The most recent World Economic Outlook of the International Monetary Fund forecasts that growth of the world economy will slow to 3.7% in 2008, versus 4.9% in 2007. While over 50% of global GDP is generated by the G7 industrialized economies, and despite the recent slowdown in Europe and continued anticipation of a recession in the United States, the good news is that robust growth is occurring elsewhere in the world, driven by industries outside of the battered financial sector.

At the forefront of this next wave of growth is the Forum’s Community of Global Growth Companies, a new breed of high-growth enterprises that are by definition global in outlook. A survey of CEOs from these companies, conducted jointly with the Harvard Business Review, revealed that they are focusing more attention overseas than on their domestic markets. These new champions are looking to engage with the most dynamic cities and regions associated with the innovations and technologies that will reshape the future business landscape. Joining them in Tianjin are a select group of mayors and governors, technology pioneers, young scientists and policy-makers from countries with outstanding growth potential.

The programme concentrates on five key themes that enable business leaders to take a deep dive into the Next Wave of Growth:

I. Going Global
For many global growth companies, the main internal challenge of their overseas expansion is the development of corporate managers who can navigate different cultural contexts and think globally. In contrast, external challenges related to global growth are increasingly connected to the ability, or willingness, to collaborate with different actors to establish public-private partnerships, galvanize multiple stakeholders and work with fast-growing local competitors.

II. Managing Risks
Economic interdependence means that downturns and shocks no longer occur in isolation but are more likely than ever to cut across regions, markets and industries. Global growth is threatened by curbs and constraints that are political, social or environmental in origin. Most are triggered by or linked to reactions to a sudden downturn or shock, thus a backlash to globalization can take many forms and emerge at any time.

III. Drivers of Future Growth
Emerging and developing economies, if combined, account for two-thirds of the world’s growth when measured on the basis of purchasing price parity. As a result of this growth, the IMF forecasts that these countries will manage a current account surplus totalling over US$ 700 billion in 2008. Yet, this growth now faces headwinds linked to rising commodity prices, a weakened US dollar and the need to be environmentally and socially sustainable. Given the overwhelming global trend towards urbanization, cities will be at the vanguard of opportunities and challenges related to future growth.

IV. Technology and Innovation: The Next Wave
Advances in nanotechnology, genetics and computer science combined with progress in related disciplines such as engineering, medicine and finance make science and technology an inescapable presence in our daily lives. Faced with a growing roster of technological innovations that may rapidly reshape their industries, companies are on alert for disruptive technologies and innovative new models that may emerge around the globe.

V. China as a Global Player
2008 marks the 30th anniversary of China’s now historic “Opening and Reform Policy” and its first interaction with the World Economic Forum. Membership in the WTO, over US$ 1 trillion in foreign currency reserves and the creation of the world’s largest markets for mobile telephone and Internet use are some of the country’s impressive economic milestones since 1978. As China’s integration into the world economy enters a new phase as a result of its increasing political influence, technological advancement and changing societal needs, a series of sessions will explore how the country is poised to emerge as a global player and how that journey will reshape its foreign, trade and investment policies in the future.


Mentors
A select group of business leaders with extensive international experience in building global businesses from the World Economic Forum’s Partner and Members act as mentors.

Khalid Abdulla-Janahi, Chairman, Ithmaar Bank, Bahrain
Peter Bakker, Chief Executive Officer, TNT, Netherlands
Samuel A. DiPiazza Jr, Chief Executive Officer, PricewaterhouseCoopers International, PricewaterhouseCoopers, USA
Thomas Enders, Chief Executive Officer, Airbus, France
Jiang Jianqing, Chairman of the Board, Industrial and Commercial Bank of China, People's Republic of China
Frank Ning Gaoning, Chairman, COFCO, People's Republic of China
James H. Quigley, Global Chief Executive Officer, Deloitte, USA
William R. Rhodes, Senior Vice-Chairman, Citigroup; Chairman, President and Chief Executive Officer, Citibank NA, Citi, USA
James S. Turley, Chairman and Chief Executive Officer, Ernst & Young, USA Ruben K. Vardanian, Chairman of the Board and Chief Executive Officer, Troika Dialog Group, Russian Federation
Yang Yuanqing, Chairman of the Board, Lenovo, USA

For more information, visit www.weforum.org/newchampions or contact NewChampions@weforum.org

Confronting Challenges in Defining a Collaborative Future
The first World Economic Forum on Europe and Central Asia will be held in Istanbul, Turkey, a place that symbolizes the merging of continents and civilizations, recently buoyed by exceptional economic growth and political stability.

Heads of state, international and regional business leaders as well as media, cultural and religious leaders from across Europe, Turkey, Russia, Central Asia and the Middle East will come together to address regional challenges and emerging opportunities.

The meeting will be clustered around four critical areas: business opportunities across the regions; intertwining energy security issues; the emerging collaboration architecture in Central Asia; and Turkey’s strategic leadership role in the region as a bridge between Europe, Asia and the Middle East.

