February 03, 2010

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Davos - the Biggest News! Improve the State of the World: Rethink, Redesign, Rebuild”—that was the mantra chosen as the theme for this year’s annual World Economic Forum at Davos, Switzerland, January 27 to 31. Over those five days, business leaders and politicians from all over the world came together to discuss ideas to regenerate a global economic system that is still teetering on collapse. If anyone had high hopes for consensus on a breakthrough—a way forward to a brighter global economic future—their hopes would have been clearly dashed. For most journalists, there was little of note to report from Davos. Yet there was one BIG news item at Davos—startling news, largely ignored by the press! “Germany’s government launched an initiative to strengthen its military industry during the World Economic Forum this weekend in the latest sign that the country has become emboldened to fight for its international interests” (Dow Jones, January 31). Germany’s defense minister, Karl-Theodor zu Guttenberg, used Davos as the occasion to announce that Germany is commencing an aggressive development of its defense industry! “A group of top executives from German blue chips met with federal ministers, talking military business in Davos. German Defense Minister Karl-Theodor Freiherr zu Guttenberg brought up the ‘necessary interplay of defense policy and Germany’s economic interests,’ at a breakfast meeting with a group of top managers from utilities, chemical groups and other companies, his spokesman said” (ibid.).

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