In the News (from BBC News): “Companies around the world are getting gloomier about the economic future again, according to an annual survey of global chief executives.
“For its survey, PricewaterhouseCoopers interviewed 1,258 chief executives in 60 countries during the last three months of 2011.
“Nearly half of bosses interviewed by accounting firm PricewaterhouseCoopers are forecasting that the global economy will decline this year.
“The number of business leaders that are ‘very confident’ their firms will grow has also fallen, from 48% to 40%.
“The survey was released as the annual meeting of the World Economic Forum in the Swiss mountain resort Davos got under way.
“With the eurozone crisis still unresolved, it is no surprise that chief executives of Western European companies are most pessimistic.
“But even Asian bosses are feeling economic pressures. Overall, just 42% are very confident, a fall from 52% a year before
“Most surprisingly, even in China – where year-on-year economic growth still runs at 8.9% – only a smidgen over half of the number of bosses surveyed expects to grow this year. That’s down a massive 21 percentage points from last year, when 72% were bullish about their business.
“Indian business confidence has plummeted as well, down from 88% to 55%.”
My Comment: Evidently, they have not fallen completely yet to admit that the new laws of the world are in effect now, which must be studied and obeyed. And therefore, the decisions of the Forum will be based on the old paradigm and will result in the decline of all economies, the growing number of the unemployed, homeless, hungry, and…those who protest. The latter will shake up society and lead to freedom from the control of the rich.