January 26, 2009

Sober economic forum expected

The 39th World Economic Forum in Davos, Switzerland, is likely to find participants in a sober mood this week, one participant said.

We're at an unbelievably critical juncture in the global economy debate, said Stephen Roach, chairman of Morgan Stanley Asia. This will not be a normal year at Davos.

Leaders scheduled to appear at the forum, titled Shaping the Post-Crisis World, include Russian Prime Minister Vladimir Putin, British Prime Minister Gordon Brown and Chinese Premier Wen Jiabao.

There will be lots of discussions behind the scenes and lots of cross-checking: 'What are you seeing in your place?', 'What is working?' said Mark Spelman, head of global strategy at Accenture.," The Daily Telegraph reported Monday.

U.S. President Barack Obama is not expected to attend, but the U.S. delegation will include his choice for Treasury secretary, Timothy Geithner, and Lawrence Summers, director of the National Economic Council.

The forum begins Wednesday.