"This crisis is not just a global crisis. It is not a crisis in globalization. This crisis is a crisis of globalization", said French President Sarkozy in his opening speech at the World Economic Forum in Davos. He further added that "From the moment we accepted the idea that the market was always right and that no other opposing factors need be taken into account, globalization skidded out of control."
The French have been banging on about inefficiencies in the market for decades and were met with scorn so now getting some quality airtime must feel rather good!
Anyway the theme of Davos 2010 was "Improve the State of the World: Rethink, Redesign and Rebuild". More than twenty-five hundred participants from 90 countries: world leaders, CEO's, Celebrities, Media, NGOs, and leading academics gathered for 5 days in Switzerland to figure out exactly how to improve the state of the world.
Business leaders urged the heads of government to follow through on commitments made in recent high level declarations, including the G20 summit where the leaders pledged to:
Bring the Doha Development Round to a successful conclusion in 2010 and encourage countries to further open trade autonomously beyond commitments under the World Trade Organization (WTO)
Launch a Framework for Strong, Sustainable and Balanced Growth
Implement recovery plans that help preserve employment and prioritize job growth, while continuing to protect and support the unemployed and the young generation, those most at risk of unemployment
The overall mood of the conference was subdued in the wake of Haiti earthquake and the melt down of financial markets during 2009.
Further details on the event are available here: World Economic Forum