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	<title>Business &#38; MoneyCategory: Davos &#124; Business &#38; Money &#124; TIME.com</title>
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		<title>Why the Elites Are Losing Sleep</title>
		<link>http://business.time.com/2013/01/31/why-the-elites-are-losing-sleep/</link>
		<comments>http://business.time.com/2013/01/31/why-the-elites-are-losing-sleep/#comments</comments>
		<pubDate>Thu, 31 Jan 2013 12:04:57 +0000</pubDate>
		<dc:creator>Rana Foroohar</dc:creator>
				<category><![CDATA[Davos]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=69187</guid>
		<description><![CDATA[Who says nothing gets done at the World Economic Forum in Davos, Switzerland? As the weeklong winter fest, which costs tens of thousands of dollars to attend, has grown over the past decade, it has become as much about dealmaking as about brainstorming solutions to the world’s problems. In fact, gray-suited consultants slipping around the Magic Mountain in their city loafers now seem to outnumber genuine thought leaders (to use a very WEF term) by about 2 to 1. Still, the elite haven’t abandoned Davos. This year’s shindig drew several heads of state, the world’s top bankers and a good helping of Fortune 500 CEOs, Nobel laureates and rock-star entrepreneurs (though, for once, no rock stars). Davos remains, as Foreign Policy Group CEO David Rothkopf put it, “the factory in which conventional wisdom is manufactured.” And so it is in that spirit that we offer this year’s best takeaways, factory-direct. A New Bubble? We are now in historically uncharted territory in terms of how much central bankers are doing, in lieu of real political action, to try to boost the global economy. They are buying up trillions of dollars’ worth of bonds and buoying world markets in the process. Apart from a few worried Germans, nobody was talking about this last year. Now everyone is fretting about how the Fed, the European Central Bank (until recently), the Bank of Japan and even Chinese authorities have distorted the prices of assets from stocks to bonds to real estate, quite possibly laying the foundation for a market crash or, in the longer term, hyperinflation. “Central bankers can buy time, but they can’t fix the world’s underlying economic problems,” said UBS chairman and former Bundesbank head Axel Weber, who worries that easy money and low interest rates are covering up the fact that most rich countries still need to pay down debt and create a lot more jobs. “We’re buying short-term fixes at the expense of future generations.” (MORE: Davos Wisdom 2013: Five Lessons from the Global Forum) Hedge-fund titan George Soros believes that the<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=69187&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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	<primary_category>Davos</primary_category><primary_category_link>http://business.time.com/category/davos/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2013/01/485_crana_0211.jpg?w=240</featured_image>
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			<media:title type="html">Axel Weber at Davos</media:title>
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			<media:title type="html">ranaforoohar</media:title>
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		<title>The Future of Davos: Is a Hipper World Forum on Its Way?</title>
		<link>http://business.time.com/2013/01/27/the-future-of-davos-is-a-hipper-world-forum-on-its-way/</link>
		<comments>http://business.time.com/2013/01/27/the-future-of-davos-is-a-hipper-world-forum-on-its-way/#comments</comments>
		<pubDate>Sun, 27 Jan 2013 16:38:09 +0000</pubDate>
		<dc:creator>Roya Wolverson</dc:creator>
				<category><![CDATA[Davos]]></category>
		<category><![CDATA[disruptors]]></category>
		<category><![CDATA[hub culture]]></category>
		<category><![CDATA[World Economic Forum]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=68847</guid>
		<description><![CDATA[If Davos is getting old, as I speculated on this blog earlier this week, the question is, What will take its place? I spent my final hours at the World Economic Forum trying to suss that out. The New Yorker’s John Cassidy, who was not invited to Davos this year, posits that the WEF is a positional good — one whose value &#8220;is mostly a function of its desirability to others.&#8221; If so, the naysayers who pooh-pooh the event and wish it would go away &#8220;have the power to make it do precisely that — by ignoring it,&#8221; muses the Financial Times’ John McDermott. Another of the many media savants left off Klaus Schwab&#8217;s invitation list this year, McDermott farcically proposed organizing his own version of Davos in his backyard in London. (MORE: Davos Wisdom, 2013: Five Lessons from the Global Forum) McDermott may be on to something. All along the famed promenade that runs through town and into the WEF&#8217;s central Congress Center, globally minded organizations have been chipping away at the official WEF itinerary, setting up shop in empty retail spaces and dormant art galleries to host their own events and encourage high-minded side dealings. For example, for several years, the social-networking group Hub Culture has set up camp in an airy meeting space across the street from the WEF beehive to host brainstorming and dealmaking sessions between executives of companies like Nissan and Hertz. One of Hub Culture&#8217;s missions is to bring the backroom dealmaking Davos is known for into the open. For more on what that means, watch this video. The social network is also an evangelist for peer-to-peer finance, which allows individuals and companies to trade outside the erratic global monetary system through virtual currencies (kooky, yes, but even the European Central Bank has paid this some attention). So while global political leaders and hedge-funders sat inside the WEF fretting about the threats of competitive currency devaluations and big banks&#8217; unwillingness to lend, Hub Culture was across the street extolling the virtues of buying into its virtual currency, Ven, to major corporations like BlackBerry and<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=68847&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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	<primary_category>Davos</primary_category><primary_category_link>http://business.time.com/category/davos/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2013/01/biz-davos-0127.jpg?w=240</featured_image>
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			<media:title type="html">People stand in the Swiss resort at the World Economic Forum Annual Meeting 2013 in Davos, Jan. 26, 2013.</media:title>
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			<media:title type="html">royaclare</media:title>
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		<title>Davos Wisdom, 2013: Five Lessons from the Global Forum</title>
		<link>http://business.time.com/2013/01/26/davos-wisdom-2013-five-lessons-from-the-global-forum/</link>
		<comments>http://business.time.com/2013/01/26/davos-wisdom-2013-five-lessons-from-the-global-forum/#comments</comments>
		<pubDate>Sat, 26 Jan 2013 15:53:20 +0000</pubDate>
		<dc:creator>Rana Foroohar</dc:creator>
				<category><![CDATA[Davos]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=68836</guid>
