Davos looks ahead to a year of trading dangerously

DAVOS, Switzerland, Jan 26, 2008 (AFP) – World business leaders and political powerbrokers wrapped up their annual gathering in Davos on Saturday by revisiting the issue of global economic uncertainty that clouded this year’s event. “I would like to turn our moral compact into legally binding contracts. Then my advice to the developing world? Get a good lawyer and haul our asses into court,” the U2 frontman said. International Monetary Fund head Dominique Strauss-Kahn was to lead a round-table discussion on the economic outlook for 2008 amid talk of a US recession and fears of its potential impact on the rest of the world.

The current shaky situation was to be addressed in a keynote speech by Japanese Prime Minister Yasuo Fukuda, who will chair the annual Group of Eight (G8) summit in July.

The premier told reporters before his departure for Switzerland that he would call for a collective response to the recent turmoil.

“The United States may seem to be the most responsible for the problem but the global stockmarket plunge cannot be dealt with by a single country. It is important for all major countries to act at the same time,” he said.
Noting that the Davos gathering “often helps set the tone for world opinion,” Fuku