Survey finds CEOs more confident of global growth
Business leaders gathering in the Swiss ski resort town of Davos have made it a top priority to reshape the global economy. Survey shows that with the worst of the global financial crisis behind them, the world’s corporate leaders are gradually switching from survival mode to growth mode.
The mood’s lighter this year at Davos. There’s a promising outlook on global growth. And Matt Damon, gently poking fun at the proceedings with a mock film awards speech.
"And then I get a big kiss from Bono. Anyway, I don’t know, I’ll do that next year maybe," said Matt Damon, actor and co-founder of Water.org.
The Hollywood star was getting an award - for work towards providing clean, safe water in developing countries. Just one theme among many but with the focus very firmly on recovery.
A PwC survey shows 44 per cent of business leaders see the economy picking up this year, up from 18 per cent the year before.
Though there’s still a way to go for the world’s financial system. John Lipsky is a former IMF executive turned foreign policy expert at Johns Hopkins.
"It’s not performing adequately, especially true in the euro zone where the recapitalisation and cleaning the bank balance sheet remains incomplete and more action is needed," he said.
There’s talk that old-world, developed economies, the U.S. Britain, Germany and Japan - will be the new locomotives of growth. Eclipsing Brazil and other emerging markets, as the boom in commodities, the so-called ’commodities super-cyle’ that has so boosted their economies, splutters to a halt. Stephen Wieting of Citi.