		<description><![CDATA[One of the best descriptions of Davos I ever heard originated with my friend David Rothkopf, the CEO of Foreign Policy, whose book “Superclass” is perhaps the definitive chronicle of Davos man. “Davos,” he says, “is a factory in which the conventional wisdom is manufactured.” If that’s true, it’s worth knowing what was churned out of the factory this week as the World Economic Forum Annual Meeting wraps up today. Here’s my top 5 CW list: (MORE: Davos Crib Sheet: Top Global Risks of 2013) We are entering very risky territory in terms of how much central bankers are doing, in lieu of real political action, to try and boost economic growth. Nobody, with the exception of a few worried Germans, was talking about this last year. Now, everyone is fretting about how the Fed, the ECB (until recently), the Bank of Japan and even the Chinese authorities have distorted asset prices of everything from stocks to bonds to real estate, quite possibly laying the foundation for the next crisis. For more on how all this works, check out my Curious Capitalist column from September 24th, 2012 entitled “The S &#38; P Soars, the Economy Snores.”  Yes, I feel validated, as I’ve been writing this story for some time, but on the other hand, it’s not exactly the sort of thing you want to be right about. Currency wars have become a real possibility. Just as central bankers are keeping interest rates low and asset prices high, so does every country wants to keep its currency down in order to make exports more competitive. Again, I’ve been predicting this for some time; check out my 2011 column on the topic here. The thing is that currency wars create a race to the bottom that can derail the global economy. Hedge fund titan George Soros speculated this week in Davos that we’ll see Germany, the growth engine of Europe, start to slow down in 2013 as a weaker yen props up Japanese exports at the expense of German ones. That could throw<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=68836&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Davos</primary_category><primary_category_link>http://business.time.com/category/davos/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2013/01/davos.jpg?w=240</featured_image>
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			<media:title type="html">DAVOS</media:title>
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			<media:title type="html">ranaforoohar</media:title>
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		<title>The TIME at Davos Debate: The Rewards of Mastering Risk</title>
		<link>http://business.time.com/2013/01/25/the-time-at-davos-debate-the-rewards-of-mastering-risk/</link>
		<comments>http://business.time.com/2013/01/25/the-time-at-davos-debate-the-rewards-of-mastering-risk/#comments</comments>
		<pubDate>Fri, 25 Jan 2013 20:58:49 +0000</pubDate>
		<dc:creator>TIME Staff</dc:creator>
				<category><![CDATA[Davos]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=68780</guid>
		<description><![CDATA[With political gridlock and economic malaise troubling the U.S., Europe and China, the buzzword for this year&#8217;s World Economic Forum in Davos is uncertainty. Who or what will spur the innovation that leads to jobs and growth? Our roundtable discussion on Jan. 23, hosted by TIME and moderated by Jim Frederick, editor of TIME International, included John Chambers, CEO of Cisco; Walmart CEO Mike Duke; Anand Mahindra, managing director of Mahindra &#38; Mahindra; Martin Senn, CEO of the Zurich Insurance Group; Harvard Business School professor Clayton Christensen; and Bain &#38; Co. chairman Orit Gadiesh. Their view? In this difficult economy, even the meaning of innovation remains unclear. — Roya Wolverson (PHOTOS: Are Today&#8217;s Business Leaders Too Afraid of Risk?) LEADING THROUGH RISK Are leaders too risk-averse in their efforts to bring the economy back on track? JOHN CHAMBERS: In our industry, my competitors from 15 to 20 years ago are all gone. And by the way, Cisco could get left behind in the same way. So if you&#8217;re in an environment where you don&#8217;t take risks and don&#8217;t push innovation, you will get left behind very quickly. ORIT GADIESH: But there&#8217;s a difference between being risk-averse and what I would call unfamiliar risk. A lot of what we think is risky is actually unfamiliar. For example, cash used to be hoarded because it was scarce. Not anymore. Cash is actually abundant and is likely to be so for a while. And skills — especially in engineering, science and so on — are scarce today, to the tune of 10 million open positions that cannot be filled in the world. Not moving because of something that is uncertain is never a good thing. Not moving because things are unfamiliar and you haven&#8217;t bothered to learn how to operate on them is really a crime. MARTIN SENN: Before anyone takes any risk, you have to have a reasonable expectation on the return you&#8217;re going to generate. We have at the moment not enough clarity as a function of the economic crisis on<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=68780&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Davos</primary_category><primary_category_link>http://business.time.com/category/davos/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2013/01/970_int_zbdavos_0204.jpg?w=240</featured_image>
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			<media:title type="html">970_int_zbdavos_0204</media:title>
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		<title>Is the Scene At Davos Getting Old?</title>
		<link>http://business.time.com/2013/01/25/is-the-scene-at-davos-getting-old/</link>
		<comments>http://business.time.com/2013/01/25/is-the-scene-at-davos-getting-old/#comments</comments>
		<pubDate>Fri, 25 Jan 2013 20:04:45 +0000</pubDate>
		<dc:creator>Roya Wolverson</dc:creator>
				<category><![CDATA[Davos]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=68360</guid>
		<description><![CDATA[Davos has always been maligned for being a playground for elites. The ambrosial London Mayor Boris Johnson described the event this year as &#8220;a constellation of egos involved in orgies of adulation.&#8221; Of course, exclusivity can work in your favor when trying to build an intellectual global brand. But could the old-world elitism that Davos thrives on be losing its allure? Accusations of hollow hobnobbing were no big deal a decade ago when the conference ruled the roost and there were few alternatives. But in recent years the competition for ideas conferences—TED, the Aspen Ideas Festival, South by Southwest, and the Clinton Global Initiative, to name a few—has heated up. As a result, one of the biggest questions among the under-40 crowd this year isn&#8217;t &#8220;Are we changing the world here?&#8221; but &#8220;What is Davos about?&#8221; Few Davosians would argue that this event, or any big conference for that matter, can really jolt the needle on mammoth issues like China&#8217;s growth problem, global warming, or the grand mission of &#8220;improving the state of the world&#8221; (which is the conference&#8217;s stated goal). But seasoned Davos-goers in the business world tend to justify the $40,000 price tag of attending as the cost of efficient networking. &#8220;I can meet with half my CEO clients here in half a day. At home that would take me at least half a year,&#8221; one executive told me. (MORE: Are Today&#8217;s Business Leaders Too Afraid of Risk?) That may be the case if your clients are mature blue-chip corporations like Coca-Cola or Unilever, but not if they&#8217;re wunderkinds like Facebook, Twitter, or Google. Top executives from all three companies are notably absent this year. No doubt Klaus Schwab, the founder of the World Economic Forum, was irked by the decision of Davos regular Eric Schmidt to skip out and cancel his company&#8217;s usual blowout bash, a marquee event at the Steigenberger Belvedere Hotel where the literati and glitterati share the dance floor. Without bright faces to set the scene at Davos, the fresh corporate blood needed to pay the conference&#8217;s bills<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=68360&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Davos</primary_category><primary_category_link>http://business.time.com/category/davos/</primary_category_link>
