A rare note of optimism at Davos this year comes from the trade ministers, who are gathering on Saturday for the first time since the World Trade Organization (WTO) closed the lid on 14 years of increasingly toxic stalemate.

The United States is not looking for conflict with China but steps it is taking in the South China Sea are self-isolating and prompting other countries to seek help from Washington, US Defense Secretary Ashton Carter said on Friday.

Colourful lions adorn a salon on the main street of Davos, inviting visiting business leaders to "Make in India".