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January 27, 2009

Five Challenges for Those at Davos

By Spear's

Klaus Schwab, the founder of the World Economic Forum at Davos, explains how a new global era demands new global responses from our leaders.

What we are currently experiencing with the financial crisis and its consequences is the birth of a new era: a wake-up call to overhaul our institutions, our systems and our thinking. It is a call to remind us of the need to adjust our values to the needs of a world which rightly expects a much higher degree of accountability.

If we recognise this crisis as being really transformational, we can lay the foundation for a more stable, more sustainable and more prosperous world after the crisis. Here are five specific objectives for the annual meeting of the World Economic Forum at Davos this year.

First, we need to support governments, and particularly the G20. Governments have a crucial role to play to address the systemic risks in the financial systems to stabilise and relaunch the economy. We need to have a thorough assessment of the systems failures and the mistakes we made.

To read the full article, visit Wealth Bulletin

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