Davos makes running on climate change ; WORLD ECONOMIC FORUM Gates shorts the dollar l China defiant on renminbi l UK in buoyant mood First Edition

• Published in: Independent (London, England : 1986)
• Main Author: JEREMY WARNER IN DAVOS
• Format: Newspaper Article
• Language: English
• Published: London (UK) Independent Digital News & Media 31.01.2005
• Subjects: Blair, Tony; Bush, George (President); Gates, Bill; Gates, William H III; Soros, George
• ISSN: 0951-9467

[Tony Blair] perhaps put it best in his speech to the WEF when he said that if America wants the rest of the world to be part of the agenda it has set, then it must be part of their agenda too. Mr Blair has been an incredibly loyal ally of Mr [Bush], almost slavishly so, and at a considerable political cost to himself. As Britain assumes chairmanship of the G8, determined to use that stage finally to do something about climate change and Africa, it's time to call in the debt. Mr Bush listens to the British Prime Minister and is influenced by his views. Mr Blair apologises often enough for Mr Bush who, to use a Bushism, he regards as much misunderestimated. If ever there was a time for payback, this is it. NOTICEABLY ABSENT this year are any heavyweight representatives of the US administration, or indeed US business, other than the ever- present Bill Gates, who in any case is here more to pursue his philanthropic agenda than his business activities. This is seen by some as further evidence of American disengagement from the rest of the world. Why get beaten up for Iraq by the international community in Davos when you don't need to? But there is perhaps a more obvious explanation. Mr Bush has just been sworn back into office and his state of the union address is yet to come. For those in the administration who value their jobs, this is not the time to go swanning off to the ski slopes of Europe. The same applies to business leaders and elected representatives. You never know what the President is going to do when your back is turned. For the rich, powerful and influential of America, this is a time of collective paranoia. Until the President is settled back in, Africa and climate change can go take a hike. EVERYONE'S GOT a view on the currency markets here in Davos, but that's never any guarantee of enlightenment. Mr Gates thinks the dollar has still got further to fall. He's worried about the world's biggest reserve currency having so much debt, so he's short of it. George Soros, a regular at these meetings, naturally has his opinion but he's not saying what it is because he fears it might influence the markets. I'm not sure he's right about this. Gone are the days when the pronouncements of Mr Soros would move currency markets.