World leaders and top business executives gathered for the World Economic Forum in Davos, Switzerland have plenty of crises to discuss.
Among them are ballooning European government debt, rising inflation, fears of trade and currency wars, spiralling food prices and lingering problems in the world financial system.
This year’s focus is ‘The New Reality’ which the event’s chairman and founder Klaus Schwab told euronews includes the shift in political and economic power in this increasingly connected world.
“Let’s take again the emergence of China, the emergence of India, represented here as never before. Let’s take the consequences of social media, how they impact even on politics. All those are issues and features of the new reality,” he said.
Behind the security cordons two dozen heads of state, over 1,400 business leaders and eight central bank chiefs get a chance to discuss what the Forum’s organisers have labelled ‘global burnout syndrome.’
The euronews reporter at the event is Isabelle Kumar who said: “The WEF certainly sets itself lofty ideals. It says it is committed to improving the state of the world – given the current political and economic situation, that’s a tough one to achieve, but there is the right high profile blend of guests here who could just make a difference.”