This was my ninth visit to the World Economic Forum – the global cocktail party/speechathon that brings together a unique mix of CEOs, government leaders, artists, scientists, philanthropists, regulators, and non-profits in Davos Switzerland. Or, as one reporter noted, it was a meeting of the people who have screwed up the world in the last two years.
Here are my quick personal observations. Please excuse the length of this post -- the volume of interesting facts overwhelmed my editing sensibilities.
1) Compared with the gloom of last year, members were far more optimistic and positive about the economy. Most executives I spoke with said that their business began to turn in Q3 and Q4 of 2009 and that their prospects for 2010 were brightening. That said, economists continually highlighted the fragility of the recovery. The head of the IMF said that the discontinuation of stimulus packages will cause the recovery to sputter. He also said that it may take between five and seven years for some countries to return to “normalcy,” whatever that is.