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Monday 25 July 2011

Open world economy- Fadi Karnaby

The founding president of the World Economic Forum (WEF), Klaus Schwab, has promised, participants will try to help the G20 process before the planned meeting in London in early April.
"We are still in the midst of crisis," Mr. Schwab acknowledged in Geneva hoping Davos, once famous for its sanatoriums for tuberculosis, will be the place where a "convalescence" world will emerge.
For this, the former economics professor has provided a panel of personalities. Among the 43 heads of state and government (twice from the usual quota, according to the WEF), the Russian Prime Minister Vladimir Putin, will be honored for his first visit, the inaugural speech.
Another guest, his Chinese counterpart Wen Jiabao will be accompanied by a series of important business. Besides the regulars, like German Chancellor Angela Merkel and British Prime Minister Gordon Brown.
But the lack of representative material for the new team of U.S. President Barack Obama, cast a shadow on the ambitious agenda of the WEF.
Given the gravity of the crisis in the United States, "it really is not the time for them to wander in Davos," justifies Professor at IMD in Lausanne, Jean-Pierre Lehmann.
So the experts do not expect miracles. Especially since they believe that the remedies that may be raised in this mecca of capitalism are unlikely to mark a break with the dominant ideology.
Moreover, few expect a mea culpa of "transformed into arson fire," in the words of one economist familiar places.
"There has always been a mark of evangelical capitalism during the previous Davos and never fundamental debate on the system," added Lehmann.
"I am particularly curious to see if there will be acts of contrition," said he, wondering with a touch of irony: despite "all these brilliant minds, how is it that we all was surprised by the storm? ".
In fact, there have been few consensus from the meeting that do are not deceived. Last year, the Forum had been promised a hello world emerging from ...
Must be taken for what it is Davos, said an economist close to the Seraglio: a "place of conferences" whose major advantage is to provide "the opportunity" to officials "to meet in a neutral setting."
Thus, the billionaire Bill Gates alongside the head of the European Central Bank Jean-Claude Trichet, or the boss of Renault, Carlos Ghosn.
A few days before the big event, the Swiss resort is preparing to boil the traditional ballet big cars and helicopters. The two five-star hotels, where the elite invited to dispute the 400 rooms, preparing for the general rush.
But this year, the slimming world should also be felt in the famous festivals that mark the week of the Forum. And champagne should no longer flows.

Regards,
Fadi Karnaby



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