By 2050 the big economies will no longer be emerging, and the emerging economies will no longer be very big
It was an eventful and exciting week at the World Economic Forum’s Annual Meeting at Davos last month, which was started with the backdrop of the ongoing Eurozone crisis that the region was battling with.
It was eventful because the annual meeting, as every year, provided business leaders with the ideal platform to get together to discuss and debate on key issues that the world was facing with today. It was exciting because despite the vast diversity of events and business leaders that participated in them, what emerged was a common focus - the need for businesses and business leaders to adapt to the emerging future that we are faced with.
The demand for energy is expected to double in the next 40 years globally, as populations grow and access to electricity increases, yet a large-scale, safe alternative to fossil fuels has yet to be built.
During Europe's financial crisis the European Central Bank has been "an anchor of stability and confidence," former president Jean-Claude Trichet told CNBC Friday.
Volatility has become a way of life, but people still have to eat. That's why sales at Dupont's agricultural businesses, including seed and insecticide, have been strong, CEO Ellen Kullman told CNBC.
The biggest risk brought on by the euro debt crisis is "Balkanization" – the fragmentation of economic interests according to narrow, mainly national criteria, UK Chancellor George Osborne told CNBC Friday.
The euro has fundamental flaws, with no room for flexibility and Europe needs to move towards a political union as the euro cannot survive in its current format, Dr Gerard Lyons, chief economist at Standard Chartered told CNBC on Friday at the World Economic Forum in Davos.
Proposals for a tax on financial transactions, which caused UK Prime Minister David Cameron to refuse to vote for proposed changes to the European Union treaty to create a closer fiscal compact for the euro zone, will become reality, Wolfgang Schaueble, Germany’s finance minister, told CNBC at the World Economic Forum in Davos Friday.
Once again, the World Economic Forum's lineup of keynote speakers was extremely impressive. Let's be frank, what other forum in the world—especially in such an inconvenient and remote location—actually manages to attract not just German Chancellor Angela Merkel and UK Prime Minister David Cameron, but also policy heavyweights Mario Draghi from the European Central Bank and Timothy Geithner from the US Treasury Department in the space of only three days? Well, very few.
But browsing through the session and attendees lists, I couldn't shake off the thought that some of the key people are actually missing this year. No, I'm not talking Bono and Angelina Jolie.