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			<media:title type="html">royaclare</media:title>
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		<title>Q&amp;A: Why U.S. Companies Fail to Innovate</title>
		<link>http://business.time.com/2013/01/24/qa-why-u-s-companies-fail-to-innovate/</link>
		<comments>http://business.time.com/2013/01/24/qa-why-u-s-companies-fail-to-innovate/#comments</comments>
		<pubDate>Thu, 24 Jan 2013 18:03:05 +0000</pubDate>
		<dc:creator>Roya Wolverson</dc:creator>
				<category><![CDATA[Davos]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=68254</guid>
		<description><![CDATA[Davosians have been raving about Harvard professor and innovation guru Clayton Christensen’s performance on our TIME Davos panel “Leading Through Adversity” on Jan. 23. So I caught up with him in the World Economic Forum’s bustling Congress Center to dig deeper into the root causes of the innovation lull in the U.S. Why are answers to what’s causing risk-aversion in the economy so elusive? There’s no consensus — both inside of companies and inside the economy — because there’s no common language or agreed-upon way to frame this problem. Often, in investments and innovation of any kind, if you ask the question “Should we do it?” you never get the right answer. Management teams aren’t good at asking questions. In business school, we train them to be good at giving answers. For example, your industry, media, is being badly disrupted. And the question is not “Should we shut the business down?” It’s “Where else in the market are people making money?” And if you don’t ask that question then the conclusion is, “We have to keep the existing business.” In education, at Harvard Business School, we’re getting disrupted by online learning, but if we don’t ask the question “Where in the value chain in the future is money going to be made?” we view online learning as a threat rather than an opportunity. (MORE: Davos Crib Sheet: Top Global Risks of 2013) In which industries are companies asking the right questions? It isn’t industry-specific. There are singular bright lights. In media, the Washington Post asked really good questions when my first book, The Innovator&#8217;s Dilemma, emerged. Businesses that distribute information and news are in the business of training and teaching people. So WaPo bought Kaplan and a bunch of other businesses where you can learn on the job, and those have become so successful that whether or not WaPo makes money is irrelevant. In contrast, almost all the other daily newspapers never asked the question, and they just missed the opportunity to grow. At Harvard Business School, we’re facing a<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=68254&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Davos</primary_category><primary_category_link>http://business.time.com/category/davos/</primary_category_link>
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			<media:title type="html">royaclare</media:title>
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		<title>Are Today&#8217;s Business Leaders Too Afraid of Risk?</title>
		<link>http://business.time.com/2013/01/23/are-todays-business-leaders-too-afraid-of-risk/</link>
		<comments>http://business.time.com/2013/01/23/are-todays-business-leaders-too-afraid-of-risk/#comments</comments>
		<pubDate>Wed, 23 Jan 2013 15:41:38 +0000</pubDate>
		<dc:creator>Roya Wolverson</dc:creator>
				<category><![CDATA[Davos]]></category>
		<category><![CDATA[Economics]]></category>
		<category><![CDATA[Economy]]></category>
		<category><![CDATA[Economy & Policy]]></category>
		<category><![CDATA[Europe]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=67748</guid>
		<description><![CDATA[During this year&#8217;s TIME Davos panel &#8220;Leading through Adversity&#8221; &#8212; video highlights of which you can watch below &#8212; TIME International editor Jim Frederick asked some of the world&#8217;s biggest players in the global economy a simple question: Are leaders too risk-averse in their efforts to bring the economy back on track? It&#8217;s not an unfamiliar query for the likes of Walmart CEO Mike Duke, Cisco CEO John Chambers, and Martin Senn, CEO of Zurich Insurance Group. Indeed, political gridlock has been gripping economies from the U.S. to Germany to Japan, making uncertainty a defining theme of this year&#8217;s Davos chatter. As Eurasia Group&#8217;s Ian Bremmer said at a recent Thomson Reuters event in New York: For &#8220;emerging markets in general, the level of political instability is underpriced for 2013.&#8221; Aside from political risks abroad, corporate executives have taken a lot of heat for using uncertainty about taxes and regulation back home as an excuse to put off investing in jobs and growth. The TIME panel shed some light on the root causes of corporate dithering. Here are some of the themes that emerged: Innovations that don&#8217;t create jobs pay off more quickly Clayton Christensen, the Harvard economist famed for his research on disruptive innovation, said there are three types of innovation: 1) empowering innovations, which transform products that were historically complicated and accessible only to the rich; 2) sustaining innovations that make products better but don&#8217;t create new jobs (take for instance, Toyota&#8217;s invention of the Prius); and 3) efficiency innovations that reduce jobs in the economy. (MORE ON DAVOS: Four Keys to Decoding the World Economic Forum) Christensen explained that, even in an era of cheap cash, companies are still leaning on efficiency innovations because they pay off in the short-term (2 to 3 years) whereas empowering innovations take 5 to 10 years to pay off. Meanwhile, companies have felt pressured to follow the efficiency innovations coming out of Asia, according to panelist Anand Mahindra, CEO of India&#8217;s Mahindra and Mahindra. In India, &#8220;innovation is about a philosophy<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=67748&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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	<primary_category>Davos</primary_category><primary_category_link>http://business.time.com/category/davos/</primary_category_link>
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			<media:title type="html">royaclare</media:title>
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		<title>Davos Crib Sheet: Top Global Risks of 2013 (Be Afraid, Be Very Afraid)</title>
		<link>http://business.time.com/2013/01/23/davos-crib-sheet-top-global-risks-of-2013-be-afraid-be-very-afraid/</link>
		<comments>http://business.time.com/2013/01/23/davos-crib-sheet-top-global-risks-of-2013-be-afraid-be-very-afraid/#comments</comments>
		<pubDate>Wed, 23 Jan 2013 09:00:33 +0000</pubDate>
		<dc:creator>Gary Belsky</dc:creator>
				<category><![CDATA[Davos]]></category>
		<category><![CDATA[Economy & Policy]]></category>
		<category><![CDATA[Ideas for Business]]></category>
		<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[Work In Progress]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=67334</guid>
