Protectionism

It is becoming something of a cliche here to say the mood at this year’s Davos is so depressing that it is feeding the recession, rather than building a consensus on how we escape from our predicament. CEOs who arrived a little anxious about their prospects are now very worried. Those who arrived worried are now deeply depressed. Those who arrived depressed may not go home at all.

I began to wonder if this Spenglerian gloom was a financial sector phenomenon. Two invitations to talk to the automotive sector, and the Tourism and Travel group, gave me an opportunity to test that hypothesis. Sadly, it quickly folded.

No prizes for guessing what is worrying the 2,500-odd delegates due to arrive in Davos this week (albeit probably not too visibly in their corporate jets this year). Within minutes of the World Economic Forum permitting delegates to sign up for events at the meeting, which starts on Wednesday, some sessions were hugely oversubscribed.

A worthy debate on how corporations can affirm the “community” (featuring Jamie Dimon, CEO of JPMorgan Chase) was not one of these; yesterday that still had plenty of space.

Davos blog 2009

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