Davos, Turkey, China and beyond

At the 47th World Economic Forum (WEF) in Davos, Switzerland, I heard an interesting Turkey rumor.  It was said that the recently established Sovereign Wealth Fund (UVF) decided to have a strong representation at Davos this year. They arranged meetings and interviews beforehand, and it was rumored that Energy Minister Berat Albayrak was to head the delegation. 

But they decided not to come at the last minute. The reason for the cancellation was also related, but I find it too risky to write about.

Heading the Silicon Davos 

I attended a reception the other evening for Germany's largest magazine group, Burda. You could learn everything about Davos in this reception. I learned that the WEF has decided to open an office in the digital world's heart, Silicon Valley. Murat Sönmez has been appointed to head the office. He is the son of my professor, Emel Doğramacı. He is a well-known name in Palo Alto circles. He was a top-level manager for long years there and then he worked for the WEF. 

The San Francisco office of WEF will be in one of the important parks of the city, Presidio. About 100 staff will work in the office. 

China and globalization

Chinese President Xi Jinping's speech was a surprise for everyone here in Davos. The leader of the Communist Party very openly defended "globalization." 

He said there was a time when China also had doubts about economic globalization, but, he added, "We came to the conclusion that integration into the global economy is a historical trend." 

He called on the entire world to support the global economy. His speech was totally on defending the free-market economy. 

He said the global economy was a big ocean and that it...