		<description><![CDATA[With world leaders, business titans, celebrity do-gooders and other publicity-and-hors-d&#8217;oeuvres hounds gathering in Davos-Klosters, Switzerland this week for the World Economic Forum annual meeting, now is as good a time as any to examine what this self-appointed group of world savers believes are the most pressing and/or dangerous problems at which to aim their impressive intellects. So here, for your reading pleasure and/or terror, is a highly edited summary and analysis of the WEF&#8217;s Global Risks 2013 report. It&#8217;s interesting reading, as much for what it tells us about the 1,000 experts whose opinions factored into its formation as it does about society&#8217;s impending perils. The good news—if such a phrase can be used to describe a report whose subject matter runs the gamut from &#8220;cyber attacks&#8221; through &#8220;rising religious fanaticism&#8221; all the way to &#8220;militarization of space&#8221;—is that only two threats appear on the WEF&#8217;s lists of top-five risks by likelihood and by impact. That is, according to the thousand or so experts from industry, academia, and civil society asked by the WEF to evaluate a set of 50 global risks—which Scientific American did a splendid job putting into graphic form—only two of those deemed most likely to cause the most damage are also deemed likely to happen in the near future. So, yes, the phrase &#8220;good news&#8221; is relative. &#8221;Bad news,&#8221; on the other hand, can be used without qualification, in that all the WEF&#8217;s most-likely risks are fairly terrifying, and none of the high-impact dangers seem especially far-fetched. But don&#8217;t let us influence your personal threat level; decide for yourself: Top 5 Most-Likely Risks 1. Severe Economic Disparity 2. Chronic Fiscal Imbalances 3. Rising Greenhouse Gas Emissions 4. Water Supply Crises 5. Mismanagement of Population Aging Top 5 Highest-Impact Risks 1. Major Systemic Financial Failure 2. Water Supply Crises 3. Chronic Fiscal Imbalances 4. Food Shortage Crises 5. Diffusion of Weapons of Mass Destruction (MORE: Four Keys to Decoding the World Economic Forum) As riveting as these lists of really bad things are—as well as Eurasia Group&#8217;s Top Risks 2013 and Ernst &#38; Young&#8217;s Top<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=67334&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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	<primary_category>Davos</primary_category><primary_category_link>http://business.time.com/category/davos/</primary_category_link>
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			<media:title type="html">garybelsky</media:title>
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		<title>Four Keys to Decoding the World Economic Forum</title>
		<link>http://business.time.com/2013/01/23/four-keys-to-decoding-the-world-economic-forum/</link>
		<comments>http://business.time.com/2013/01/23/four-keys-to-decoding-the-world-economic-forum/#comments</comments>
		<pubDate>Wed, 23 Jan 2013 08:00:00 +0000</pubDate>
		<dc:creator>Roya Wolverson</dc:creator>
				<category><![CDATA[Davos]]></category>
		<category><![CDATA[Economics]]></category>
		<category><![CDATA[Economics & Policy]]></category>
		<category><![CDATA[Economy]]></category>
		<category><![CDATA[Economy & Policy]]></category>
		<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=67428</guid>
		<description><![CDATA[As we speak, business leaders and heads of state are gathering in Davos, Switzerland, for their annual dose of brainstorming and cocktail partying. Bloggers have been placing bets on whether the U.S. or hobbled Europe will get more attention, and whether Wall Street darlings like JPMorgan Chase&#8217;s Jamie Dimon and Lloyd Blankfein of Goldman Sachs will have it easier this year than last. For readers following the event (and journalists covering it), Davos can be an overwhelming cacophony of competing themes and ideas. So here are four things that may help make sense of the weeklong media flurry ahead: You Aren&#8217;t Invited (and Neither Am I) In case you missed this lovely Davos decoder by Nick Paumgarten in the New Yorker last year, it&#8217;s a sharp assessment of what Davos is really like from the inside — or outside, depending on your status as a Davos attendee. Writes Paumgarten: Davos is an onion, a layer cake, a Russian doll. &#8216;Never feel that you’re out of the loop, because the loop is you,&#8217; Platon, the photographer, assured me, by which he meant that Davos is whatever experience you are having there. But could he be trusted? It was only his second Davos. Yossi Vardi, an Israeli tech investor and an 18-year Davos veteran, said, &#8216;What you see here, in the Congress Center, is just 20% of the action.&#8217; Over the next few days, there will be much chatter about the official remarks of headliners like Italian Prime Minister Mario Monti, Christine Lagarde of the International Monetary Fund and economic prophesying by the likes of Stephen Schwarzman of the Blackstone Group. But don&#8217;t expect all the earth-shattering ideas to come out of scheduled events (although I do expect some interesting fodder from Wednesday&#8217;s TIME panel featuring, among others, Walmart&#8217;s Mike Duke and Harvard&#8217;s Clayton Christensen). As the Financial Time’s Howard Davies points out, many earthshakers at Davos don&#8217;t really want to be there and do their best to say very little. &#8220;George Soros, who is here as usual, told me he hates it, but always attends,&#8221;<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=67428&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Davos</primary_category><primary_category_link>http://business.time.com/category/davos/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2013/01/wp_89b2c0679b0742debcbe353261d.jpg?w=240</featured_image>
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			<media:title type="html">Switzerland Davos Forum</media:title>
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			<media:title type="html">royaclare</media:title>
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		<title>Davos: Mario Draghi, The Man Who Would Save Europe</title>
		<link>http://business.time.com/2013/01/17/mario-draghi-the-man-who-would-save-europe/</link>
		<comments>http://business.time.com/2013/01/17/mario-draghi-the-man-who-would-save-europe/#comments</comments>
		<pubDate>Thu, 17 Jan 2013 18:19:23 +0000</pubDate>
		<dc:creator>Catherine Mayer and Michael Schuman</dc:creator>
				<category><![CDATA[Davos]]></category>
		<category><![CDATA[economy]]></category>
		<category><![CDATA[europe]]></category>
		<category><![CDATA[European Central Bank]]></category>
		<category><![CDATA[Mario Draghi]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=67208</guid>
