Skip to: Content
Skip to: Site Navigation
Skip to: Search

July 25, 2008 4:55:46 PM CDT

Learn about Newser Points »

« Back to the grid | Next story »

US Sneeze Doesn't Spook Many at Davos

Posted Jan 23, 08 5:01 PM CST in Business,  World 

(Newser) – Bigwigs spooked by the downturn in the US economy aren't spreading their usual cheer at the World Economic Forum in Switzerland, Fortune reports, but many other Davos attendees are smiling. Representatives say the Indian and Chinese economies are strong enough to weather recession; many agree with George Soros that “the current crisis is the end of an era based on the dollar.”

The moping among Americans is unusual, but a survey of CEOs from around the world still finds 50% are “very confident” about revenue growth this year (down from 52% last year). Indeed, it might just be that financial power is moving on from American pastures as the balance of world economic power tilts away from its current dominant force. The five-day forum got under way today.

Source CNN

0 comments | Print E-mail | Digg Seed this on Newsvine Add this link to Del.icio.us StumbleUpon

Related Newser Stories

  • Rich Countries Getting Soaked for a Change

    Jul 17, 08 10:02 AM CDT
    Rich Countries Getting Soaked for a Change As the US and other developed economies feel the crunch of a housing collapse and credit crisis, emerging economies, especially those fueled by commodities, have yet to feel the pinch, the Washington Post reports. "We are overloaded with money, crazy amounts of money from the energy market," a professor says of oil-rich Russia. More »

  • Axis of Wealth Shifting East

    Jun 25, 08 2:43 AM CDT
    Axis of Wealth Shifting East Nations once known for extremes of poverty—China, India and Brazil—are now producing more of the world's millionaires and super rich than ever before, according to a new study of the globe's wealthiest entrepreneurs. The US is losing ground to emerging markets when it comes to producing personal wealth, reports the Wall Street Journal. More »

  • World Pop. to Hit 7B by 2012

    Jun 20, 08 2:37 AM CDT
    The world's soaring population is expected to hit 7 billion by 2012, further straining thinly stretched natural resources, AP reports. The current population is 6.7 billion, and growing at 1.2% a year, spurred by increasing medical and nutritional advances in developing countries. But as more women in developing nations join the work force, the growth rate is expected to slow—eventually to .5% by 2050. More »

  • Speculation Not Driving Boom in Commodities

    May 8, 08 4:29 PM CDT
    Speculation Not Driving Boom in Commodities A majority of economists think the upswing in food and energy prices is due to fundamental issues of supply and demand—and not driven by speculation, a Wall Street Journal survey finds; 51% pegged demand from China and India as the chief cause of the oil boom. More »

  • Weak Dollar Not Slowing US Vacations

    May 3, 08 3:41 PM CDT
    Weak Dollar Not Slowing US Vacations The dollar may be weak, but Americans’ desire to travel overseas this summer is strong, the Los Angeles Times reports. While domestic travel has appeared to hit the skids, more than 25 million Americans will grab their passports and take off for adventures abroad—up 2.6% from last year, AAA says. More »

US Secretary of State Condoleezza Rice waits for her call on stage before addressing the opening plenary session on the first day of the Annual Meeting of the World Economic Forum, WEF, in Davos, Switzerland,...   (Associated Press)
US Secretary of State Condoleezza Rice addresses the World Economic Forum 23 January 2008. The WEF annual Davos gathering of the world's political and business elite opened Wednesday. This year's invitation...   (Getty Images)
Randall L.Stephenson, Chairman and CEO of AT and T listens during a debate in davos 23 January 2008. The World Economic Forum annual Davos gathering of the world's political and business elite opened...   (Getty Images)
Michael Klein, Chairman and Co-Chief Executive Officer, Market and Banking of Citi Group, speaks during a panel session the first day of the Annual Meeting of the World Economic Forum, WEF, in Davos,...   (Associated Press)
« Prev« Prev | Next »Next » Slideshow
Our editors also recommend:

Threads (1 of 5)

Tags

China  • recession  • India  • World Economic Forum  • Davos


Loading...

Loading...

Today's Most Popular


Other World Stories

What is Newser?

2008 Codie Finalist

Newser gives you more news in less time. We search for the best and most important stories all over the web, read them for you, and deliver concise and sharp summaries—along with links to the full text. Newser provides a way to stay on top of an ever-expanding horizon of news and opinion—politics, sports, business, trends, technology, personalities, crimes, and controversies. Newser keeps you not just better informed, but, with our signature graphic interface and smart condensed format, more enjoyably informed.

Learn more »