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Despite all capitalists, they were cynical about the way capitalism is moving the economy in its present form which has badly shaken and eroded their richness and capitals.
"Capitalism, in its current form, no
longer fits the world around us. We have failed to learn the lessons
from the financial crisis of 2009. A global transformation is urgently
needed and it must start with reinstating a global sense of social
responsibility," lamented Klaus Schwab, founder and executive chairman of
the World Economic Forum in sadistic way.
"We are worried about the situation specially in Europe and we will continue to worry whether the Eurozone crisis will ever be
contained," said Alejandro Ramirez, chief executive officer of the
Mexican movie theatre chain Cinepolis. "I hope the European Union
leaders will take measures to contain the crisis."
While listing other pressing problems
such as food security and poverty, Ramirez, co-chair of the forum, said
politicians must take action swiftly.
Yasuchika Hasegawa, president of Takeda
Pharmaceutical Co Ltd, said the world is facing many transformations.
"Economic growth shifting from mature economies to emerging economies is
the most dominating transformation of the world," he said.
"We need to change our development models amid the global shifts," said Hasegawa.
Paul Polman, chief executive officer of
Unilever PLC, agreed that urgent changes to the model for global
development are needed. "We need not only growth but also sustainable
growth," he told.
Polman said changes must be made to entire supply chains. "We need to boost green and sustainable consumption."
Gao Jifan, chairman of the Chinese solar
panel maker Trina Solar Ltd, also said sustainable development and
energy security are the top challenges facing the world as sources of
fossil fuel decline.
"The world should unite to face the
challenges. But some Western countries have erected barriers, instead of
cooperating to find the solutions," Gao said, whose company is a
leading solar equipment provider to Europe and the United States.
According to a news release from the
World Economic Forum, the theme of this year's meeting - The Great
Transformation: Shaping New Models - reflects the need for a profound
overhaul in the face of a fraying global system and lingering economic
malaise.
It is construed that they lamented to change economy model which suit them to build their personal capital but failed to suggest which model they think better than capitalism which appears to be failed and led to countries into debt trap.
Which means you raise more and more debts so that MNC could sustain their production but they forgot that the way they are replacing the labour with machinery is main cause of fall of capitalism because a particular country has come under heavy debts while the MNC have cash surplus and machinery reduced the sustain consumption. More hands were work off. No job; Job loss-No purchasing power.
The economy model of every countries have failed due to tax evasion, big scam, by hawalla transaction, under or over invoicing, more money supply supply and less production.
Looking ahead to 2012, many of these problems remain centre stage. Europe has yet to extricate it self from a deep, if not existential, fiscal crisis. Ahead of the presidential election, the USA may have to face budgetary problems of its. Zero interest rates and shy touch over head debt of 16 Trillion has handcuffed the USA economists to take any fruitful decision in right direction.
Across the developing world, authorities must tread a fine line between persisting with anti-inflation policies long enough to contain price pressures and moving fast enough towards pro-growth policies to prevent an economic slump. There are therefore numerous dangers in the months ahead
Today Video to Watch : Amazing India
It is construed that they lamented to change economy model which suit them to build their personal capital but failed to suggest which model they think better than capitalism which appears to be failed and led to countries into debt trap.
Which means you raise more and more debts so that MNC could sustain their production but they forgot that the way they are replacing the labour with machinery is main cause of fall of capitalism because a particular country has come under heavy debts while the MNC have cash surplus and machinery reduced the sustain consumption. More hands were work off. No job; Job loss-No purchasing power.
The economy model of every countries have failed due to tax evasion, big scam, by hawalla transaction, under or over invoicing, more money supply supply and less production.
Looking ahead to 2012, many of these problems remain centre stage. Europe has yet to extricate it self from a deep, if not existential, fiscal crisis. Ahead of the presidential election, the USA may have to face budgetary problems of its. Zero interest rates and shy touch over head debt of 16 Trillion has handcuffed the USA economists to take any fruitful decision in right direction.
Across the developing world, authorities must tread a fine line between persisting with anti-inflation policies long enough to contain price pressures and moving fast enough towards pro-growth policies to prevent an economic slump. There are therefore numerous dangers in the months ahead
Today Video to Watch : Amazing India
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