		<description><![CDATA[There is one reality for bankers, another for the rest of us. That is the lesson most easily drawn from the Jan. 10 press conference of the European Central Bank (ECB). Just hours earlier, Greece had released its latest labor statistics: a steep overall jobless rate of 26.8% masking even worse news for young Greeks, with over half of them — an astonishing 56.6% — out of work. The human toll of the country&#8217;s struggle to avoid a ragged departure from the European single currency could scarcely be starker. In 2012 the 17-nation euro zone lost more than 2 million jobs as it grappled with its fierce debt crisis. Yet the mood at the ECB, and especially of its president Mario Draghi, appeared chipper, at least by the sobersided standards of the institution and the office holder. &#8220;We spoke a lot about contagion when things go poorly, but I believe there is a positive contagion when things go well,&#8221; he said. &#8220;And I think that&#8217;s also what is in play now. There is a positive contagion.&#8221; Superimpose Draghi&#8217;s optimistic picture on the harsh experiences of Greece and Spain, where unemployment is also hovering around 25%, and you get something akin to a drawing by Dutch graphic artist M.C. Escher: a mind-bending construct with stairs that lead nowhere and architecture ignoring the laws of physics and common sense. That is a pretty accurate portrait of the euro zone and the wider E.U. How you see it depends on your viewing angle, but from no perspective does it make complete sense. Small wonder that increasing numbers of people, especially in debt-blighted European countries, are coming to believe the only solution is to raze the crazy structures and start afresh. (SPECIAL: Mario Draghi &#8211; The World&#8217;s 100 Most Influential People) But that won&#8217;t happen if Draghi has anything to do with it. Last year the 65-year-old Italian economist found himself — to the slow-dawning appreciation of governments and bankers from Beijing to Washington — the most prominent and powerful defender of European integration.<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=67208&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Davos</primary_category><primary_category_link>http://business.time.com/category/davos/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2013/01/970_int_zdraghi_0128.jpg?w=240</featured_image>
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			<media:title type="html">Mario Draghi</media:title>
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			<media:title type="html">jb1271</media:title>
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		<title>Inside Google&#8217;s Terrible, Horrible, No Good, Very Bad Day</title>
		<link>http://business.time.com/2012/10/19/googles-terrible-horrible-no-good-very-bad-day/</link>
		<comments>http://business.time.com/2012/10/19/googles-terrible-horrible-no-good-very-bad-day/#comments</comments>
		<pubDate>Fri, 19 Oct 2012 12:00:29 +0000</pubDate>
		<dc:creator>Sam Gustin</dc:creator>
				<category><![CDATA[Apple]]></category>
		<category><![CDATA[Curious Capitalist]]></category>
		<category><![CDATA[Davos]]></category>
		<category><![CDATA[Information Technology]]></category>
		<category><![CDATA[Media]]></category>
		<category><![CDATA[Mobile]]></category>
		<category><![CDATA[Patent Wars]]></category>
		<category><![CDATA[Silicon Valley]]></category>
		<category><![CDATA[Tech Policy]]></category>
		<category><![CDATA[Technology & Media]]></category>
		<category><![CDATA[Telecom]]></category>
		<category><![CDATA[Donald Trump]]></category>
		<category><![CDATA[Google]]></category>
		<category><![CDATA[R.R. Donnelley]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=52219</guid>
		<description><![CDATA[Google stunned Wall Street Thursday by accidentally releasing its third-quarter earnings report four hours ahead of schedule. Even worse, the search giant's financial figures came in well below analyst expectations on both overall revenue and profit. Taken together, the botched earnings release and the soft numbers caused Google shares to fall off a cliff by 9% in mid-day trading, wiping out $20 billion in market value in under 20 minutes before trading in the stock was halted by the NASDAQ exchange for some two-and-a-half hours. Once trading resumed, Google shares inched higher. This debacle raises several questions.<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=52219&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>6</slash:comments>
	<primary_category>Wall Street &amp; Markets</primary_category><primary_category_link>http://business.time.com/category/wall-street-markets/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2012/10/144948912.jpg?w=240</featured_image>
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			<media:title type="html">Google&#039;s Larry Page Holds Media Event In New York City</media:title>
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			<media:title type="html">shgustin</media:title>
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		<title>Facebook Is Responsible for Creating 450,000 Jobs? Really?!</title>
		<link>http://business.time.com/2012/01/31/facebook-is-responsible-for-creating-450000-jobs-really/</link>
		<comments>http://business.time.com/2012/01/31/facebook-is-responsible-for-creating-450000-jobs-really/#comments</comments>
		<pubDate>Tue, 31 Jan 2012 10:00:45 +0000</pubDate>
		<dc:creator>Sam Gustin</dc:creator>
				<category><![CDATA[Davos]]></category>
		<category><![CDATA[Technology & Media]]></category>
		<category><![CDATA[facebook]]></category>
		<category><![CDATA[Facebook IPO]]></category>
		<category><![CDATA[Mark Zuckerberg]]></category>
		<category><![CDATA[Sheryl Sandberg]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=22775</guid>
		<description><![CDATA[As Facebook prepares to file its IPO documents with the U.S. Securities and Exchange Commission — as soon as Wednesday, according to recent reports — the company is trying to make the argument that it adds more to the economy than a convenient way to waste time at work. By touting the economic activity it has generated and the jobs it&#8217;s created, Facebook is also trying to pre-empt criticism that the primary winners from the IPO are insiders who stand to reap billions from the offering. Speaking at the World Economic Forum in Davos, Switzerland, on Sunday, Facebook chief operating officer Sheryl Sandberg touted the company&#8217;s job-creating power. &#8220;Facebook is barely seven years old and has 3,000 employees — and it has created more than 450,000 jobs in Europe and the U.S.,” she told a CNBC debate audience at the World Economic Forum. No doubt it was a pleasing message for the assembled titans of global finance and government, who are rightly focused on how to create jobs — and what technology companies can do to further that goal. Sandberg was referring to two recent studies purporting to show the economic impact of the social-networking giant, which now boasts more than 800 million users worldwide. Both attempt to describe the impact of the so-called app economy that has sprung up around the social-networking giant. The first study, by the University of Maryland&#8217;s Business School, found that the company had created as many as 235,644 U.S. jobs, injecting some $15.71 billion into the U.S. economy. The study found that 53,000 new jobs have been created in software companies that build apps for Facebook&#8217;s platform — fairly straightforward. The study&#8217;s next finding is a little more nebulous: as many as 182,000 people are employed in jobs &#8220;supported&#8221; by the app economy, which includes &#8220;businesses that supply app developers, and in sectors that reap the benefits of increased household spending by app developers and suppliers.&#8221; (More: No Thanks, Facebook: Poll Suggests Users Don’t Want Timeline) The second study, by research firm Deloitte, suggested<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=22775&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>35</slash:comments>
	<primary_category>Davos</primary_category><primary_category_link>http://business.time.com/category/davos/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2012/01/facebook.jpg?w=240</featured_image>
