Resilient Dynamism

A special address by Christine Lagarde

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 Outline :

The Event :

 World Economic Forum (WEF) ...........................4

 The DAVOS annual meeting in 2013 ..................5
 Resilient Dynamism………………………….….…….7
 Christine Lagarde……………………………………….8
 Notable quotations……………………………….….…9

Detailed analysis :

 Summary of the special address by Christine

Lagarde ……………………………….......................10

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The World economic forum
(WEF)

The World Economic Forum (WEF) is a Swiss nonprofit foundation, based

in Cologny, Geneva. It describes itself as an independent international organization
committed to improving the state of the world by engaging business, political, academic, and
other leaders of society to shape global, regional, and industry agendas. The forum is best
known for its annual winter meeting in Davos, a mountain resort in Graubünden, in the
eastern Alps region of Switzerland. The meeting brings together some 2,500 top business
leaders, international political leaders, selected intellectuals, and journalists to discuss the
most pressing issues facing the world, including health and the environment. Often this
location alone is used to identify meetings, participation, and participants with such phrases
as, "a Davos panel" and "a Davos Man.

The organization also convenes some six to eight

regional meetings each year in locations such as
Latin America and East Asia, as well as
undertaking two further annual meetings in
China and the United Arab Emirates. Beside
meetings, the foundation produces a series of
research reports and engages its members in
sector specific initiatives.

The 2011 annual meeting in Davos was held from 26 to 30 January. The 2012 meeting was
held on 25–29 January 2012, with the theme "The Great Transformation: Shaping New
Models".

The 2013 meeting was held from 23 to 27 January, with the theme of "Resilient Dynamism,"
following founder Klaus Schwab's declaration that "the need for global cooperation has
never been greater".

The 2014 meeting was held from 22 to 25 January, with the theme "The Reshaping of the
World: Consequences for Society, Politics and Business".

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The Davos annual meeting in
2013

We live in the most complex, interdependent and interconnected era in human history – a reality
we know as the hyperconnected world. This reality presents a new leadership context, shaped by
adaptive challenges as well as transformational opportunities. Yet efforts to rebuild confidence and
restore growth remain vulnerable to looming political and economic shocks. Indeed, there is no
“risk-off” setting for the global economy, but leaders from the public and private sectors need to
adopt a “risk-on” mindset to catalyse dynamic growth. Dynamism in this context requires successful
organizations to demonstrate strategic agility and to possess risk resilience.
“Resilient Dynamism”, therefore, is the focus of the World Economic Forum Annual Meeting 2013.
The aim is to catalyse and facilitate global, regional and industry transformation as a trusted partner
of our Members and constituents. For more than 40 years, the Annual Meeting has provided an
unrivalled platform for leaders from all walks of life to shape the global, regional, industry and
business agendas at the beginning of the year in Davos. These agendas are integrated into the design
of the 2013 programme:

The Global Agenda

– How to get the global economy back on to
a path of stable growth and higher
employment
– How to address persistent vulnerabilities
within the international financial system
– How to increase global, national and
industry resilience to major systemic and
catastrophic risks

The Regional Agenda

– How to adapt to leadership transitions among G20 members and to understand their geopolitical
and geo-economic implications
– How to navigate the political and economic transformations in Europe, the Middle East and North
Africa
– How to ensure that protectionism and nationalism do not derail regional economic integration
and multilateral economic cooperation in Asia, Africa and the Americas

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The Industry Agenda
– How to thrive when global competitiveness is increasingly driven by talent and innovation
– How to ensure stable, sustainable and affordable supplies of critical natural resources
– How to navigate a changing regulatory environment while pursuing new growth opportunities
The Business Agenda
– How to create new value in the face of generational and structural shifts that are reshaping
business models – How to adapt to the future evolution of social technology in a business context
– How to leverage rapid and far-reaching advances in science, technology and medicine

The World’s Foremost Multistakeholder Community of Leaders

Participation in the World Economic Forum Annual Meeting is by invitation only for:
– Chief executives and chairs of our 1,000 Partner and Member companies
– Political leaders (from the G20 and other relevant countries)
– Heads of international organizations
– Experts representing our Global Agenda Councils
– Representatives from all our civil society stakeholder groups
– Young Global Leaders – Social Entrepreneurs
– Technology Pioneers – Global Shapers (under the age of 30)
– Media leaders
– Spiritual and cultural leaders

Participants will share insights on critical strategic and structural changes, catalyse sought-after
solutions and collaborate on the risks and opportunities that lie ahead in the new year. And in the
true “Davos Spirit”, the aim is to elaborate bold ideas and promote innovative solutions in an
exceptional multistakeholder environment.

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Resilient Dynamism

The 43rd Annual Meeting’s theme Resilient Dynamism perfectly captured the tenor of the global
economy at the start of what Christine Lagarde, Managing Director of the International Monetary
Fund (IMF), reckoned will be a “make-orbreak” year. In the post-crisis world, resilience must be a
goal for all countries if they are to endure another significant downturn.

Achieving dynamism also has to be a priority now that crisis response has given way to the
implementation of restructuring programmes.

Stimulus by central banks has bought time. But now investments are needed to drive the growth
required to create jobs, especially in the United States and European economies where austerity
measures have driven up unemployment, and countries in the Middle East and North Africa where
popular uprisings have revealed the extent of the dissatisfaction among Arab youth.

Throughout the Meeting, in more than 250 sessions and numerous private meetings, participants
discussed the various aspects of resilient dynamism and the importance of strategic agility, the ability
not only to manage risk but also to adapt to its permanence and unfathomable variability.

Leaders should nurture the capacity to take calculated risks when doing so might produce
meaningful returns and worthwhile rewards.

Resilient dynamism means

tackling immediate
problems and long-term
challenges at the same time.
In a session on Europe,
Young Global Leader
alumnus Valdis
Dombrovskis, Prime
Minister of Latvia, described
how, confronted by the
crisis, his government had
to implement an austerity
programme while also
taking steps that would improve the economy’s competitiveness over time.

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Christine lagarde

Christine Madeleine Odette Lagarde; born 1 January 1956 in Paris is a Frenchlawyer and Union
for a Popular Movement politician who has been the Managing Director (MD) of
the International Monetary Fund (IMF) since 5 July 2011. Previously, she held various
ministerial posts in the French government:

She was Minister of Economic Affairs, Finance and

Employment and before that Minister of Agriculture
and Fishing and Minister of Trade in the government
of Dominique de Villepin. Lagarde was the first woman
to become finance minister of a G8 economy, and is the
first woman to head the IMF.

A noted antitrust and labor lawyer, Lagarde became the

first female chairman of the international law firm Baker
& McKenzie. On 16 November 2009, the Financial
Times ranked her the best Minister of Finance in the Eurozone.

On 28 June 2011, she was named as the next MD of the IMF for a five-year term, starting on 5 July
2011, replacing Dominique Strauss-Kahn.

Her appointment is the 11th consecutive appointment of a European to head the IMF.
In 2014, Lagarde was ranked the 5th most powerful woman in the world by Forbes magazine.

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Notable quotations

“Europe faces issues, but its destiny shines through the smoke and fog. I’m
optimistic about Europe’s future”
Christine Lagarde, Managing Director of the IMF, in Resilient Dynamism

“Unless we take action on climate change, future generations will be roasted,

toasted, fried and grilled.”
Christine Lagarde, Managing Director of the IMF, in Resilient Dynamism