The World Economic Forum (WEF) blogger, who agreed to give us updates, has sent his second instalment.
Here is his latest blog post:
By BG Srinivas
“The last 24 hours at the WEF in Davos has presented plenty of opportunities for business leaders to present, discuss and debate the economic hot topics on the agenda.
Despite the tragic airport bombing in Moscow on Monday, Russian Federation President, Dmitry Medvedev, made it to the opening the WEF yesterday. He passionately believed that it was important for him to fly in and use the platform to deliver the message that we should not be daunted by terrorism and it will not be tolerated. He emphasised the need for nations to collaborate to prevent any future attacks.
The rest of his speech focused on the need to modernise the economy in the medium and long term through the increase of trade, innovation and technology. Medvedev, particularly stressed how technology opens up the world to transparent communication and plugs the knowledge gap, so measures should not be taken to prevent or restrict ‘the open voice’ of the internet. He also talked about growing trade through the ecosystem of Europe and how Russia will be striving to eliminate corruption and develop its socio-economical infrastructure through entrepreneurship.
I also attended workshops on economic sustainability and value chains, which discussed at length consumer preferences, how they want experiences over products, and the requirement to recycle and reuse to sustain the environment. Again, there was an emphasis on how technology will play a role in mobilising society, be it through communication or transport.
In more informal discussions with CEO’s, there was greater optimism over the economy picking up and stabilising compared to last year. Many executives are keen to investigate new models for revenue generation, by investing in a partner ecosystem and by building upon the relationships between the developed and emerging markets, which will ultimately add value to the consumer.”