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			<media:title type="html">facebook</media:title>
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			<media:title type="html">shgustin</media:title>
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		<title>My Top Five Takeaways from Davos</title>
		<link>http://business.time.com/2012/01/30/my-top-five-takeaways-from-davos/</link>
		<comments>http://business.time.com/2012/01/30/my-top-five-takeaways-from-davos/#comments</comments>
		<pubDate>Mon, 30 Jan 2012 16:47:56 +0000</pubDate>
		<dc:creator>Michael Schuman</dc:creator>
				<category><![CDATA[Davos]]></category>
		<category><![CDATA[Economy]]></category>
		<category><![CDATA[Economy & Policy]]></category>
		<category><![CDATA[Europe]]></category>
		<category><![CDATA[corporations]]></category>
		<category><![CDATA[european debt]]></category>
		<category><![CDATA[eurozone crisis]]></category>
		<category><![CDATA[U.S. government]]></category>
		<category><![CDATA[uncertainty]]></category>
		<category><![CDATA[youth unemployment]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=22742</guid>
		<description><![CDATA[One of the challenges of covering the World Economic Forum at Davos as a journalist is making sense of the whole thing. The forum is days and days of wandering conversations and endless debates on just about every subject you can imagine. So as I tried to summarize what I learned from Davos, I came up with these five main takeaways: The U.S. is worse off than I thought. I had the misfortune of attending a dinner populated by senators, representatives and other political types from the U.S. The subject was supposed to be American identity. Instead, the pointless bickering of the Senate floor got transported to Davos. One after another, the politicians grandstanded on mundane issues like regulation and taxes. The other Davos events I attended were marked by a free exchange of ideas and open, respectful discussion. Not this one. The sole intelligent question of the evening (asked by an Egyptian businesswoman), about the gap between American ideals and American foreign policy in the Middle East, was dismissed with a brusque lecture from Congressman Darrell Issa. All in all, an embarrassing display that left me more concerned than ever that the U.S. government has become incapable of solving the nation’s problems. Most (but not all) of the politicians came off as narrow-minded, out-of-touch, and self-involved, unable or unwilling to see the U.S. within a changing global context, even though that context was forced into everyone’s face minute after minute at Davos. As one participant put it, “it’s like the world has passed them by.” If we don’t see U.S. politicians broaden their perspectives, that also could become true of America. (LIST: Eight Reasons Last Week Rocked for American Companies) CEOs are a bunch of sissies. Equally infuriating was the endless whining by big businessmen and financiers. The world environment is too uncertain, I heard again and again, for business leaders to invest their trillions in hoarded cash. Government, they said, had to do more to create certainty; only then they can invest and create jobs. Typical of the<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=22742&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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	<primary_category>Davos</primary_category><primary_category_link>http://business.time.com/category/davos/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2012/01/600_biz_wef_schuman_0130.jpg?w=240</featured_image>
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			<media:title type="html">600_biz_wef_schuman_0130</media:title>
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			<media:title type="html">michaeljschuman</media:title>
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		<title>Why the Eurozone Can&#8217;t Just Muddle Through</title>
		<link>http://business.time.com/2012/01/30/why-the-eurozone-cant-just-muddle-through/</link>
		<comments>http://business.time.com/2012/01/30/why-the-eurozone-cant-just-muddle-through/#comments</comments>
		<pubDate>Mon, 30 Jan 2012 16:30:55 +0000</pubDate>
		<dc:creator>Michael Sivy</dc:creator>
				<category><![CDATA[Davos]]></category>
		<category><![CDATA[Economy]]></category>
		<category><![CDATA[Economy & Policy]]></category>
		<category><![CDATA[Europe]]></category>
		<category><![CDATA[european debt]]></category>
		<category><![CDATA[eurozone crisis]]></category>
		<category><![CDATA[Greece]]></category>
		<category><![CDATA[Ireland]]></category>
		<category><![CDATA[Italy]]></category>
		<category><![CDATA[Sovereign Debt]]></category>
		<category><![CDATA[Spain]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=22713</guid>
		<description><![CDATA[A specter is haunting Europe – the specter of default. And all the powers of Old Europe have entered into an alliance to exorcise this specter. The result has been a kind of wishful Euro-optimism. As Time International Editor Jim Frederick reported on Friday, one of the key themes at the World Economic Forum in Davos last week was the growing belief that “the Eurozone may actually be starting to heal itself. The Eurozone crisis will continue to muddle along, but muddling may be enough.” Unfortunately, the facts argue for the opposite conclusion. It may be true that the European Union, taken as a whole, is in better financial shape than the U.S. But Europe is not a single entity. Financial burden sharing works in the U.S. largely because it is automatic. People in New York and San Francisco do not ordinarily get to vote on whether their taxes will go to pay for Social Security in Detroit or unemployment benefits in the Carolinas. Indeed, when financial crises do require overt political action, solidarity can suddenly disappear, as it did when President Ford denied assistance to New York City during the 1975 financial crisis, an event immortalized by the NY Daily News headline “Ford to City: Drop Dead.” We may never see the headline &#8220;Germany to Greece: Drop Dead,&#8221; but political realities limit the policy choices available to European leaders. And simply by gauging the success of the policies actually in force, one sees the slow but inevitable degeneration of the Eurozone. Here’s where things stand: (LIST: Eight Reasons Last Week Rocked for American Companies) Some heavily indebted countries have been stabilized, but the worst cases are not responding. The great success story of the past two months has been the ability of the European Central Bank to push interest rates in some countries down below the 7%-8% range that typically leads to default. In Italy 10-year bond yields have dropped from 7.25% in late November to a current 5.9%. In Spain, they have fallen from 6.7% to 5% over the<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=22713&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://business.time.com/2012/01/30/why-the-eurozone-cant-just-muddle-through/feed/</wfw:commentRss>
		<slash:comments>8</slash:comments>
	<primary_category>Davos</primary_category><primary_category_link>http://business.time.com/category/davos/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2012/01/euro.jpg?w=240</featured_image>
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			<media:title type="html">euro</media:title>
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			<media:title type="html">michaelsivy</media:title>
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		<title>My Brief (but Valuable) Visit with the 1% at Davos</title>
		<link>http://business.time.com/2012/01/30/my-brief-but-valuable-visit-with-the-1-at-davos/</link>
