The 2010 annual meeting of the World Economic Forum opens on Wednesday. During the five-day meeting, over 2,500 leaders from business, government, civil society, academia and the cultural community will gather to address pressing challenges and future risks.

 

This year marks the 40th anniversary of the World Economic Forum Annual Meeting.

As an important marker of the world economy at the beginning of every year, the forum has attracted global attention.

The theme for this year is "Improve the State of the World: Rethink, Redesign, Rebuild."

Topics range from how to keep economic recovery on track to streaming humanitarian and disaster aid in the aftermath of the Haiti earthquake.

Uncertainty in the world economy has become a big topic at the Forum. Recovery has been apparent but policy makers around the globe are wondering when to exit their stimulus measures. An early exit may compromise previous recovery while a late one could cause inflation.

Emerging markets have come to account for half of the world production. Rising importance of developing countries has got the Forum to set up separate panel discussions for China, Brazil, South Africa and India. The forum will also debate on rising protectionism in some developed nations.

The United Nations has estimated that up to 27 million people have lost their jobs in 2009. The unemployment rate in the US and the Euro zone has exceeded 10 percent. It has been said that it may take four years for the global employment market to recover to the pre-recession level. Social security measures become crucial for the prevention of social unrest.

The financial crisis exposed the dark side and faults of the current international financial system and economic governance. The international community has been calling on enhancement of financial supervision and regulation of financial institutes. The US has already mapped out some moves. Financial reform will be a focus for the Forum.