Put the world's most powerful men and women in one room and what do you get? The New Economy looks ahead to this year's World Economic Forum
There isn’t much to be said about Davos. It’s in Switzerland. It’s situated on a high valley. It’s particularly cold, most likely. However, toward the end of January every year, the tiny municipality attracts the attention of a huge number of VIPs, business heads and world leaders. Essentially, its the cream of the business and politics crop.
Amongst the speakers this year will be former British PM Tony Blair, who in June 2007 joined the Foundation Board of the World Economic Forum. James Dimon, CEO of JP Morgan Chase and Company in the United States will be captivating audiences, as will long term member Henry Kissinger. Obviously speakers such as these offer more of an attraction than the freezing temperatures offer discomfort.
The theme to be invested in at this year’s meeting will be ‘The Power of Collaborative Innovation,’ which many of the speakers have been asked to discuss directly. The subtopics- Business, Economics, Geopolitics, Science & Technology, and Values & Society- are the usual categories, but are expected to be directly influenced by the overall theme of the meeting. The topics proposed are in place to affirm a general bearing for the conference, but allow for a certain amount of influence on the part of the speaker. It is this defining characteristic that is said to attract speakers and listeners alike.
Forums and meetings that span the different continents over the course of the year have hammered out issues such as India’s new economy, the future of Saudi Arabia and various correspondences with the Chinese Premier. January’s Annual Meeting provides a review of these sub- meetings, and how the most important issues have taken their toll over the past twelve months. Within this, discussions take place as to how concerns can be dealt with.
Outside of the inner circle of shareholders and members, those expected to attend are of varying backgrounds. That said, most of the guests are of equally high profile. Former US President Bill Clinton is expected to attend, whilst it is rumoured that PM Gordon Brown is keen to get hold of a ticket. An interesting community who will definitely be in attendance is the newly formed Forum of Young Global Leaders. The group is a collection of extraordinary leaders hailing from different disciplines the world over. Each member is less than 40 years old, and so has the potential to infuse a lot of energy to the Annual Meeting. Realising this, Klaus Schwab, Executive Chairman of the World Economic Forum, has given the YGL his personal endorsement and welcomes their attendance at Davos.
Aside from the usual and expected heated exchanges between those permitted through the front door, a handful of organised demonstrations have taken place as close to the meeting as possible over the last few years. Similar to the majority of the World Trade Organisation (WTO) conferences, disturbances are anticipated, and as such the event normally goes by without outside interference. In fact, one of the issues protestors pursue is that too much money is spent by the Swiss government on security.
Another recent criticism pointed out that in 2003, 100 percent of board members were male. The powers that be have clearly been trying to rectify the deficit, as nearly 30 percent of members attending the Annual Meeting since then have been female.
Another issue is that there are very few NGOs, and even fewer members from the developing world. The theme for this year is an obvious attempt by the organisers to redesign their image, and become more ambassadorial of the world’s population. The organisation has recently presented itself as a worldwide promoter of diversity and humanitarianism, proposing to solve contemporary issues that aren’t necessarily restricted to the world’s elite. In 2005, board members announced that they would be keen to hear from detractors and those critical of the organisation’s format. Since then the establishment’s website has offered a response field by which users can offer advice in the lead up to the more popular summits.
This would seem to be the most likely way to be part of the meeting- membership is $12,500, and tickets to the event in Davos go for $6,250. It’s no surprise that those who make it there are those who really make a difference.
No matter what issues outsiders may want to take up with the World Economic Forum, it is an exceptionally well run organisation. It has a devout support keen to civilize the developing world. It’s membership is made up of some of the world’s most influential and successful personalities. At the same time, it uses familiar faces, such as U2’s Bono, as a means to promote prosperity.
As always the Annual Meeting 2008 will be addressing the future. Topics of discussion are anticipated to be heavily embedded in issues such as the scarcity of resources and global warfare. The cold Swiss winter may be heated by discussions of potential solutions to the world’s problems, by its finest leaders acting as a collective.
Past achievements
2007 German Chancellor, Angela Merkel, set out Germany’s G8 presidency objectives of “growth and responsibility”
2006 Trade officials agree to accelerate talks to achieve a world trade deal. Some 25 trade ministers agreed to move on all key issues – agriculture, services and manufacturing – at the same time
2005 Tony Blair, gets advice on his G-8 policy priorities of poverty alleviation in Africa and climate change. The meeting served as a platform for Mr Blair to launch his G-8 agenda