		<comments>http://business.time.com/2012/01/30/my-brief-but-valuable-visit-with-the-1-at-davos/#comments</comments>
		<pubDate>Mon, 30 Jan 2012 10:30:34 +0000</pubDate>
		<dc:creator>Michael Schuman</dc:creator>
				<category><![CDATA[Davos]]></category>
		<category><![CDATA[Christine Lagarde]]></category>
		<category><![CDATA[John Negroponte]]></category>
		<category><![CDATA[Muhammad Yunus]]></category>
		<category><![CDATA[Ron Kirk]]></category>
		<category><![CDATA[Tony Blair]]></category>
		<category><![CDATA[WEF]]></category>
		<category><![CDATA[World Economic Forum]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=22733</guid>
		<description><![CDATA[As my train pulled into the station at a snow-covered Davos a few days ago, I was prepared to be cynical. I&#8217;d had dinner the night before with an old friend, a former chairman of a major American company, who was usually a regular at Davos. But this year he stayed away, even though he was in nearby Zurich. The World Economic Forum, he told me, had lost its original spirit. It had become a forum for ritzy parties, not a place to achieve any good for the world. My friend figured his time was best spent elsewhere. That impression only solidified as soon as I left the train station. My wife and I decided to stop into a small, nondescript café for a quick lunch, expecting a coffee and simple sandwich. Not in Davos. The waiter recommended a $75 vegetable pizza. (We didn’t order it.) The pizza turned out to be symbolic of that showy and self-indulgent side of the Davos forum my friend had come to detest. Everyone spends too much time partying, or networking to get into parties, or scrambling for access to the most-prized dinners and sessions. I began to see Davos as no more than a playground for the high and mighty 1%. I can assure you, as a journalist, my annual income places me well below that 1%. The world of Davos seemed like an alternate universe. The global leaders of government and business chatted and joked like old high school buddies; I felt like I graduated from a different class. Yet I have to admit the experience is a bit of a rush. I met IMF chief Christine Lagarde wandering through the snow. Not watching where I was headed, I nearly banged into former British Prime Minister Tony Blair. I debated North Korean policy with John Negroponte, former U.S. representative to the U.N., had dinner with Nobel Peace Prize winner Muhammad Yunus and discussed trade with U.S. Trade Representative Ron Kirk. If I walked up to most of these people out on the<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=22733&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://business.time.com/2012/01/30/my-brief-but-valuable-visit-with-the-1-at-davos/feed/</wfw:commentRss>
		<slash:comments>4</slash:comments>
	<primary_category>Davos</primary_category><primary_category_link>http://business.time.com/category/davos/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2012/01/lagarde_0130.jpg?w=240</featured_image>
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			<media:title type="html">michaeljschuman</media:title>
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		<title>At Davos, Why Is No One Talking About the Poor?</title>
		<link>http://business.time.com/2012/01/28/at-davos-why-is-no-one-talking-about-the-poor/</link>
		<comments>http://business.time.com/2012/01/28/at-davos-why-is-no-one-talking-about-the-poor/#comments</comments>
		<pubDate>Sat, 28 Jan 2012 16:55:40 +0000</pubDate>
		<dc:creator>Roya Wolverson</dc:creator>
				<category><![CDATA[Davos]]></category>
		<category><![CDATA[globalization]]></category>
		<category><![CDATA[Poor]]></category>
		<category><![CDATA[WEP]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=22586</guid>
		<description><![CDATA[Unfair trade practices and poor working conditions in the developing world, issues that dominated the WEF agenda a decade ago, haven't been raised at all. Instead, the conversation is acutely focused on the plight of the Western worker.<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=22586&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://business.time.com/2012/01/28/at-davos-why-is-no-one-talking-about-the-poor/feed/</wfw:commentRss>
		<slash:comments>28</slash:comments>
	<primary_category>Davos</primary_category><primary_category_link>http://business.time.com/category/davos/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2012/01/wef.jpg?w=240</featured_image>
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			<media:title type="html">royaclare</media:title>
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		<title>Are Companies More Powerful Than Countries?</title>
		<link>http://business.time.com/2012/01/27/are-companies-more-powerful-than-countries/</link>
		<comments>http://business.time.com/2012/01/27/are-companies-more-powerful-than-countries/#comments</comments>
		<pubDate>Fri, 27 Jan 2012 21:02:41 +0000</pubDate>
		<dc:creator>Rana Foroohar</dc:creator>
				<category><![CDATA[Davos]]></category>
		<category><![CDATA[Economy & Policy]]></category>
		<category><![CDATA[Europe]]></category>
		<category><![CDATA[corporations]]></category>
		<category><![CDATA[economic growth]]></category>
		<category><![CDATA[eurozone crisis]]></category>
		<category><![CDATA[government]]></category>
		<category><![CDATA[jobs]]></category>
		<category><![CDATA[technology]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=22529</guid>
		<description><![CDATA[In 2008, after Lehman Brothers fell and the financial crisis and global recession began, the conventional wisdom was that we were entering an era in which government would take back power from business. In fact, just the opposite has happened. The high profile political figures here at Davos disappointed &#8212; Merkel was angry and depressed by turns, and Geithner was defensive. Europe remains a mess, the U.S. vulnerable, and emerging markets &#8212; the only bright spot in the last three years &#8212; are slowing down. Politicians have few solutions to the huge problems of the day &#8212; labor bifurcation, debt, and inequality. Markets want answers, but leaders can&#8217;t give them &#8212; in part because for them, nearly any sort of action poses political risk. Meanwhile, the top companies seem to exist in a world apart &#8212; they are booming, and their executives are prospering. If there is a meta theme to this year&#8217;s World Economic Forum in Davos, it is that the world&#8217;s largest companies are moving on and moving ahead of governments and countries that they perceive to be inept and anemic. They are flying above them, operating in a space that is increasingly disconnected from local concerns, and the problems of their home markets. And if the conversations here are any indication, they may soon take over much of what government itself does. (LIST: The Heavy Hitters of Davos 2012) The problem was nicely captured in this week&#8217;s New York Times piece on Apple, looking at why the iPhone is mostly made outside America. As one of the company&#8217;s executives put it, “We don&#8217;t have an obligation to solve America&#8217;s problems.” It&#8217;s a sentiment that was echoed on Time&#8217;s Board of Economists&#8217; panel, where business leaders blamed for not sharing the $2 trillion in wealth sitting on corporate balance sheets argued that they did create jobs and prosperity &#8212; just not in this country. It&#8217;s an argument that has more moral weight that you might think. You can argue that creating jobs in China and India, for example,<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=22529&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>23</slash:comments>
