People walk in the main lobby at the World Economic Forum in Davos, Switzerland. The forum will examine whether there is optimism about the global economy in the coming months and, perhaps more importantly, if the levels of trust in business and government are on the rebound. (AP Photo/Virginia Mayo)
People walk in the main lobby at the World Economic Forum in Davos, Switzerland. The forum will examine whether there is optimism about the global economy in the coming months and, perhaps more importantly, if the levels of trust in business and government are on the rebound. (AP Photo/Virginia Mayo)
People walk in the main lobby at the World Economic Forum in Davos, Switzerland. The forum will examine whether there is optimism about the global economy in the coming months and, perhaps more importantly, if the levels of trust in business and government are on the rebound. (AP Photo/Virginia Mayo)
People walk in the main lobby at the World Economic Forum in Davos, Switzerland. The forum will examine whether there is optimism about the global economy in the coming months and, perhaps more import

Business

Bono, billionaires & banks mix at World Economic Forum

DAVOS DISPATCH: Read the first of Tom Arnold's reports from the Swiss resort of Davos as the annual World Economic Forum attracts heavyweight politicians such as Germany's 'Iron Chancellor' Angela Merkel, billionaire investor George Soros and even Robert De Niro and U2's Bono.

Tom Arnold

January 26, 2011

  • English
  • Arabic

Politicians, bankers, economists, executives and even film stars begin converging on the Swiss resort of Davos today in an effort to solve some of the global economy's most pressing conundrums.

US Treasury Secretary Timothy Geithner, German Chancellor Angela Merkel, billionaire investor George Soros and Nobel Prize-winning economist Joseph Stiglitz are among the big names that have flown in for the World Economic Forum's annual meeting this week.

Their goal will be to hammer out suggested answers to big questions; ranging from how to fix the global financial system to how to create jobs.

Other important topics such as US and China relations, global trade and the future of energy will also be covered.

But the event is not just about economics. Leading lights from the world of entertainment like actor Robert De Niro and U2 frontman Bono are there too to talk about weighty cultural and humanitarian issues.

The agenda kicks-off today with discussions about the emergence of a "new economic reality", in which China and other emerging markets will play a bigger role.

A different backdrop to last year will frame the event. Less of the doom and gloom is expected as some economies move out of recovery mode. It may also offer insight into China's attempts to boost its influence on the global stage as the country has its largest delegation at the forum.

From the Gulf, UAE Minister of Economy Sultan al Mansouri is attending, along with Sheikh Mohammed Bin Essa Al Khalifa, chief executive of the Bahrain Economic Development Board, and Khalid al Falih, president and chief executive of Saudi Aramco.

tarnold@thenational.ae

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