What leaders said at the Annual Meeting 2011

 

Thursday 27th January

William J. Clinton, Founder, William J. Clinton Foundation


A Conversation with William J. Clinton 
“On balance, if I were in Israel and I had any influence, I’d want to make that deal now.  Because all these countries have offered Israel a political, economic, and security partnership.”
[...]
“Just look at where we are going to be in 5 years, 10 years, 15 years, 20 years.  Can anyone imagine that either the Middle East – or in particular, the Israelis and Palestinians – will be better off if we do not do this now?  It has to be worse, not better.”
William J. Clinton, Founder, William J. Clinton Foundation

 



Chesley B. Sullenberger, Founder, Safety Reliability Methods Inc

Leadership under Pressure 
“I have heard from my many of my colleagues... that they weren't terribly surprised by the outcome of Flight 1549, because of the way they had observed me living my life for years before: by leading by example, by having integrity, by insisting on the highest professional standards, by creating a team out of a disparate collection of individual strengths. 
It turns out that my reputation had been built – one encounter, one person, and one day at a time.”
Chesley B. Sullenberger, Founder, Safety Reliability Methods Inc





Jacob G. Zuma, President of South Africa


From Cancún to Durban: The Course for Climate Change 
“I think it is important – and I think Cancún was absolutely correct – to put aside the differences, the blaming one another, but to say ‘How do we move forward together?’
I think that is an approach that we are going to undertake as we move forward, of course working together with the colleagues, acting on their experiences … It proved that, in fact, it works when we are not pointing fingers.  We are all trying to seek solutions.”
Jacob G. Zuma, President of South Africa





Christiana Figueres, Executive Secretary, United Nations Framework Convention on Climate Change (UNFCCC), Bonn

From Cancún to Durban: The Course for Climate Change 
“I call Cancún a big step for the community of nations. 
But unfortunately, it’s also at the same time a very small step for the planet.”
Christiana Figueres, Executive Secretary, United Nations Framework Convention on Climate Change (UNFCCC), Bonn

 

 



Chen Deming, Minister of Commerce of the People’s Republic of China


China’s Impact on Global Trade and Growth 
“Our [WTO] accession is good for the world.  It is 10 years of sharing benefits and joint development – although some countries were doubtful whether we were able to honour our promises. 
About 10 years have passed, and the answer is on the wall.  Our exports have increased by 4.9 times, imports have increased by 4.7 times, and GDP has nearly doubled.”
Chen Deming, Minister of Commerce of the People’s Republic of China

 



Julio Frenk, Dean, Harvard School of Public Health


Combating Chronic Disease 
“In the case of global financing of cancer, 80 percent of the burden of disease is in developing countries, but only 5 percent of financial resources are in developing countries.  There is a huge room there to improve. And there is a lot we can do.” 
Julio Frenk, Dean, Harvard School of Public Health

 

 



Ban Ki-Moon, Secretary-General, United Nations


Combating Chronic Disease
 
“Chronic diseases used to be seen as a rich man's problem.   Not anymore.  Unhealthy lifestyles are going global.  85% of people who die from non-communicable  diseases are in the developing world.” 
[...] 
“We cannot allow chronic diseases to even further amplify the health challenges faced by developing countries.  Especially when we know the solutions.”
Ban Ki-Moon, Secretary-General, United Nations




George A. Papandreou, Prime Minister of Greece


Europe: Back to the Drawing Board? 
“We [in Greece] have been doing everything by the book. We’ve done what the recipe says. So why aren’t the markets responding?
Well, I think the question – when it’s towards Greece – is really looking at somewhere else.  It is looking at Brussels . It is looking at Frankfurt, Berlin, Paris, maybe even Washington, maybe even Beijing.  But basically, it is: What is Europe doing, as far as governance is concerned, for the Eurozone?”
George A. Papandreou, Prime Minister of Greece





Jean-Claude Trichet, President, European Central Bank


Europe: Back to the Drawing Board?
 
