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World Economic Forum opens in Davos with focus on financial crisis

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Source: CCTV.com | 01-28-2009 14:17

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The annual meeting of the World Economic Forum opens on Wednesday in Davos. The theme this year is "Shaping the Post-Crisis World". The event is expected to be a more somber affair than in years past, with fewer lavish parties and corporate jaunts.

As the world's elite arrive for their annual Swiss pilgrimage to the World Economic Forum in Davos they are tightening their belts.

This year, the topics of conversation in this tiny resort village are crisis, job cuts, and austerity.

World Economic Forum founder Klaus Schwab gestures while speaking with the Associated Press in the main hall of the World Economic Forum in Davos, Switzerland on Tuesday Jan. 27, 2009. Business participants will spend the week searching for solutions to the financial crisis with some 40 world leaders, but without the top finance officials of the new U.S. administration who are occupied by the crisis or by the confirmation process at home.(AP Photo/Virginia Mayo)
World Economic Forum founder Klaus Schwab gestures while 
speaking with the Associated Press in the main hall of the 
World Economic Forum in Davos, Switzerland on Tuesday 
Jan. 27, 2009.(AP Photo/Virginia Mayo)

Klaus Schwab, Founder World Economic Forum, said, "I think people have become much more demanding. They come here, they spend five days. It's a special effort at a very critical moment of the companies, of the nations' history."

Should anyone want to vent their frustration at the politicians, CEOs and central bankers gathered here they'll have a tough time. Security is tighter than ever, and protestors are being kept well away.

The head of the World Economic Forum has made it clear that this year is like no other.

He called for unity among companies and governments trying to steer a path clear of the global financial crisis.