The World Economic Forum’s Annual Meeting has proved its power time after time in setting the global agenda, identifying emerging issues and challenges, and engaging leaders from all walks of life in dialogue, initiative and action. In the same way, Global Agenda seeks to lead opinion and debate on all the key issues facing the world. It aims to be thought-provoking and controversial, but balanced and fair. And it tries to make room for voices from all sides of society. We live in deeply unsettled, challenging times. Many of the certainties on which we have come to depend in recent years are in doubt. In place of trust lie scepticism, suspicion and fear. It is more vital than ever that all sides of the debate are heard – from the worlds of business, civil society and government. Like the World Economic Forum itself, Global Agenda aims to be a forum for discussing issues, testing ideas and initiating change.
Leon Levy, a legendary Wall Street investor and financier, spent more than 50 years waiting for his own bubble to come. In an extract from his recently published book The Mind of Wall Street, he describes why financial markets and psychology are inextricably linked – and why this three-year downturn is far from over –…
The international finance industry has gone out of its way to harm its own reputation in recent years. But, says David Lascelles, we should not lose sight of the fact that financial innovation is fundamentally a productive force – The urge to innovate in the financial world is enormously – almost uncontrollably – strong. The…
Population aging in the industrialized nations is rapidly leading to social and economic crisis. But this destabilizing problem could easily be turned into an asset. What is needed, says Ted Halstead, is a complete rethink of national priorities and prejudices – New social and economic crises are as predictable as those posed by rapidly aging…
All the pieces are in place for the 21st century to be the Asia-Pacific century. But the boom – led by China – will be driven by consumers and by markets, not by governments. Asia (excluding Japan) will be the driver of growth in the US and Europe, rather than the other way round. And,…
Forecasting the world economic outlook has rarely been trickier. Japan is floundering in stagnation, Europe is headed into a similar mire and even the US seems destined for deflation. Henry Kaufman, the Wall Street economist and financial consultant, offers his views on the state of the US and world economy. As he sees it, one…
A story of division and reconciliation by Paulo Coelho – Centuries before the media were filled with news of the so-called “effects of globalization”, Sheikh Qalandar Shah told the following story in his book Asrar-I-Khilwatia (“Secrets of the Solitary”). In eastern Armenia there was once a tiny village that had grown up along two parallel…
If we truly want a world defined by economic opportunity and security – and not by division, inequality and conflict – then we must embrace the whole world, says Bill Clinton. Nowhere is this need more pressing than in Africa, the most misunderstood and underestimated continent of all. Africa matters. We ignore it at our…
Emerging markets need capital to develop and grow, says Mervyn Davies. But there is a marked distinction between “good” and “bad” capital. Policy-makers must ensure that the right environment exists for international investors and companies – and that capital inflows benefit rather than harm their developing economies – Global capital flows to the emerging markets…
Sustainable development is about business, not philanthropy. It is about performance, not promises. But, says Philip Watts, it is a responsibility that business cannot shirk. The future of our planet and of human society depends on sustainable development. Business has an essential role in contributing to this – by finding innovative ways of meeting present…
US accounting scandals have done nothing to help the cause of better corporate governance in emerging markets. Despite the lack of a role model, corporate standards in developing countries are improving slowly – through better transparency, disclosure and accountability. And it is clear that investors and financial markets are starting to reward companies that have…