	<primary_category>Davos</primary_category><primary_category_link>http://business.time.com/category/davos/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2012/01/davos_3.jpg?w=240</featured_image>
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			<media:title type="html">davos_3</media:title>
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			<media:title type="html">ranaforoohar</media:title>
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		<title>Couldn&#8217;t Make Davos This Year? Here Are the 5 Things Everyone&#8217;s Talking About</title>
		<link>http://business.time.com/2012/01/27/five-major-themes-of-this-years-davos/</link>
		<comments>http://business.time.com/2012/01/27/five-major-themes-of-this-years-davos/#comments</comments>
		<pubDate>Fri, 27 Jan 2012 18:15:47 +0000</pubDate>
		<dc:creator>Jim Frederick</dc:creator>
				<category><![CDATA[Davos]]></category>
		<category><![CDATA[Economy]]></category>
		<category><![CDATA[Economy & Policy]]></category>
		<category><![CDATA[Europe]]></category>
		<category><![CDATA[capitalism]]></category>
		<category><![CDATA[eure crisis]]></category>
		<category><![CDATA[europe]]></category>
		<category><![CDATA[european debt]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=22504</guid>
		<description><![CDATA[  The topics and tropes fall faster than snowflakes here in Davos, where several thousand of the world’s leading business people, politicians and policy makers gather once a year for an annual think-fest. And with literally hundreds of panels, debates, interviews, workshops and symposia taking place, it would be impossible to capture all of the ideas competing for attendees’ attention. <img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=22504&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>10</slash:comments>
	<primary_category>Davos</primary_category><primary_category_link>http://business.time.com/category/davos/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2012/01/davos_3.jpg?w=240</featured_image>
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			<media:title type="html">jimfrederick</media:title>
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		<title>Why Manufacturing Can&#8217;t Solve The Jobs Problem</title>
		<link>http://business.time.com/2012/01/27/why-manufacturing-cant-solve-the-jobs-problem/</link>
		<comments>http://business.time.com/2012/01/27/why-manufacturing-cant-solve-the-jobs-problem/#comments</comments>
		<pubDate>Fri, 27 Jan 2012 13:00:29 +0000</pubDate>
		<dc:creator>Roya Wolverson</dc:creator>
				<category><![CDATA[Davos]]></category>
		<category><![CDATA[Economy]]></category>
		<category><![CDATA[Economy & Policy]]></category>
		<category><![CDATA[Jobs]]></category>
		<category><![CDATA[jobs]]></category>
		<category><![CDATA[Obama]]></category>
		<category><![CDATA[State of the Union]]></category>
		<category><![CDATA[trade barrier]]></category>
		<category><![CDATA[unemployment]]></category>
		<category><![CDATA[World Economic Forum]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=22479</guid>
		<description><![CDATA[Here in snowy Davos, the topic of job creation has been about as popular as the passed canapés and free champagne.  Not surprisingly, President Obama’s latest jobs proposals &#8212; a combination of taxing outsourcing corporations and reviving U.S. manufacturing &#8212; haven’t been as popular. It’s not hard to see why. Among other things, Obama’s State of the Union speech Tuesday drove home the idea that U.S. industries need more protection. “Over a thousand Americans are working today because we stopped a surge in Chinese tires,” he said in his speech. That’s all fine and good if your goal is to hold on to U.S. manufacturing jobs. But it’s not going to solve the country’s overall unemployment problem. And in the end, it may cost the American consumer more than those jobs are worth. (MORE: Smack Down at Davos: Merkel and Soros Spar on the Euro’s Future) For one thing, raising trade barriers on imported goods like tires makes tire-buying more expensive for American consumers, which, as Matthew Yglesias points out, only undermines those consumers’ ability to spend elsewhere. It also provokes countries like China to raise trade barriers on U.S. goods, which makes the job of increasing U.S. exports and export-related jobs even harder. Even if protections did save some manufacturing jobs, they wouldn&#8217;t be enough to move the needle on unemployment. It&#8217;s worth remembering that only 11% of U.S. jobs come from manufacturing, thanks to globalization, which has taken jobs abroad to lower-wage countries, and technological advances that have increased worker productivity. And that percentage has been declining steadily for several decades. Losing jobs to globalization isn’t just an issue for the U.S. The trend has long been remaking workforces across the world. In China, higher wage demands have led many global companies to relocate their factories to countries with even cheaper labor, such as Vietnam and Malaysia. As economist Peter Diamond told me today, we have to get used to the fact that “globalization is a reality which isn’t going to stop.” And since we can’t reverse that process, the biggest<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=22479&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://business.time.com/2012/01/27/why-manufacturing-cant-solve-the-jobs-problem/feed/</wfw:commentRss>
		<slash:comments>20</slash:comments>
	<primary_category>Davos</primary_category><primary_category_link>http://business.time.com/category/davos/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2012/01/600_davos.jpg?w=240</featured_image>
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			<media:title type="html">royaclare</media:title>
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		<title>Huffington: Financial Crisis or Empathy Crisis?</title>
		<link>http://business.time.com/2012/01/26/huffington-financial-crisis-or-empathy-crisis/</link>
		<comments>http://business.time.com/2012/01/26/huffington-financial-crisis-or-empathy-crisis/#comments</comments>
		<pubDate>Thu, 26 Jan 2012 11:35:10 +0000</pubDate>
		<dc:creator>Rana Foroohar</dc:creator>
				<category><![CDATA[Curious Capitalist]]></category>
		<category><![CDATA[Davos]]></category>
		<category><![CDATA[Arianna Huffington]]></category>
		<category><![CDATA[Assistant Managing Editor]]></category>
		<category><![CDATA[business]]></category>
		<category><![CDATA[development]]></category>
		<category><![CDATA[World Economic Forum]]></category>

		<guid isPermaLink="false">http://business.time.com/?p=22401</guid>
		<description><![CDATA[Last night at a cocktail party I attended in Davos, the queen of new media – Arianna Huffington – did a surprising thing. She asked people to unplug from their Blackberries and—gasp—slow down.<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=business.time.com&#038;blog=31173800&#038;post=22401&#038;subd=timebusinessblog&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>1</slash:comments>
	<primary_category>Davos</primary_category><primary_category_link>http://business.time.com/category/davos/</primary_category_link><featured_image>http://timebusinessblog.files.wordpress.com/2012/01/huffington_01251.jpg?w=240</featured_image>
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			<media:title type="html">ranaforoohar</media:title>
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