No One Will Emerge As Winner In Trade War: Chinese President Xi Jinping

The international financial crisis, he said, was not an inevitable outcome of globalization, but the consequence of the excessive chase of profit by global financial institutions and a "grave failure of regulation".

Chinese President Xi Jinping offered a vigorous defence of globalisation and free trade in a speech at the World Economic Forum in Davos on Tuesday, which underscored Beijing's desire to play a greater global role as the United States turns inward.

Stating that she was shooting for a morning programme, the journalist further asked Shakira whether she sings in the morning and went on to request her to sing a few lines.

Lack of access to global markets is currently their main impediment to growth.

He also said that philanthropy helps companies to be viewed favourably by the consumers.

The 47th edition of the yearly talkfest of rich and powerful began with a welcome address by WEF Founder Klaus Schwab.

Donald Trump's election to the White House had "decisively repudiated the idea of American exceptionalism", says Ian Bremmer of the Eurasia Group.

The WEF Inclusive development report has India lagging behind China, and even Pakistan. With India ranked at 60 out of 79 developing economies, China at 15 and Pakistan at 52.

The survey found 38 percent were very confident they could increase revenue growth in the next year, up from 35 percent at the same time last year, which was a six-year low.

World Economic Forum's Annual Meeting began in Davos on Monday evening with call for governments to be 'responsive and responsible' in the backdrop of falling trust in all kinds of institutions and various studies painting a dismal picture for India including on inclusive development, rich-poor gap and talent competitiveness.

Among the 28 nations, India has emerged as the most trusted nation in terms of institutions with 72 per cent of the respondents from general population feeling so.

India has been ranked 60th among 79 developing economies, below neighbouring China and Pakistan, in the inclusive development index, according to a WEF report.

The top 10 global cities in terms of talent competitiveness include Zurich, Helsinki, San Francisco, Gothenburg, Madrid, Paris, Los Angeles, Eindhoven and Dublin.

In the past 46 years, only once WEF has held its annual meeting outside Davos when in 2002 it decided to shift the venue to New York to show solidarity with that city and the American public after the 9/11 terrorist attacks.

The federal government's share amounts to 3/8 of overall costs of security at the WEF. However, due to cost ceiling, this sum is limited to a maximum of 3 million Swiss francs per annum.

The report, released on Monday by the Business and Sustainable Development Commission, said pressure on business to become a "responsible social actor" was likely to grow.

Many business leaders and lawmakers will participate in the World Economic Forum 2017 meet, running from January 17-20, in the Swiss Alpine resort of Davos.

Just eight individuals, all men, own as much wealth as the poorest half of the world's population, Oxfam said on Monday in a report calling for action to curtail rewards for those at the top.

Activist Swami Agnivesh, President Emeritus of World Council of Arya Samaj, will also join other spiritual leaders for a multi-faith candle lighting ceremony to reflect upon hope for humanity, as part of the five-day WEF (World Economic Forum) Annual Meeting beginning.

Johann Schneider-Ammann will meet with the trade and industry ministers of India and two other countries, a statement said.