Wednesday, January 28, 2009

Davos starts in very gloomy mood


A gloomy economic outlook dominates discussions as global political leaders and business people gather for the annual World Economic Forum in Davos.

Economists are warning that global recession and trade protectionism will be dire for developing countries.

A poll of business leaders suggests any recovery could take three years.

Chinese Premier Wen Jiabao and Russian PM Vladimir Putin are to speak on the first day of the summit, which is themed "shaping the post-crisis world".

Klaus Schwab, the founder of the World Economic Forum, has warned the crisis is nowhere near over yet.

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