Davos: crisis and consequences

The shockwave sent out by the eurozone crisis is now hurting emerging economies like Brazil, Russia, and China.

These were the very economies that came to the rescue in 2008, preventing the financial crisis from blowing up into a full-scale global recession.

In the poorest countries more and more people every day are grappling with hunger. Industry is struggling, for better or worse, to deal with these new conditions, but in Davos this year pessimism hung heavy in the air.