourth visit to Davos, and I will be blogging live from the Congress Centre, providing a daily commentary as well as shorter items based on conversations with leading financiers, business executives and public officials. I will be taking the pulse of forum participants about what the “new normal” is for the global economy, how to strike the right balance in reforming regulation of the financial sector, and where the best opportunities – and biggest challenges – lie in the year ahead.

I also look forward to assessing the relative confidence of actors from the developed and emerging economies, especially China. One of the forum’s seven co-chairs is none other than Eric Schmidt, the chairman and CEO of Google, which announced last week that it would stop censoring results on its Chinese search site and might pull out of the country. Davos man, and woman, will no doubt be eager to hear Schmidt’s views on the challenges of competing in the world’s fastest-growing economy. Follow me on II Davos Online, and give me your feedback. It promises to be a stimulating debate.

A Frank Exchange
An odd couple shares the stage during Wednesday’s global macroeconomic policy debate.

A Banker's Warning
Bankers and regulators square off at Davos. Round one goes to the banks.

Shifting Fortunes in Davos
Emerging markets take center stage while bankers fight a rearguard battle against tigher regulation.

Raising the Curtain at Davos
The World Economic Forum’s theme this year – “Rethink, redesign, rebuild” – is tailor-made for business leaders and government officials.

A Breakdown In Our Values
Klaus Schwab, WEF Executive Chairman: Bonuses are a symbol of business's bigger problem - an eroded sense of duty to the wider community.