World economic uncertainties associated
with the U.S. sub-prime mortgage crisis and high energy prices are high on
the agenda of the World Economic Forum (WEF) annual meeting which
opened in Davos on Wednesday.(Xinhua/AFP Photo) Photo Gallery>>>
DAVOS, Switzerland, Jan. 23 (Xinhua) -- World
economic uncertainties associated with the U.S. sub-prime mortgage crisis and
high energy prices are high on the agenda of the World Economic Forum (WEF)
annual meeting which opened here on Wednesday.
Some 2,500 people, including business and political
leaders as well as heads of international organizations, are gathering at this
famous Alpine ski resort for the five-day forum, which aims to tackle the major
issues facing the world and shape the global agenda for the year ahead.
According to the program of the meeting, several
sessions on world economic prospects and problems will be held on Wednesday.
One session is titled "If America Sneezes, Does the
World Still Catch a Cold?" Economists and officials at the session are to
discuss such questions as whether "the long predicted decoupling of global
growth from the U.S. economy" is finally happening.
They will also try to answer the question whether
China, India and other emerging markets can drive global growth if there is a
U.S. economic recession.
Another session will address the major threats to the
world economy in 2008, including continued losses from the U.S. sub-prime
mortgage crisis, record highs in energy and commodity prices and bubbling equity
markets in emerging economies.
Besides economic problems, global risks ranging from
climate change to pandemics will also be discussed on the first day of the
meeting. Other topics include the leadership changes in North-East Asia, the
surprising rise of Latin America and the situation in the Middle East.
The opening plenary of the annual meeting will focus
on two key issues facing the world -- climate change and terrorism, and will
also be addressed by U.S. Secretary of State Condoleezza Rice.
The theme of this year's meeting is "The Power of
Collaborative Innovation."
"Looking to the future, it becomes readily apparent
that complexity, competing interests and scarce resources remain the greatest
obstacles to progress on the global agenda in the absence of greater leadership
and global stewardship," the WEF said in a statement.
"It is in this challenging context that the WEF will
highlight The Power of Collaborative Innovation as the principal theme for the
annual meeting 2008 in Davos," the statement said.
DAVOS, SWITZERLAND, Jan. 23 (Xinhua) -- World business
leaders appeared less confident of the economic prospects of their companies on
Wednesday when they gathered here to kick off their annual World Economic Forum.
According to a global survey conducted by the New
York-based consulting firm PricewaterhouseCoopers, confidence among leaders of
the world's top companies has fallen for the first time in five years, with half
of them "very confident" about revenue growth over the next 12 months, down from
52 percent in the previous year. Full story
