Key finance talks in Davos a pointer to world economy

Wednesday, 22 January 2014  Features

​​"It is crucial that this year the World Economic Forum makes a practical difference towards building a stronger global economy, and keeps an eye out to ensure financial globalisation tickles down​"

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Some of the world's most important leaders and financiers have gathered in Davos this week for the World Economic Forum. A senior academic from UNSW's Australian School of Business can put the talks into context, and explain their relevance for Australia.

Professor Fariborz Moshirian​, Director of the Institute of Global Finance said "among the participants at this year's event are Tony Abbott, British Prime Minister David Cameron, Japanese Prime Minister Shinzo Abe and Nigeria's Goodluck Jonathan. This is a major world gathering."

The 2,500 participants include the heads of all major international organisations and more than half the chief executives of the 1,000 largest companies, including including Wesfarmers CEO Richard Goyder, Westpac chief Gail Kelly.

Professor Fariborz Moshirian said "there are some key issues for Davos this year. Is the US recovering ongoing? And is the Chinese slowdown a concern? And we still haven't properly established a way out of the European debt issues. Ireland may no longer be a basket case, but Greece is still on its knees."

He said that one issue that is now highlighted at Davos is the widening of gap between rich and poor both within the OCED and between developed and developing countries. "It is crucial that this year the World Economic Forum makes a practical difference towards building a stronger global economy, and keeps an eye out to ensure financial globalisation tickles down. The vast number of world leaders who attend Davos helps with building a consensus on these issues."

For further comment call Professor Fariborz Moshirian on 02 9385 5859 or 0425 380 626 or f.moshirian@unsw.edu.au

Media contact: Julian Lorkin: 02 9385 9887

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