Broadcasts

Welcoming addresses:

Elvira Nabiullina, Minister for Economic Development of the Russian Federation, Chair of the Forum Organizing Committee

What lessons should individual countries and the global economy as a whole learn from the global crisis? How should the global economic system evolve in order to build sustainable national economies? What steps should be taken by national governments?

How should the system of global governance institutions evolve to avoid similar crises in the future? Where is the borderline between the responsibility of national governments and the concerted action of all countries in the world? What problems are still overlooked but may emerge in the near future?

THE KEYNOTE ADDRESS BY

THE PRESIDENT OF THE RUSSIAN FEDERATION DMITRY MEDVEDEV

Discussion on the global role of energy resources, the structure of demand and demand forecasts, and the potential for the development of alternative energy sources. Can “black gold” become a store of value? Russia’s contribution to global energy security.



Global Energy Award nominees:

Alexey Kontorovich, Academician

Nikolai Laverov, Academician

Brian Spalding, Professor



RUSSIAN PRESIDENT DMITRY MEDVEDEV ANNOUNCES THE WINNERS OF THE INTERNATIONAL GLOBAL ENERGY AWARD

The current crisis shows that contrary to the general belief of only a year ago, national economies have become more interdependent, although each has been affected by the crisis in its own way. At the same time, international and national institutions established in the post-war period have failed to match the present-day development of the global economy and the financial system or maintain the necessary level of confidence in the economic system.

What are the specifics of the situation in the economic and banking systems in different regions of the world? What measures should be taken on a national and supra-national level to amend the situation? What is the role of the banking sector and the government policy in this sector? Will the reform of the financial system suffice or a wider range of structural improvements is needed?

When favorable global market conditions, positive demographic trends, and available capacity – have largely dried up, in this new environment labor and capital productivity become critical drivers for the economy’s future growth. The current global economic crisis has made urgent the need to address the productivity challenge. How to close the gap and what are the drivers of low productivity? What it takes to optimize business processes and achieve investment effectiveness, upgrade obsolete capacity and production, remove administrative barriers in key sectors? What joint efforts will be required from business and government to unlock Russia’s productivity potential? What are the short term and long term priorities?

The economic crisis is destabilizing the world. International terrorism, piracy, financial and other crimes have become more of a danger. How can Russia help to provide global security? New breeding grounds of international terrorism and the need to confront it, both economically and geopolitically. The piracy of the 21st century.

National governments are taking a leading role in stabilising the economic situation. What are the most efficient monetary and fiscal measures? What forms should government investment and the debate on nationalisation take? How can public-private partnerships effectively replace direct state interference? What measures should Russia take?

Economic relations between Western Europe and Asia urgently require the development of uniform logistical concepts. A well-elaborated system of distributional logistics is a prerequisite for a competitive economy. A growing need for modern, high-quality and primarily rapid transport networks requires interstate cooperation and significant development of the infrastructure in Russia.

Topics for discussion include modern logistical standards, customs and technical requirements for admission, interconnection between different modes of transport and unification of standards, barriers facing free railway freight transportation, and measures to develop infrastructure (emphasis on Russian regions).

Global crisis signals the limits of the old model of economic growth. Should Hi-Tech and innovation become the new platform to restart the engine of growth.

Can hi-technological industries serve the foundation for the new economy? What industries will lead growth after the crisis? When and how the new growth pattern will be launched? What’s the role of the world’s largest technology corporations? What are the new consumption patterns – what to expect from consumer and what the technology companies should prepare for? What direction in the technological progress will prevail: breakthrough in communications and IT, innovations in the traditional industries or the alternatives: bio and nanotechnologies? What should be the role of the government to jump start, facilitate and boost the technological progress?

The current crisis has demonstrated the failure of the self-regulating market economy. Debate between followers of the Chicago economic school of Milton Friedman and supporters of more regulated systems.

What measures are governments taking to minimize the adverse impact of the economic crisis on society? Who should be the first to receive aid: businesses or people? What ways are there of developing into a country with a high level of social security? With current budget deficits, will government funds be more effective if distributed as family allowances or as subsidies or benefits for enterprises? Examination of issues of profitability vs. social responsibility in light of the severe social impact of the crisis.

Regional cooperation to enhance the stability of economic growth. Ways to develop investment cooperation between SCO countries. The role of banking and insurance mechanisms in social and economic development and their importance in realizing the Program of Multilateral Trade and Economic Cooperation.

The Great Depression demonstrated that excessive protectionism serves to aggravate a crisis. How can the unjustified growth of protectionism be prevented? Protecting national interests and various forms of protectionism.

Business leaders around the world need new skills to cope with the rapidly changing economic realities. How can society train new leaders? Are academic institutions lagging behind the new challenges? How can we (and should we) bridge the gap between skills produced by academia and the demands of the economy and society?

In past centuries, the world has seen numerous examples of how to deal with economic crises and recover. The world’s leading academics will analyze lessons from the past and discuss possible ways to avoid making the same mistakes and foresee what’s coming next.

Global imbalances and the reform of financial regulation. Reforming international financial instruments (FSB establishment, IMF reform) and building new relations between ministries of finance and regulators worldwide to mitigate global systemic risks (coordination, supervisory boards). Practical solutions for the recovery and future development of the global financial system. Is the crisis a source of new opportunities and a stimulus to improve efficiency? Is the Russian financial system free of “toxic” assets?

Financial institutions’ views on the future of the financial architecture. The topics to be discussed include how the financial architecture will change, what future there is for investment banks, how the role of various financial institutions will evolve, and the reform of financial regulation.

Cooperation between regulators from different countries, key risks of the financial system, new disclosure formats, credit-rating and audit requirements, cooperation with regulators, interstate regulation of rating agencies.

What makes a leading financial center? How do such centers adapt to changes in financial architecture and regulation? What is Moscow’s role, and what is its potential as a regional financial center?

The majority of foreign countries, including Russia, keep their international reserves in foreign currencies. How safe are those reserves? Responsible monetary policy of countries issuing reserve currencies. The role and prospects of reserve currencies. Can the ruble become a reserve currency?

New technologies that change the infrastructure of the payment industry. How should the global payment system evolve? What risks exist today, and what challenges will have to be overcome in the future? How do bank transfers help national governments worldwide? Innovation in payment modes – the driver for the banking system.

A certain negative trend may be perceived today; lacking a coherent and overarching strategic approach to guide development of cities. Period of limited growth or economic decline, should also be seen, by the City Authorities, as a moment of opportunity for formulation and implementation of strategic masterplans, making cities attractive and steering towards future dynamic development.

Panel discussion involving world-renowned experts and the business community

Global economic development scenarios and major market recovery forecasts. How long will the global economic crisis last? What will the impact be on key sectors of the economy? Which countries and economies are likely to overcome the crisis first, and which will be least affected? How will global capital flows change? What country will emerge as the most attractive investment destination?