Slow growth concerns, terror threats cast shadow on WEF meet

Fears of slow economic growth, including in emerging markets, and concerns over rising terror attacks have cast a shadow over the WEF annual gathering as the rich and influential deliberate on ways to boost global economy.
With leaders from various countries, including US Vice President Joe Biden descending at this Alpine town, security measures have been beefed up by the Swiss authorities amid rising terrorism concerns.
Meeting under the theme of 'Mastering the Fourth Industrial Revolution', this year's WEF meet would see participation of about 2,500 individuals, including political leaders and business honchos.
The sluggish growth in China, whose economy expanded at the slowest pace in 25 years at 6.9 per cent last year, is likely to be a talking point at this annual meet of the rich and the powerful.

The security situation has become tougher this year in the wake of terror attacks in Paris and other places in recent months.
The Swiss Parliament has given its approval for deploying up to 5,000 Army personnel for the annual WEF meeting.

Flagging off various risks to the world economy, the International Monetary Fund (IMF) on Tuesday trimmed the global growth forecast for 2016 to 3.4 per cent from 3.6 per cent estimated earlier.
Besides, the projection for growth in 2017 has been cut to 3.6 per cent, down from 3.8 per cent forecast three months ago.
"India and the rest of emerging Asia are generally projected to continue growing at a robust pace, with some countries facing strong headwinds from China's economic rebalancing and global manufacturing weakness," IMF said.

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In a message to the World Economic Forum, Pope Francis today urged leaders "not to forget the poor".
He asked business leaders' to see creation of jobs as an essential part of their service to the common good alongside producing wealth and improving the world.
"The present moment offers the world a precious opportunity to guide and govern the transformations associated with the fourth industrial revolution in a way that builds inclusive societies," the Pope said in his message.
However, he said it brings diminished opportunities for employment that also brings with it a responsibility among leaders to create jobs, tackle inequality and help solve society's complex crisis.

On the risk that the fourth industrial revolution poses to labour markets, the Pope said, "Clearly there is a need to create new models of doing business that, while promoting the development of advanced technologies, are also capable of using them to create dignified work for all."
The Pope encouraged leaders to seize the opportunities that the Fourth Industrial Revolution presents and said WEF can become a platform for the defence and protection of creation and for the achievement of a progress which is healthier, more human, more social and more integral.