DAVOS annual meeting continues

Added On January 25, 2014

Global business elites and government officials, pooling wisdom together at this year's World Economic Forum in the Swiss town of Davos, discuss major economic issues around the world.
Australian Prime Minister Tony Abbott says that people should be positive about global economy this year.
"And as 2014 begins. It's much easier to be optimistic. In the United States, economic growth is set to be under 2 percent to 3 percent with a million jobs created last year. China's growth is moderating as we all know. But it's likely to remain over 7 percent. Even the Eurozone is finally growing again." 
The minister also says that the global recovery is still weak. And governments still face challenges. 
"Of course as we all know, recovery remains fragile. The U.S. taper will need debt management. Around the world, over 300,000,000 young people are neither working nor studying in the global economy needs 30,000,000 more jobs just to restore the employment level from the before the global financial crisis. The challenge is everywhere to promote sustainable private sector led growth and employment and to avoid government knows best action for action sake. That's challenge we face."  
He also says that as the Chair of the G20 this year, Australia will try to help promote global growth.
"And this year, Australia is in a unique position to promote global growth as Chair of the G20. If large economies can individually achieve economic growth and can cooperate to achieve higher global growth. Obviously, every country benefits."  
The prime minister says that G20 should focus on four issues where coordinated international action could add value: trade, infrastructure, taxation and banking.
He also calls for G20 countries to resolve against protectionism and promote freer markets.
Meanwhile, Tim Hunt, winner of the 2001 Nobel Prize in Physiology or Medicine, says that economic recessions on science may lead to spending cuts. 
"The danger with short-term cuts in research founding is that you completely destroy the research base and you may destroy it actually for generations, because somewhere in the world there will be people who haven't cut."
Hunt says that sufficient financing is crucial for keeping the younger generation interested in scientific research, and teachers should pay a much more important role. 
"What should an ideal education system look like? It's something that I worry about a lot and something that I really don't know. I think the answer is inspiring teachers, simply as that, inspiring in all kinds of things, not only in science, but in music, in art. We just need to open people's eyes to the possibilities of what they can do. I think that is what the word education actually means. It means drawing out, finding what people are good at and bringing out their full potentiality. If you can do that for next generation it would be a wonderful thing."