World Economic Forum opens in Davos

The World Economic Forum has opened in Davos Switzerland. The meeting will focus on how to improve the regulation of financial systems to avoid future crisis, and will also address whether the global economic recovery can be sustainable.

During his speech at the opening ceremony, the founder and executive chairman of the forum, said concrete steps had to be taken to rethink values, redesign systems and rebuild institutions to counter the economic crisis.

Klaus Schwab, WEF Founder & Executive Chairman, said, "We can no longer revert to the old system individually and collectively. We must all address the new reality and embrace the scene of our annual meeting 2010, improving the state of the world, rethinking, redesigning, and rebuilding. "

The World Economic Forum has opened in Davos Switzerland.