Davos Annual Meeting 2008 - BBC World Debate Davos
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http://www.weforum.org/annualmeeting 25.01.2008 BBC World Debate: Global Economic Shocks: Perfect Storm Ahead? As the global outlook shifts from uncertainty towards vulnerability, how many more "body blows" can the world economy take? Is a "perfect storm" looming? In partnership with the World Economic Forum, the BBC World Debate explores the vulnerability of the global economy in 2008, from the perspective of both developed and developing nations. What will the consequences be if: Oil and commodity prices keep rising? New financial market shock hits the US and the dollar keeps falling? Dramatic corrections burst the bubbles in emerging markets? The economic centre of gravity continues to shift eastwards? Discussion Leader Cheng Siwei, Vice-Chairman, Standing Committee, National People's Congress, People's Republic of China Palaniappan Chidambaram, Minister of Finance of India Jacob A. Frenkel, Vice-Chairman, American International Group (AIG), USA Kishore Mahbubani, Dean, Lee Kuan Yew School of Public Policy, Singapore Ndi Okereke-Onyiuke, Director-General and Chief Executive Officer, Nigerian Stock Exchange, Nigeria Kenneth Rogoff, Thomas D. Cabot Professor of Public Policy and Professor of Economics, Harvard University, USA John W. Snow, Chairman, Cerberus Capital Management, USA Ben J. Verwaayen, Chief Executive Officer, BT, United Kingdom Moderator Nik Gowing, Main Presenter, BBC World, United Kingdom
Comments
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@kayapage true dude...
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ndi okereke is a mess. she had nothing to offer this discussion, where a clear representation of the African perspective was needed. Why didn't they invite Ngozi Iweala? She was Nigeria's Finance Minister and is also a World Bank Director. She would have been in a better position to speak intelligently about Nigeria and how it relates to the world in terms of finance.
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simple really, lower taxes and increase interest rates... Lower taxes = higher tax revenues and results in an increase of consumer earnings/discretionary spending (positive multiplier). Increase in interest rates would act to slow down the over-extension of credit, and would slow down inflation. A change must be made in government spending, a cut in government spending is KEY.
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Intresting debate and African leaders don't seem to learn a thing from such a meeting.
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I was kissed by a Llama on friday after reading this. Its true.
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By saying 'America', you realize that you include Mexico, Canada, Brazil, Peru, Argentina, etc... Im assuming your a U.S. hater, so you should actually say " U.S. America is screwed!!! Bwhahahahaha!!"
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Omg!!! Fear!!!! Run for your lives!!! Duck and cover!!! The world is coming to an end!!! Come on people. This is nothing new. The economy rises and falls. I lost my job because the home owners market fell. I got another job. Simple. Are you guys buying into this economic fear like the 'global warming' fear? Take a deep breath and get a grip.
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Interesting video but I was surprised to see the entire panel ignore the fact that all of the statements on growth assume a constant supply of cheap oil. This is proof that even at the highest levels of leadership there are very little understanding of what peak oil means.
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Great discussion, certainly some views I would haven't heard anywhere else other than youtube..thanks for posting.
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intense. thanks for posting. great discussion.
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The largest impediment to global economic growth is our collective dependence on finite fossil fuels. I made a video which I advocated that governments give tax incentives for people to implement technology which would reduce the demand for oil. Telecommuting could take millions of people off of the roads very quickly. We also need a global clearinghouse for green technologies. If we collectively purchased the patent rights from inventors and made those inventions public domain we could...
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