Serious Discussions Set for Davos (but No Bono)

Posted by thanhlt

February 8, 2010

Update attached

This is the VOA Special English Economics Report.

The
financial crisis will be the top issue at this year’s World Economic Forum in
Davos, Switzerland. The five-day meeting starts Wednesday, January
twenty-eighth. More than two thousand
five hundred people from ninety-six countries will discuss ways to solve the
crisis.

Members of the Swiss Army place barbed wire on a fence to secure the area at the helicopter landing place for the World Economic Forum

Members of the Swiss Army place barbed wire on a fence to secure the helicopter landing place for the economic forum

The event gathers some of the world’s most powerful
political and business leaders at a small ski village in the Swiss Alps.
Organizers this week announced a program built around the theme: “Shaping
the Post-Crisis World.”

But
with the world still in crisis, there was news that no famous people from show
business will be at the forum this year.
Bono, the social activist and lead singer of the Irish rock group U2,
usually attends. But he will not be attending this year.

Organizers expect a record forty-one heads of state or
government. They include Chinese Premier Wen Jiabao, Russian Prime Minister
Vladimir Putin and the prime minister of Kenya, Raila Odinga.

Among those expected from President Obama’s new
administration is Lawrence Summers, the director of the National Economic
Council. Another is Mister Obama’s national security adviser, retired general
James Jones.

Members of Congress are also on the
guest list, along with former president Bill Clinton, a favorite at Davos. About sixty percent of those attending are
business leaders.

The
World Economic Forum will also discuss global warming, investment in low-carbon
forms of energy in developing countries and other issues.

Klaus Schwab at a press conference this week

Klaus
Schwab is the founder and chairman of the forum. He calls this one of the most
important gatherings in its thirty-nine year history. He says the financial
crisis should be seen as a wake-up call to change systems and ways of thinking,
and to re-establish trust.

KLAUS SCHWAB: “We never will move
out of the crisis if we do not re-establish confidence, which means we have to
establish signposts for the future.”

In
Washington, President Obama wants to sign an economic recovery and investment
plan by the middle of February. Democrats in Congress have proposed a plan that
would cost eight hundred twenty-five billion dollars. Two-thirds of that would
be government spending; one-third would be tax cuts. But minority Republicans
say tax cuts are the best way to get money back into the economy quickly.

And
that’s the VOA Special English Economics Report
Transcripts, MP3s and podcasts of our reports
are at voaspecialenglish.com. I’m Bob Doughty.

___

Update: The Obama administration is sending White House senior adviser, and presidential friend, Valerie Jarrett to Davos. Lawrence Summers and James Jones are to remain in Washington.