“The Euro delivered what had been asked of it, namely price stability.” 
[…]
“Monetary union has delivered as was foreseen. Economic union is a different story.”
Jean-Claude Trichet, President, European Central Bank

 




Nick Clegg, Deputy Prime Minister of the United Kingdom

 


Europe: Back to the Drawing Board? 
“We [in Britain] have a massive, strategic, national self-interest to see the Eurozone succeed.  
And … we need to return to some of those basic insights which were on the original drawing board. That you can’t grow unless you do the difficult homework of structural reform domestically. And you can’t have a strong … currency union if the basic rules upon which it was established are not adhered to.”
Nick Clegg, Deputy Prime Minister of the United Kingdom

 



Christine Lagarde, Minister of Economy, Finance and Industry of France

 


Global Leadership: A New Era? 
“Clearly, the challenge of the G20 will be to demonstrate that, globally, we can exercise leadership in the interest of the people.  In my view, it should be leadership for the people.  And it shouldn't be leadership in the name of experts.  That is what I am most concerned about.”
Christine Lagarde, Minister of Economy, Finance and Industry of France

 




Victor L. L. Chu, Chairman & Chief Executive Officer, First Eastern Investment Group

 

Global Leadership: A New Era? 
“Long term, East and West either prosper or perish together. So I don't think there is a zero-sum game.  We have to partner closely in order to achieve a win-win solution.” 
[...] 
“It is also in the West's interest to help China, and indeed India, to make sure these great powers – or greater powers to be – will grow in stature and they'll become constructive international players.”
Victor L. L. Chu, Chairman & Chief Executive Officer, First Eastern Investment Group




Richard N. Haas, President, Council on Foreign Affairs

 

Global Leadership: A New Era? 
“When you look at the 21st Century, it's not ‘Who's going to replace the United States?’  No one can or will.  The real danger is that no one will. 
The United States will be able to accomplish less – we won't have the necessary partners.  And all things being equal, the world will become a messier place.”
Richard N. Haas, President, Council on Foreign Affairs





Anand Sharma, Minister of Commerce and Industry of India

 


Global Leadership: A New Era? 
“I will not call China and India as 'emerging'.  We are 're-emerging', because together we contributed 52% of the GDP of the world, until the 17th century.  
It is a re-balancing of the world economy.  It is historical distortions getting corrected.”
Anand Sharma, Minister of Commerce and Industry of India

 

 

 

Nicolas Sarkozy, President of France

 

Vision for the G20 
“Chancellor Merkel and myself never – and listen to me carefully here – never will turn our backs on the Euro.  We will never drop the Euro…The Euro spells Europe.  The Euro is Europe.”  
[...]
"We couldn't even possibly entertain the idea – not even play with the idea of entertaining the idea.  Have I been clear enough?”
Nicolas Sarkozy, President of France

 

 

Nicolas Sarkozy, President of France

 

Vision for the G20 
“The cost to the world [of the financial crisis] has been tens of millions of unemployed, who had nothing to with this, and yet were the ones to foot the bill, in the harshest possible fashion.”
“Because between the pack of cards that came down when Lehman Brothers went under, and the European, American, Japanese – wherever in the world – unemployed, there is absolutely no link. It generated a lot of anger, and a lot of suffering and anguish.”
Nicolas Sarkozy, President of France

 

Susilo Bambang Yudhoyono, President of Indonesia

 


The Big Shift and the Imperative of 21st Century Globalism 
“We will need to work together to manage the world economy so that it functions to meet our needs, rather than satisfying our greed. This means we will need to inject more compassion into our economic and social policy; that is not only fixated on growth, but on achieving growth with equity.  And with promoting a caring and sharing society.”
Susilo Bambang Yudhoyono, President of Indonesia

 

 

Dominic Barton, Worldwide Managing Director, McKinsey & Company

 


The Next Shock: Are We Better Prepared? 
“The government has, I think, drained the 'trust bank', to be able to do what they had to do.  And I don't think there's much reserve there.  I think that businesses... we've also drained a bit of the 'trust bank'.
And we have to rebuild it, to be able to withstand crises that will inevitably come again.”
Dominic Barton, Worldwide Managing Director, McKinsey & Company

 



Indra Nooyi, Chairman and Chief Executive Officer, PepsiCo Inc.