An extraordinary array of participants have already confirmed their participation in what promises to be a landmark event. Specific sessions will be dedicated to examining business and defining strategies to compete with the influence of the Asian economies in the wake of a global economic slowdown, addressing cross-regional challenges, uncertainties and conflicting interests and setting the regional geopolitical and security agenda for the coming years.

Key religious leaders will also lead discussions to advance intercultural and interreligious dialogue as a precondition for prosperity, stability and security across the entire region. The fragility of peace in the heart of Eurasia, as indicated by the human and economic destruction caused by the recent turmoil in the Caucasus, will be the focus of another session, where participants will explore the long-term prospects for the region and map the path towards a collaborative future.

“Turkey has become a number one partner, mediator and agent for stability and positive change not only in the Balkans, the Black Sea and the Mediterranean regions, but also in Pakistan, Afghanistan, Central Asia and Africa.”

Co-Chairs
Herman Gref, Chairman and Chief Executive Officer, Sberbank RF, Russian Federation; Minister of Economic Development and Trade of the Russian Federation (2000-2007)
Muhtar A. Kent, President and Chief Executive Officer, The Coca-Cola Company, USA Neelie Kroes, Commissioner, Competition, European Commission, Brussels
Jean Lemierre, President, European Bank for Reconstruction and Development (2000-2008), London

For more information, visit www.weforum.org/europecentralasia2008 or contact EuropeCentralAsia@weforum.org

Capitalizing on Opportunity
When more than 800 business, government and civil society leaders from 50 countries met in Cape Town for the 18th World Economic Forum on Africa, the optimism generated by yet another year of strong economic growth on the continent was evident. "Africa is becoming an interesting and exciting investment destination," said Maria Ramos, Group Chief Executive of Transnet, South Africa. Thabo Mbeki, President of South Africa, commented, "There really has been progress in addressing the issue of peace and stability and democratization. This process is irreversible." Added his Ghanaian counterpart, John Agyekum Kufuor: "The opportunities for Africa are immense."

The sense of achievement, however, was tempered by the shared appreciation that the going will only get tougher, given the slowdown in the global economy and rising energy and food prices.

Nonetheless, participants chose to remain resolute and to look forward for ways in which Africa can bridge the gap between the challenges and opportunities and capitalize on the drivers of growth. Africans, said Bingu Wa Mutharika, President of Malawi, "need to change mindset from 'afro-pessimism' to 'afro-optimism'." Africa, he added, "is probably the richest continent in the world but the people are the poorest. Let us recognize that we have all the wealth to enable us to transform our continent and people from poverty to prosperity."

"The opportunities, threats and challenges Africans face require strong partnerships among government, business and civil society. They also require strong African cooperation and engagement with the world."

For more information, visit www.weforum.org/africa2008

Some 80 top CEOs from the World Economic Forum’s Member companies held a series of private meetings with the new Russian President Dmitry Medvedev and key ministers at the Russia CEO Roundtable in St Petersburg. This first meeting of President Medvedev with the international business community came exactly one month after his inauguration.

"Everybody came away deeply impressed with the president’s keen knowledge of the business challenges and the opportunities that are present in Russia, and also his willingness to have an open and transparent dialogue," said Muhtar A. Kent, President and Chief Operating Officer of The Coca-Cola Company, after the private meeting with the president. "The businessmen raised two issues to be addressed: issue number one was the need for a more transparent legal and judicial system, and the second was infrastructure. Russia will become choked at this rate of development if major investments are not embarked upon now," he added.

The CEOs from World Economic Forum Member companies also met privately with Igor Shuvalov, First Deputy Prime Minister, and Elvira Nabiullina, Minister of Economic Development, to discuss how Russia’s strong economic performance can be coupled with a continuing commitment to reforms.

For more information, visit www.weforum.org/russia2008

Responding to New Uncertainties
At the 17th World Economic Forum on East Asia, more than 300 business, government and civil society leaders from 25 countries arrived knowing that the region is facing new uncertainties. While it remains clear that the geopolitical and economic power equation is shifting its direction, rising food and fuel prices are raising the spectres of inflation and protectionism and, worst of all, the possibility that many Asians – who in recent years have moved out of poverty – may again move back down. This could lead to social and political instability in several countries in the region.

Indeed, these may be the best of times and the worst of times for East Asia. At the Welcome Reception for participants, Malaysian Prime Minister Abdullah Ahmad Badawi hailed the region as full of "immense promise and dynamism". But, he warned, "the economic well-being of the region and, indeed, the world is coming under increasing and serious threat. The threat is emanating from three primary sources: rising food prices, spiralling costs of energy and the very real prospect of global economic recession. We have faced serious challenges before, but rarely in such potent combination."

The World Economic Forum on East Asia offered an excellent platform to discuss these difficult issues. As Ahn Ho-Young, Deputy Minister for Trade of the Republic of Korea, put it, "the World Economic Forum is about turning challenges into opportunities."

Climate change and water shortage emerged as the top issues with the greatest impact on Asia, according to a survey of business leaders by the World Economic Forum that was released at the close of the meeting.

For more information, visit www.weforum.org/eastasia2008