Davos opens with power shift to South, East in focus


DAVOS (SWITZERLAND) – The annual meeting of world elites at the Swiss ski resort of Davos opened Wednesday with executives highlighting a power shift from the advanced world to emerging market as recovery takes hold.
Russian President Dmitry Medvedev confirmed that he would make his opening speech at the forum, despite cancelling most other Davos appointments after a deadly suicide bomb attack on a Moscow airport. Medvedev said in a newspaper interview that he would participate in the forum because it was a very important global venue to present Russia’s position.
Medvedev had been expected to lead the country’s pitch to investors and speak on a number of topics including Russia’s plans to build world-class ski resorts in its troubled North Caucasus region.