 


Russia’s Next Steps to Modernization 
“We, as a company, like doing business in Russia. We think Russia has got it right – that they have got to expand beyond oil and gas and natural resources. They are putting in place the right technical innovation and infrastructure, but most importantly, they are making it easy for foreign companies to do business.”
Indra Nooyi, Chairman and Chief Executive Officer, PepsiCo Inc.

 



Dominic Barton, Worldwide Managing Director, McKinsey & Company

 


The Next Shock: Are We Better Prepared? 
“When you have unremitted growth... you are going to get bubbles.  I can't think of a single country that's gotten to $10,000 GDP per capita without some sort of financial crisis... 
So, I'm optimistic, but I think we have to be very wary of bubbles that emerge as you go through… The challenge is, it is hard to pick where it is.”
Dominic Barton, Worldwide Managing Director, McKinsey & Company

 

 

Igor Shualov, First Deputy Prime Minister of the Russian Federation

 


Russia’s Next Steps to Modernization 
“We all work hard in order to achieve [what] is called ‘New Russia’.  And we understand that, by 2020… we need to achieve and to develop Russia as one of the most comfortable countries to live in… where you can develop all your talents and where future generations would like to live and invest.”
Igor Shualov, First Deputy Prime Minister of the Russian Federation

 



Eckhard Cordes, Chief Executive Officer, METRO GROUP

 

The Next Shock: Are We Better Prepared? 
“Germany has significantly benefitted from the Eurozone.  German industry has dramatically increased competitiveness over the last, say,  10 years or so...  Had we not had the Euro, obviously we would have seen a significant increase in the value of the German Deutschmark, which has not happened." 
[...] 
"There is almost sort of a moral obligation of Germany, German politicians, and German industrialists... to give support to countries like Portugal or Greece.”
Eckhard Cordes, Chief Executive Officer, METRO GROUP

 

James Dimon, Chairman and Chief Executive Officer, JPMorgan Chase & Co.

 


The Next Shock: Are We Better Prepared? 
“You have seen some of the peripheral nations [of Europe] make some very tough choices... Even after we get through this, the Maastricht treaty, how you run deficits, social policy, all is going to have to be re-set, to make sure that it is fair to all the nations in Europe, and that some aren't just piggy-backing off the success of others.”
James Dimon, Chairman and Chief Executive Officer, JPMorgan Chase & Co.

 

 

Wednesday, 26th January 

Dimitry Medvedev, President, Russian Federation
Opening Address
“What happened in Tunisia, I think, is quite a substantial lesson to learn for any authorities:  The authorities must not just simply sit in their convenient chairs... but [rather] develop themselves together with the society.” 
[...]  
"When the authorities don't catch-up with the development of the society – don't meet the aspirations of the people – the outcome is very sad."
Dimitry Medvedev, President, Russian Federation

 

 


Dimitry Medvedev, President, Russian Federation
Opening Address
“It is not enough to have one’s own freedom.  You have to respect the freedoms of others. This is the principle which is true for relations between democratic states.”
Dimitry Medvedev, President, Russian Federation



 



Dimitry Medvedev, President, Russian Federation


Opening Address
“Unfortunately, no state in the world is immune to terrorism. The reality is such that terrorist acts like the one that has just happened in Russia... can happen at any time and at any place in the world.
No one is immune to that today.”
Dimitry Medvedev, President, Russian Federation




 

Micheline Calmy-Rey, President of the Swiss Confederation and Federal Councillor of Foreign Affairs of the Swiss Confederation


Opening of the Annual Meeting 2011
“It is very important to have a dialogue on norms and values, and to deal with this issue of global justice.”
[...]
“One has to take into account not just injustice within a country or between countries, but for mankind in its entirety.”
Micheline Calmy-Rey, President of the Swiss Confederation and Federal Councillor of Foreign Affairs of the Swiss Confederation





Min Zhu, Special Adviser, International Monetary Fund


What is the New Economic Reality?
“There is a potential risk for the world to go back to the 'old normal', which was before 2007-2008 – emerging markets keep exporting, advanced economies keep importing, imbalances remain...

