The experience has some lessons for India and the World Economic Forum. They should consider further innovation and restructuring to foster meaningful partnership, and to facilitate ‘networking’ and future engagement which remain the essence of Davos.

There were several interesting sessions. These included ‘The Rise of Asia and the 21st Century Silk Road’; ‘Democracy and Global Security’; ‘Climate Change’; ‘Infrastructure Budgeting’; ‘Does Federalisation Need Refixing?’; ‘Global Demography’; ‘China and Japan’; ‘Energy Security’; and ‘Globalisation—The end or beginning’. The two sessions on India related to the latest developments in the subcontinent and curiously enough on ‘India As a Fair Weather Friend’.

On the future of Asia there seems general agreement on the opportunities and challenges. Asia was seen to have emerged as a global economic power with a consumer class of at least 700 million, rising by about 50-60 million a year, representing a shift in the role of the public sector, but also to have leadership shortage with limited resources in an era of unlimited demand, with rising intra-Asian trade and integration and the re-emergence of the Silk Road. In the business arena, it was acknowledged that there were more global champions from Asia than anywhere else and mergers and acquisitions along with industry consolidation were proceeding at an aggressive pace while innovative business models were enhancing productivity.

No doubt the ageing population of large parts of Asia, particularly China, the role of managing boards in family-owned businesses, water issues, growing environmental concerns and energy shortages remained critical challenges. At a macro level, geo-political risks, the growing threat of terrorism, the future of North Korea, financial volatility and now the added one of growing Japan-China tension needed close attention, it was felt.

... contd.