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| Leaders gather for Davos summit | Leaders gather for Davos summit |
| (20 minutes later) | |
| Global political leaders and business people are gathering for the annual World Economic Forum, which has started in the Swiss ski resort of Davos. | Global political leaders and business people are gathering for the annual World Economic Forum, which has started in the Swiss ski resort of Davos. |
| Chinese Premier Wen Jiabao and Russian PM Vladimir Putin are to speak on the first day of the summit, which is themed "shaping the post-crisis world". | |
| But Klaus Schwab, the founder of the World Economic Forum, has warned the crisis is nowhere near over yet. | But Klaus Schwab, the founder of the World Economic Forum, has warned the crisis is nowhere near over yet. |
| A new poll shows business leaders think the recovery will take three years. | A new poll shows business leaders think the recovery will take three years. |
| Politicians rule | Politicians rule |
| We have to face up to the fact that the recovery, when it comes, later this year or early next year, is going to be anaemic Stephen Roach, chairman, Morgan Stanley Asia Davos gets down to businessGloomy bosses fear slow recovery Some 2,500 guests, including senior executives from some of the world's biggest banks as well as 40 heads of state and government - a record number - will join discussions on the economic crisis, poverty, energy, climate change and free trade. | We have to face up to the fact that the recovery, when it comes, later this year or early next year, is going to be anaemic Stephen Roach, chairman, Morgan Stanley Asia Davos gets down to businessGloomy bosses fear slow recovery Some 2,500 guests, including senior executives from some of the world's biggest banks as well as 40 heads of state and government - a record number - will join discussions on the economic crisis, poverty, energy, climate change and free trade. |
| While the annual event in the Swiss mountain village of Davos keeps attracting many of the world's most powerful people, the mood has changed dramatically. | While the annual event in the Swiss mountain village of Davos keeps attracting many of the world's most powerful people, the mood has changed dramatically. |
| Some companies have been wiped out by the world's continuing financial crisis, while others have been rescued by governments or nationalised. | Some companies have been wiped out by the world's continuing financial crisis, while others have been rescued by governments or nationalised. |
| As a result participants agree that this year it will not be bankers dominating discussions; instead politicians will set the agenda. | As a result participants agree that this year it will not be bankers dominating discussions; instead politicians will set the agenda. |
| However, they will focus on economic issues as well. | However, they will focus on economic issues as well. |
| Indeed a new survey conducted by PricewaterhouseCoopers suggests that business confidence among top bosses around the world has plummeted in recent months. | Indeed a new survey conducted by PricewaterhouseCoopers suggests that business confidence among top bosses around the world has plummeted in recent months. |
| "We have to face up to the fact that the recovery, when it comes, later this year or early next year, is going to be anaemic," said Stephen Roach, Morgan Stanley's Asia chairman. | "We have to face up to the fact that the recovery, when it comes, later this year or early next year, is going to be anaemic," said Stephen Roach, Morgan Stanley's Asia chairman. |