Davos 2011 - Highlights - Saturday 29 January


India's inclusive growth imperative

Growing by nearly 9% a year, India has become a model of an economy that is expanding rapidly within the context of an open, democratic society. The biggest challenge for the country is to ensure that growth is inclusive.

“Examples like China have shown us that, as growth takes place, poverty comes down substantially,” said Chanda Kochhar, Managing Director and CEO of ICICI Bank of India, in a session on “India’s Inclusive Growth Imperative” at the World Economic Forum’s Annual Meeting 2011. “Growth and inclusion have to go hand in hand.”
Davos 2011 I Video Interview I News release

Lina Mohohlo, Governor, Bank of BotswanaSolving the energy efficiency equation - What's stopping us?

Realizing the energy potential arising from the efficient use of technology is the key challenge for the sector. In many cases, it will yield rewards that exceed the benefits of the use of renewable energy sources. 
The problem is that consumers are not fully engaged and utility companies do not have the incentive to encourage energy efficiency among their customers.

Davos 2011 I Quotes 


Naoto Kan

Japan's Prime Minister Naoto Kan: Forging new relationships

Japan's Prime Minister Naoto Kan told participants of the World Economic Forum Annual Meeting 2011 in Davos that it is essential to reconnect and forge new  relationships. “Spiritually and economically … it’s important for us to open up ourselves to the rest of the world.” This is equally true on a domestic as well as an  international scale, he said. Kan added that he had come to Davos to discuss social inclusion and the concept of human security. To him, building new bonds and  opening up to the world are at the heart of that push. “Today, the world faces major changes that can be likened to a tectonic shift, both in national security and in  economic fields,” stated Kan. “I think we need to build new bonds suitable to the times and regions we are living in,” he said.
Davos 2011 I Quotes I News release

Christine Lagarde, Minister of Economy, France
Outlook for the global economy: volatility yes, but political resolve

The Euro received French and German political support at the Annual Meeting. Meanwhile, business confidence is returning and work to reduce post-crisis debt mountains has begun.
But while the conclusion of this session, featuring Robert B Zoellick, President of the World Bank Group, three European Finance Ministers - Christine Lagarde, George Osborne and Wolfgang Schäuble - was positive, panel chairman Martin Wolf of the Financial Times observed: GDP in the 6 largest advanced economies remains below 2008 levels. There is much work to do.


Creating Shared Norms Panel at the Annual Meeting

Creating Shared Norms: The Century's Leadership Challenge

Set against the context of the global financial crisis, social tensions and civil unrest, there is unanimous agreement that change is essential. A recurrent theme during the World Economic Forum Annual Meeting 2011 was that we “have to move beyond the old paradigm of how these problems are solved.”
Leaders have been too caught up in short-term solutions to domestic politics and conditions, and have been too fearful: of public opinion; of upsetting the markets and regulation; and of investing in jobs and social protection. Leaders need to invest in people, who need strong direction and conviction. “Copenhagen broke people's hearts, as they expected them to come to an agreement," said Sharan Burrow, General Secretary, International Trade Union Confederation. Frameworks for global governance and institutions need to be rebuilt with an inclusive approach to different cultures.
A video message from 2006 Nobel Peace Prize Laureate Muhammad Yunus highlighted key questions to answer before defining the shared norms that can support these frameworks. Consensus is needed on the questions of “what kind of life do we want, what kind of world do we want to build, because shared dreams have to be achievable,” he said.
While high-level agreements are necessary, businesses, governments and NGOs are also looking for pragmatic ways to contribute, and that requires shared norms for processes and practice, be it an ISO standard or a common plug for electric cars.