Well, Davos is over. But I have thoroughly enjoyed watching the webcasts and I have learned a lot about social responsibility, corporate creativity and global economics. Here are some memorable quotes:
“Where the climate crisis is concerned, in addition to changing the light bulbs, it is far more important to change the laws.”
–Al Gore, Vice-President of the United States of America (1993-2001); Nobel Laureate 2007
“In the Arab world, corporate social responsibility is not just a concept but it is not yet the culture.”
–H.M. Queen Rania Al Abdullah, of the Hashemite Kingdom of Jordan
“The sub prime crisis could have been largely avoided if the regulators had done their job…what is unique about this crisis is it is a clear case of failure of regulations and failure of regulators.”
–Palaniappan Chidambaram, Minister of Finance of India
“Terrorism has nothing to do with religion because if it had anything to do with religion it would not go to kill people in a mosque.”
–Hamid Karzai, President of Afghanistan
Quotes from the BBC Davos Blog:
Today’s Davos quote of the day comes courtesy of David Rubenstein, co-founder of private equity giant The Carlyle Group, which manages an investment pool worth $75bn.
“We can’t really call economies like India or China ’emerging’ anymore, and lump them in with countries like Chad. I don’t know what to call them, but emerging doesn’t fit.
“Anyway, what are Western economies right now? Submerging?”
Cheng Siwei, vice chairman of the Standing Committee of China’s National People’s Congress, and thus a communist (well, in a Chinese kind of way).In one of the many discussions about the state of the global economy, several Americans called on Chinese consumers to spend more, to make up for the downturn in the United States. After all, China’s savings rate stands at 50%, the US savings rate is in single digits.
Persuading the Chinese to flock to the shops would be tricky, said Mr Cheng: “The Chinese save today’s spending for tomorrow, and the Americans spend tomorrow’s saving today.”