This is the [biggest] risk for the emerging economies, because they have been successfully transferring their model from an export-dependent model to a domestic [model].”
Min Zhu, Special Adviser, International Monetary Fund




Nouriel Roubini, Professor of Economics and International Business, Leonard N. Stern School of Business, New York University


What is the New Economic Reality?
“A world in which 10% is the growth rate of China, and 10% is almost the unemployment rate of the U.S., in which China is very much slowing down the rate of its own currency appreciation, is a world ... in which this currency tension can lead to currency wars, and eventually to trade wars and protectionism.”
Nouriel Roubini, Professor of Economics and International Business, Leonard N. Stern School of Business, New York University






Azim Premji, Chairman, Wipro Limited, India

What is the New Economic Reality?
“The slowdown of the western world, and the continued acceleration of the emerging world is really shifting the balance of power, in terms of where the consumption lies.
The way the trends are going, in 10 years, the economies of the emerging world will be in excess of $20 trillion, which is equal to the size of the U.S. economy today.”
Azim Premji, Chairman, Wipro Limited, India





Min Zhu, Special Adviser, International Monetary Fund


What is the New Economic Reality?
“If you ask anyone in the emerging markets, what is your life model … they will say American lifestyle: big house and big cars … and a pension. … But it won’t work, right, because we absolutely don’t have [these] resources...  

The whole world has to work together to figure out a model for tomorrow.”
Min Zhu, Special Adviser, International Monetary Fund




Sir Martin Sorrell, Chief Executive Officer, WPP Plc


What is the New Economic Reality?

“The real issue is … an unwillingness to deal with the real gorilla in the room, which is the US deficit issue.
Unfortunately, it looks as though we are going to see postponement of dealing with that issue until after the next general election in America in 2012. Goodness knows what the position will be in 2013.”
Sir Martin Sorrell, Chief Executive Officer, WPP Plc





Kiran Mazumdar-Shaw, Chairperson and Managing Director, Biocon India
The Future of Employment
“Manufacturing – conventional, traditional manufacturing – is going to move East, because that's where the lower labour costs are, that's where the better capital efficiencies are.
So this is the shape of things to come, and the West has to accept it.”
Kiran Mazumdar-Shaw, Chairperson and Managing Director, Biocon India 







Arianna Huffington, Co-Founder and Editor-in-Chief, Huffington Post

The Future of Employment
 “When the West brought a sense of urgency to saving the financial system, they saved the financial system...  We never brought that same sense of urgency around jobs.”
“It's not just the economic problems that ensue, it is the political instability that is growing.”
Arianna Huffington, Co-Founder and Editor-in-Chief, Huffington Post

 





Laura D'Andrea Tyson, Professor of Business Administration and Economics, University of California, Berkeley

The Future of Employment
 “What’s happened in the United States is that we’ve had a restructuring of manufacturing…    
The nature of the jobs available to US workers has changed and there has been a loss of jobs in the middle … The problem is not a lack of jobs, it’s a lack of good jobs.  And we have seen the polarization of employment both in the US and in the rest of the Western economies.”
Laura D'Andrea Tyson, Professor of Business Administration and Economics, University of California, Berkeley

 


 
Philip J. Jennings, General Secretary, UNI Global Union
The Future of Employment
“There was a rotten business model in the West, which brought those economies to their knees.  It was the people that paid the bill.  They are angry – they are cornered.”
“If I have to face a group of workers, and I say, 'The future is in the East,' there will be more Jasmine Revolutions by the day.”
Philip J. Jennings, General Secretary, UNI Global Union 






Amy Gutmann, President, University of Pennsylvania


The Future of Employment
“India and China are avidly competing with the American model of higher education.  We welcome that competition.  We can learn from them, just as they have learned from us.”
Amy Gutmann, President, University of Pennsylvania  





 
Laura D'Andrea Tyson, Professor of Business Administration and Economics, University of California, Berkeley
The Future of Employment
“There are lots of countries in Europe... that combine security with flexibility and high levels of training in the workforce.  
Germany, we know, has been able to survive this recession and basically rebuild its manufacturing strength, with very high-cost technically-trained workers.”
Laura D'Andrea Tyson, Professor of Business Administration and Economics, University of California, Berkeley