Diplomacy mixes with economy at Davos gathering

Christine Lagarde, Managing Director of the International Monetary Fund (IMF), stressed calm in the face of recent volatility.

Oscar Onyema, will also be speaking today in session entitled Regions in Transformation: Sub-Saharan Africa, where global investor groups would be discussing shifts and uncertainties shaping the businesses and markets in sub-Saharan Africa.

The “World Economic Forum” annual meeting is happening this week everyone.

When asked to respond to the remarks from the prime minister and mayor, Alberta Energy Minister Margaret McCuaig-Boyd released a brief statement, saying the provincial government is focused on creating jobs and building a stronger economy in the wake of a global drop in oil prices.

The annual World Economic Forum in the Swiss ski resort of Davos is about global diplomacy.

An official statement issued at the end of the meeting, said talks were held in a warm and cordial atmosphere saying: “The participants reviewed the peace and reconciliation process in Afghanistan that is being pursued on the establishment of the quadrilateral mechanism that resulted from the Heart of Asia Istanbul Process”.

“Market turmoil can be a harbinger that something is wrong and even if it is irrational, can have real consequences”.

“There are no loose cannons that are going to be running China…”

As Nadella said, adoption rates of technology will vary on a country by country basis and a UBS report released in Davos revealed how extreme levels of automation and connectivity will damage further the inequality and wealth gap between the developed and developing economies, as Reuters reported.

“The sea is rough but we’ve got to ride it”.

He added, the nation needs to have more flexibility in many fields, such as its labor market.

It is a hard transition for any country, let alone during the digital era and with the lack of market liquidity in the post-crisis world, said Gary D. Cohn, President and Chief Operating Officer of Goldman Sachs, USA.

This was echoed by Professor Ding Yuan, vice-president and dean of the China Europe International Business School in Shanghai, who told Reuters it would be wrong to take the small devaluation of the Chinese yuan and the falls in the Shanghai 300 index as indicators of China’s economic health. People are focusing on the short term too much. Twenty years ago, we described this problem as an addiction.

For CEOs at Davos trying to navigate the year ahead, the price of oil remains the great unknown. “Who knows what’s going to happen in 2016?”