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00:00:00
>> The world economic forum in Davos hasn't even started yet and it's all about who isn't here. The scene is set at the snow blanketed Swiss ski resort for the annual gathering of government's business and civil society leaders. But an array of crisis is keeping the big names away.
00:00:16
Trump and his shutdown, May and her Brexit, Macron and his Yellow Vests, and the web's own stark warning of global head winds isn't helping either. Reuters' Silvia Aloisi is covering this year's meeting.>> Last year, Davos was all about optimism. Everyone was really hunky-dory about the outlook for the year.
00:00:35
This year, it's the exact opposite. There's sort of a sense of gloom and doom. People are worried about an economic slow down, which some people think could even tip the world economy into recession. There's trade tensions, particularly between the US and China. There is the end of easy monetary policy, that it's not gonna help at the time when the economy across the globe is slowing down.
00:01:02
Stock markets are not going well. So there's many, many worries and actually not very many people around here to reassure investors and business leaders that things will not get out of control.>> Only three leaders of the group of seven will turn up, Japanese Prime Minister Shinzo Abe, German Chancelor Angela Merkel, and Italian Premier Giussepe Conte.
00:01:23
Russian and Indian heads of state are also shunning the mountain get-together. And China, whose President Xi Jinping was the first Chinese leader to attend the elite gathering in 2017, is sending his deputy instead.>> Davos will though, be the first major outing for Brazil's new far right president, Jair Bolsonaro.
00:01:41
But despite the lack of headline acts, the main draw of the many delegate is the networking and deal making that happens in the corridors and at the parties. So valuable that attendees pay up to $50,000 just to be here.