Nazarbayev departs for Switzerland to attend Davos

    The President of Kazakhstan, Nursultan Nazarbayev, departed to Switzerland to attend the Davos World Economic Forum, Kazakhstan Today reports citing a press release fr om the president.
    "This year the focus of the World Economic Forum in Davos will be on governments, rather than banks and hedge funds, the press release added."
    According to the Wall Street Journal, this is connected with the fact that only taxpayers have money and the influence sufficient to affect the global financial crisis.
    "Perhaps this is the first Davos wh ere capitalism will be widely recognized as a failed model," Professor of French Business School, Insead, Ethane Capstein said.
    The World Economic Forum will begin on Tuesday evening and will be attended by 40 heads of states - far more than last year.
    According to the Wall Street Journal, two main issues that will be discussed: How much will the global recession worsen? And, how to achieve the growth needed to overcome it?
    "Meanwhile, the IMF is likely to reduce its forecasts for global growth to below 1% because growth in China has been below expectations.
    The US administration is sending only one representative to the forum White House Senior Advisor and Assistant to the President for Intergovernmental Relations and Public Liaison, Valerie Jarrett.
    For the first time in history, a Chinese representative - the Prime Minister, Wen Jiabao, will come to Davos.
    He, along with Russian Prime Minister Vladimir Putin and the leadership of Japan, Germany, and Britain, will make a speech on Wednesday, according to Kazakhstan Today