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Lots On China, Few Star Names As Davos Forum Wraps Up
Davos, Switzerland, Jan 29 (AFP) Jan 29, 2006 The Davos forum of political and business leaders wrapped up Sunday after five days of high-profile networking dominated by China's growing clout, even if star names were in short supply. The World Economic Forum drew to a close with a spiritual session, in which Roman Catholic Archbishop Diarmuid Martin joined Buddhist, Jewish, Muslim and Orthodox leaders in calling on the predominantly corporate audience to tackle "obscene poverty". The fight against disease, energy supply fears and the hi-tech future also figured strongly at the Forum, where this year's agenda, with a shortage of A-star US and European leaders, returned to its business roots. China, and to a lesser extent other surging Asian economies such as India, dominated debate with executives and politicians keen to predict and tap into their huge potential. "The market economy has taken root," proclaimed Chinese Vice Premier Zeng Peiyan, Beijing's top planner. "The next few years are a window of important opportunities." Since Chinese officials first joined the bastion of economic liberalism at Davos, their export-driven economy has grown an average of 9.6 percent a year, inspiring admiration and trepidation. Zeng said the next five-year economic plan would place more emphasis on social progress and rural poverty, while other officials predicted more takeovers by Chinese companies expanding their global presence. US Secretary of State Condoleezza Rice noted China's emerging influence, calling on Beijing, by video link to be a "responsible actor" on the world stage and not to merely pursue its own economic interests. In sharp contrast, many analysts expressed concern for the state of the US economy and its huge current account deficit. Stephen Roach, chief economist with US bank Morgan Stanley, warned of "a dangerous degree of complacency". It was left to German Chancellor Angela Merkel, the opening day's speaker, to preach the virtues of the free market although she too warned of the potential of "social disorder" if capitalism was not married to social progress. Executives, too, fretted about security of oil and gas supplies, with the industry admitting a few days before a meeting of oil-producing countries in Vienna that they had no clear response in the face of an energy crisis. Aside from raw economics, US billionaire Bill Gates pledged a further 600 million dollars to the global fight against tuberculosis, which claims a life every 15 seconds. "Although it is almost eliminated in rich countries, it's still one of the biggest killers worldwide," he told a press conference. Bird flu, a potentially huge killer disease, also exercised minds, with UN and national health officials consulting here with business executives on how to respond in case of a pandemic in humans. On the political stage, Rice had a blunt warning for Iran over its nuclear programme, but British Foreign Secretary Jack Straw seemed more conciliatory, saying any deal had to allow Tehran to preserve its "national dignity". Rice reacted in her video comments to the stunning election victory of the Palestinian militant group Hamas, reiterating US opposition to a movement that advocates the destruction of the state of Israel. Former US president Bill Clinton, though, suggested that Hamas, like the Irish Republican Army in Northern Ireland, should be given more time to disarm, and Turkish Prime Minister Recep Tayyip Erdogan offered to mediate between Hamas and the Jewish state. Separately, Pakistani President Pervez Musharraf called for a new approach to resolve the dispute with India over Kashmir, while President Hamid Karzai said foreign troops would likely be needed in Afghanistan for a decade. Rock star and activist Bono provided some much-needed glamour, launching a label, Red, designed to harness durable funding from top brands with consumer power to fight AIDS in poor countries. Pregnant movie star and UN goodwill ambassador Angelina Jolie, a frequent Davos participant, came with partner Brad Pitt, both trailed by photographers wherever they went. Meanwhile on the margins of the Forum, nearly 20 ministers from key World Trade Organisation nations drew up a detailed timeframe to smooth progress in global trade talks.
Source: Agence France-Presse Community Email This Article Comment On This Article Related Links - Global Trade News
Analysis: China's Once-Latent Economic Past
Washington (UPI) Jan 25, 2006Nearly 25 years ago China was seen as less than an economic threat than can be conceived of today. With U.S. foreign policy interests keen on monitoring Beijing's strategic aims in the region and its status as a prospective ally against Soviet aggression, the U.S. trading relationship with China was far from a defining issue. |
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