Beside the current economic news calendar this days the market agenda is also dominate about Davos - World Economic Forum meeting.You may be asking yourself what's this meeting all about, well if you visit their website they describe themselves as follow: "The World Economic Forum is an independent international organization committed to improving the state of the world by engaging business, political, academic and other leaders of society to shape global, regional and industry agendas. Incorporated as a not-for-profit foundation in 1971, and headquartered in Geneva, Switzerland, the Forum is tied to no political, partisan or national interests."
At the end of the first full day of the World Economic Forum’s Annual Meeting in Davos, we can draw the most inspiring and insightful quotes and some conclusions about the meeting:
- "I ask you to ensure that humanity is served by wealth and not ruled by it." Pope Francis, in a statement read by Cardinal Turkson in Welcoming Message by the Executive Chairman on Tuesday.
- "Japan must become a place where women shine. By 2020 we will make 30% of leading positions occupied by women." Shinzo Abe, Prime Minister of Japan in The Reshaping of the World: Vision from Japan.
- "By the end of this year, we will have more mobile traffic than PC traffic." Marissa Mayer, Chief Executive Officer, Yahoo.
- "People always underestimate what Africa can be. By 2050 we will have a united Africa with one common market." Aliko Dangote, President and Chief Executive Officer, Dangote Group, Nigeria Davos Co-Chair in Africa’s Next Billion.
- "The question of the right to privacy must be one of the defining issues of our time." Salil Shetty, Secretary-General, Amnesty International in The Big Brother Problem.
- "Philanthropy can take the risks that others cannot or will not." Judith Rodin, President, Rockefeller Foundation.
- "Every member of humanity has the potential to become members of the success story of a creative economy". Park Geun-hye, President of the Republic of Korea in Reshaping the World through Entrepreneurship, Education and Employment.
- "Let us all accept that there is no easy fix for youth unemployment. However, partnerships between the public and private sectors can make a big difference." Ellen Johnson-Sirleaf, President of the Republic of Liberia.
- "India aims to raise manufacturing’s share of GDP from 16% to 25% and create 100 million skilled jobs. This is a must do." Anand Sharma, Minister of Commerce and Industry of India.
Among one of the most important thing that happen during the Davos meeting was the tensions between Tokyo and Beijing which took centre-stage at the World Economic Forum in Davos on Wednesday as Japan's prime minister called for military restraint in Asia and a senior Chinese academic called him a troublemaker.
Also one of the biggest Hedge Fund Manager Ray Dalio spoke on a panel at the World Economic Forum in Davos focusing on the current outlook for the economy. One of his main message was that the Central Banks around the world would keep easy monetary settings in place for some time. But the most intrigue message was his view on US and China: " The US Is In The Boring Years, And China Is In A Bubble".
There where many variety of subject covered on Davos meeting from humanity, society, technology and economy and here are one of the most interesting projections and expectations for the future:
- "The Internet of Everything (connected devices) will add $19 TRILLION to the economy over next decade." John Chambers
- "1984, 1000 devices connected to the Internet, today, 10 BILLION." John Chambers, CEO of Cisco.
- "Competition is not going to be between countries - it will be between cities" John Chambers,CEO Cisco.
- "2014 will be the TIPPING point of how IT changes the world." John Chambers, CEO of Cisco.
- World's 85 wealthiest people own same wealth as bottom 3.5 BILLION (1/2 of planet!).
- Today there are 10 billion connected devices. In 1984 there were 1,000. That's 71% compound annual growth for 30 years!
- "It's really not Big Brother, it's Big Data + Little Sister (who knows everything about you)" President of Estonia.
- "Trust without transparency is a VERY frail proposition." Orit Gadiesh, Bain & Company at WEF panel on Big Brother.
- "Technology has always been both creating jobs AND destroying jobs." Bryn Jolfsson.
- "He who builds the deepest relationships with their customers will be the biggest winners in the future." Marc Benioff.
- "The mobile Internet is driving out inefficiencies in every single aspect of life." Randall Stephenson, CEO of AT&T.
After this long rant I should start broadcasting from Davos. LOL But, at least I hope you will enjoy it as much as I did.
Best Regards,
Daytrader21.
