DAVOS MEETING: WHAT JONATHAN MISSED
President Goodluck Jonathan caused some government officials heartache. That is because he did not go to Davos, Switzerland, for a meeting. His advance party had the most ache; they were waiting for the president to arrive, hard currency from the nation’s treasury in their pockets, but were instructed to return home in the end.
The president made it to Ethiopia for the African Union meeting during the same weekend though, but Davos was where world’s Who’s Who? in economic matters gathered. Now the economy is one sector that challenges the nation at the moment, yet the president was missing in action at a forum that could bring benefits to Nigerians. In the light of this, it is useful to take a closer look at what the January 25-29 Davos annual meeting, otherwise called World Economic Forum and the brainchild of the German economist, Klaus Martin Schwab, had on offer in 2012.
The theme for this year is, The Great Transformation: Shaping New Models. The organizers point out that an increasingly complex, interdependent and fast-paced world creates not only diverse outcomes but also unintended consequences that constantly test the cognitive limits of leaders and force them to shape new models.
As such, the four sub-themes of the programme are conceptualized to underscore the linkages between various models when addressing complex global, regional and industry issues. These include Growth and Employment Models which state that the policy prescriptions, industry models and performance incentives that emerged from an era of consumption and debt-driven growth must be transformed to deliver quality growth. The thinking is that growth that is sustainable, entrepreneur-driven and employment-creating should be the outcome of the rebalancing and deleveraging of the global economy. Further, as traditional work opportunities decline as a result of production increasingly based on knowledge and ingenuity, the organizers are of the view that individual entrepreneurship will become a critical factor for future job and growth creation.
Another sub-theme is Leadership and Innovation Models. This states that the leading countries and global governance institutions of the Cold War era must create space for major emerging economies, private sector institutions and multi-stakeholder partnerships. The main view here is that the new actors should have the responsibility not only to address important global and regional challenges but also to introduce innovative solutions. Organizers believe that the future will also show that younger and older generations will play a greater role compared to today. Thus, they emphasize that rebirth of intergenerational responsibility should be embedded in leaders to avoid a future demographic divide. Also, with Sustainability and Resource Models, organizers state that realization that human activities have a major impact on Earth’s ecosystem makes it imperative to have a drive towards future changes in behaviour and policies. And for this reason, they note that ecological footprint needs to be fully internalized in business models; a new mindset should drive collaboration and innovation among governments, industries and companies to ensure that future resource constraints do not lead to greater energy, food and water insecurity.
The last of the sub-themes is Social and Technological Models, and it is informed by the organizers’ conviction that the next wave of technological innovation, particularly in life sciences, nanotechnology and artificial intelligence, will not just deliver productivity gains but will also transform mankind by adding new dimensions to lives. They state further that at a societal level, the norms, behaviours and values protected and celebrated in the physical world are neither clearly established nor firmly anchored in the digital world. As the “Internet of things” that connects billions of sensors and devices becomes a reality, stakeholders should work together to safeguard the knowledge, data and networks that are critical resources for man’s future development, they posit.
This world’s foremost multi-stakeholder meeting at Davos is by invitation only and limited to the world’s leaders; chief executives; political leaders from the G20 and other relevant countries, as well as selected groups from across the world. The meeting has the sole purpose of ensuring that leaders exercise their responsibilities – jointly, boldly and strategically – to improve the state of the world for future generations. And at this year’s meeting, leaders shared insights on what has changed fundamentally in the world, explored new conceptual models that are emerging, catalyze sought-after solutions and collaborate on the risks and opportunities that lie ahead. To this end, the meeting provided an unrivalled platform for leaders from all walks of life to shape the global agenda at the start of the year. The 2012 meeting provided participants with strategic insights from each of the four thematic clusters, with the development of a Risk Response Network. And particular emphasis was placed on addressing the question of “How”, while elaborating innovative ideas and solutions to global challenges in a multi-stakeholder environment. This was the meeting President Goodluck Jonathan missed as a result of the security situation at home.
There is no doubt that both the theme of this year’s meeting, as well as the sub-themes, and the quality of participants would have been mind and eye-openers for the president in his quest to transform every sector of national life. Each of the models, as enumerated above, resonates and they have relevance for the Nigerian condition in the face of grinding unemployment, the lack of a ‘connect’ between tertiary education and the nation’s industrial needs, as well as ecological and environmental best practice that is yet to be internalized in economic activities.
It was good though the Finance Minister, Ngozi Okonjo-Iweala was in Davos, and so was Central Bank Governor, Sanusi Lamido Sanusi; outspoken and concise as ever, Sanusi gave an insightful interview on prospects for the Nigerian economy. These are mouths and ears of the president, and it is hoped they will brief him, and also make what they experienced in Davos count for the president’s Transformation agenda. Overall, the president’s absence at Davos emphasizes a need - the need for him to do what he knows in all sincerity needs to be done and resolve lingering security problems, so that he can pay more attention to other pressing issues, and be in places where the nation stands to gain.
Tunji Ajibade is a Communications Consultant. [email protected]