GENEVA, Jan. 18 (Xinhua) -- In the context of failing to learn
lessons from the crisis of 2009, capitalism, in its current form, no
longer fits the world around us, said Klaus Schwab, founder and
executive chairman of the World Economic Forum (WEF) here on Wednesday.
At a press conference held a week before the WEF Annul Meeting,
Schwab said the current system of capitalism had failed to address the
problems and risks facing the world today, and subsequently, could lead
the world to "dystopia," characterized by downward global economy,
social disruption, protectionism, nationalism and populism.
"We must recognize that solving problems in the context of outdated
and crumbling models will only dig us deeper into the hole," Schwab
said, calling for a reform of the old model to keep up with the
transformation the world has been undergoing.
"The old model was Capitalism, the new model is Talentism," he said,
noting that the new model will center on human talent to encourage
creativity, entrepreneurship and innovation-driven economic development
and social progress.
He also envisaged a new leadership model based on collaborative power
or social power rather than the conception of hard power and soft power
as was depicted in the "old model."
In coherence with Schwab's view, the theme of this year's WEF Annual
Meeting was announced to be "The Great Transformation: Shaping New
Models."
Under this theme, there will be four sub-themes for discussion:
Growth and Employment Models; Leadership and Innovation Models;
Sustainability and Resource Models; and Social and Technological Models.
According to WEF, more than 2,600 participants have confirmed to
participate the 42nd WEF Annual Meeting which is schedule on Jan. 25 to
29, 2011.
In total, close to 40 heads of state or government will participate,
along with over 1,600 business leaders from the Forum's 1,000 Member
companies, as well as social entrepreneurs, young global leaders and
representatives from civil society, media, academia and the arts.
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