Terrorism dominates discussions on day third day of World Economic Forum

World Today

World leaders shifted the focus of discussion at the World Economic Forum from economics, to terrorism on the third day of the meeting in Davos, Switzerland. CCTV’s Jack Barton reported this story from Davos.

Terrorism dominates discussions on day third day of World Economic Forum

World leaders shifted the focus of discussion at the World Economic Forum from economics, to terrorism on the third day of the meeting in Davos, Switzerland. CCTV's Jack Barton reported this story from Davos.

French President Francois Hollande on Friday called on business leaders to help fight terrorism saying there could be no prosperity without security.

“I call on the financial system to ensure that the sources of financing for terrorists are dried up, to put an end to tax havens, the fight against money laundering, it is our common interest. Don’t let a beast come back to bite you,” Hollande said in Davos.

Hollande said about 10,000 people of non-Middle Eastern origins are currently fighting overseas and pointed to the recent Paris terror attacks as an example of what radicalized and battle-hardened citizens can do when they return home.

U.S. Secretary of State John Kerry, also at Davos, called on world governments to unite against violent extremists.

“There is no room for sectarian division. There is no room for anti-Semitism or Islamophobia. No way forward except to demonstrate to the terrorists that every time they try to divide us,” Kerry said. “They strengthen our resolve, like the million souls that last week spoke with a single voice in the streets of Paris.”

A World Economic Forum poll of experts identified international conflict — including radical groups and the crisis between Ukraine and Russia — as the biggest threat to global stability over the coming decade.

Russia’s Deputy Prime Minister Igor Shuvalov insisted his country’s economic troubles were not the result of that conflict.

“Nothing is good in this current situation. It is a very difficult situation, and I think it will be getting worse. An anti-crisis plan of 2015 should be aimed at adapting to a hard landing, as we said before in 2008, as the economy is going down not that fast, but hard,” Shuvalov said. “We, from the citizens of Russia to big corporations and government, have to learn how to live in the new circumstances.”

Also facing a tough economy, Ukraine sent it’s largest ever delegation to the forum to drum up investment.


Vijay Vaitheeswaran of The Economist discusses global economy

CCTV America’s Philip Yin interviewed Vijay Vaitheeswaran, the China business and finance editor at The Economist about the conclusion of the World Economic Forum in Davos, Switzerland.

Vijay Vaitheeswaran of The Economist discusses global economy

CCTV America's Philip Yin interviewed Vijay Vaitheeswaran, the China business and finance editor at The Economist about the conclusion of the World Economic Forum in Davos, Switzerland.