Resilient Dynamism: What does it mean?
Starting tomorrow, the world’s rich and powerful assemble in Swiss ski resort of Davos for an annual summit that, over the years, has come to mean different things to different people.
Some deride as a millionaire’s cocktail party where a lot gets talked about but not much gets translated into action. Some describe it as an audacious forum where participants are seeking or pretending to seek solutions to problems that they are often a part of. Others see it as a useful platform for constructive networking, new ideas and lively debates on contemporary issues and challenges facing the world.
Be that as it may, this annual summit in the Alps continues to draw the best of minds, entrepreneurs and leaders from around the globe and what they say and do at the five-day event is closely watched for clues, guidance and inspiration.
It is for this reason that one gets more anxious about the future. And the reason lies in the theme of this year’s summit — “resilient dynamism”.
At best it’s a misnomer that means nothing and at worst it mirrors how clueless could the leaders at the summit be about what’s happening to the world around. The theme is as unclear in its meaning as the future of the world economy. Just as we don’t know how bad can it get for the Euro zone and Japan struggling to stave off a recession.
The US has delayed fiscal cliff, but it’s debt crisis is far from over. Into the second quarter of the year, it will likely be forced to take to major spending cuts that will have dampening impact on the growth of the world economy.
There are no indications when and how the emerging economies will get into a stronger recovery track. That leaves China and India, which may still grow at a modest pace but face downside risks emanating from political changes.
Past prescriptions have failed, new ideas are eluding. Perhaps, that is the reason why the organizers have settled for such a vague theme.