Davos 2012 Preview: Jock Mendoza-Wilson

In just over a week it will be time to head for the hills, or should I say the Swiss mountains, for Davos. A year ago I wrote a similar preview piece for SCM’s corporate blog and in the second paragraph highlighted the need to avoid a double dip recession. Twelve months on, if you take a quick read through the Davos programme, overlay the current economic news from UK, Germany, EU and Asia and add a pinch of Euro zone crisis,  then we seem to be in a recession-themed ground hog day.  But of course, we have moved on, it’s just the headlines which remain the same.

This time round it’s the sovereign debt crisis which is driving the economic fears of businesses and governments. Developed economies, particularly those of Europe and North America, are experiencing economic transformation through the deleveraging of their economies, including the much needed but disruptive and painful, reduction of government expenditure and debt, as well as  the continued restructuring of the banking sector, while emerging markets are dealing with the consequences of rapid economic growth and social change. Concern for the mid-range economic future also tends to over shadow other issues on the agenda including a low carbon future, and the need to feed educate and provide jobs for our planet’s ever growing population.

So the theme chosen for this year’s meeting “The Great Transformation: Shaping New Models” really does sum up the state of flux and change we are in and the need for realisation that the past models may well not be a reliable guide for future success. The key to developing the robust solutions needed to the challenges we face is to recognise our increasing inter-connectedness, both physical, virtual and economic ­- a fact that I am sure will be central to the Davos discussions next week.

What is clear is that problem solving in a globalised world requires a greater level of international cooperation and the working together in partnership of different groups in society to understand the role each plays, and to find shared solutions and pathways forward.

While it may feel a little like ground hog day, nothing in fact stays the same. The role of the Annual Meeting in particular and the Forum’s power as an institution is to help stakeholders in economy and society to recognise the trends and work collectively, in partnership, to tackle the big issues we face.

Jock Mendoza-Wilson is the Director of International and Investor Relations at System Capital Management which is a Strategic Partner of the World Economic Forum.