Source:
al JazeeraThe annual Davos gathering of world political and business leaders has opened against the backdrop of Tuesday's cut in US interest rates aimed at preventing a global recession.
It marks a contrast to recent years, when the meeting has come against a backdrop of high corporate profits, strong economic growth and tame inflation.
As the 38th World Economic Forum (WEF) opened in the small Swiss ski resort on Wednesday, the global economy found itself faced with slowing growth, the subprime crisis, increasing oil, food and other commodity prices and the huge slides in stock markets.
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