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World Economic Forum 2007

World Economic Forum blog image

And now for the good news

  • Tim Weber
  • 24 Jan 07, 11:37 AM

Ok, this is the World Economic Forum, so let's talk about the economy.

Every year the annual meeting kicks off with a heavily attended session on the state of the global economy.

And in my four years here, I've never heard the panel to be so bullish, so confident about the state of the global economy as this time.

Yes, there are worries on the horizon, yes, the threats get more serious in 2008, but for this year at least nearly all on the panel were very confident.

The potential threats: US housing market, the price of oil and soaring interest rates.

I'll write a piece on this shortly, but wanted to give you a heads-up.

Also: Watch the global economic power shift before your very eyes. This year the panel included speakers from both India and China, Montek Ahluwalia, deputy chairman of India's Planning Commission, and Zhu Min , one of the top executives of the Bank of China.

This shift a redistribution of power but not a redistribution of wealth, the panel insisted.

But try to explain that to politicians in Europe and North America who have to make space for new people at the top table.

What about you: Are you worried about the new economic powers, or are we watching a global opportunity?

Update: on the panel discussion on the global economy.

Comments   Post your comment

  • 1.
  • At 12:28 PM on 24 Jan 2007,
  • Brian Griffith wrote:

I wonder when the majority of voters in Europe and North America will grow tired of letting their tax dollars subsidize big farming corporations, so they can undercut and empoverish local farmers of the Southern world? How about SOME cut in the subsidies, and at least a few steps toward fair trade?

  • 2.
  • At 08:58 PM on 24 Jan 2007,
  • S.Hirvonen wrote:

Atleast in Finland the case is that there is even no discussion about cutting the agricultural subsidies. Some information about large subsidies of rich people and companies have been newsworthy. The support (and lobby) of domestic farming and food is so strong that no considerable political party wants or has the courage to bring the subsidies into discussion. Even the politicians or oraganizations who are known as speakers of "problems of globalization" have never brought the issue to discussion. It would be nice to hear what kind of opinions there is in other countries.

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