Elite ponder threats to globalization

Posted by Matt in January 25th, 2007

DAVOS, Switzerland - The high-profile Davos meeting of the international political, business, economic and academic elite began on Wednesday on the somber note that globalization is facing major threats due to worsening climate change, growing income disparities, escalating barriers to the movement of people, and global political and economic instability.

“We are living in a schizophrenic world,” Klaus Schwab, founder and chief executive of the World Economic Forum, said at a press
conference, arguing that “there are so many underlying imbalances, fragilities, and inconsistencies” that need to be addressed on a war footing if the world is to be made a safe place. He said there are 23 risks that are posing a major challenge to globalization, especially climate change and the stalemate in global trade negotiations. The situation in the Middle East is another major problem that needs to be addressed on a firm footing, he suggested, indicating that Davos is the best platform that can set the stage for arriving at appropriate answers on these global risks.

The central theme of this year’s meeting is “shifting power equations”, which aims to grapple with ongoing changes in the world.

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