ad info

TIME Asia Home
Current Issue
Magazine Archive
Asia Buzz
Travel Watch
Web Features
  Photo Essays

Subscribe to TIME
Customer Services
About Us
Write to TIME Asia
TIME Canada
TIME Europe
TIME Pacific
TIME Digital
Latest CNN News

Young China
Olympics 2000
On The Road

  east asia
  southeast asia
  south asia
  central asia

Other News
From TIME Asia

Culture on Demand: Black is Beautiful
The American Express black card is the ultimate status symbol

Asia Buzz: Should the Net Be Free?
Web heads want it all -- for nothing

JAPAN: Failed Revolution
Prime Minister Yoshiro Mori clings to power as dissidents in his party finally decide not to back a no-confidence motion

Cover: Endgame?
After Florida's controversial ballot recount, Bush holds a 537-vote lead in the state, which could give him the election

TIME Digest

TIME Asia Services
Subscribe to TIME! Get up to 3 MONTHS FREE!

Bookmark TIME
TIME Media Kit
Recent awards

TIME Asia Asiaweek Asia Now TIME Asia story
A woman who helps compile Forbes magazine's annual rich-persons list counted 45 billionaires--before even getting to the Americans (her boss, durable U.S. presidential candidate Steve Forbes, was on hand to flog the virtues of a flat income tax). With so many egos clashing and points of view contending, consensus was naturally difficult. Mealtimes were difficult as well. Gingrich showed up a few minutes late for the opening lunch session and was turned away in the crush. Yet amid all the glitter and palaver, a few generalizations can be made. A Davos sampler:

If a meal was being served--there were about 650 on the schedule--chances are it featured veal, the official dish of the World Economic Forum and the nation of Switzerland. Veteran participants sympathetic to the plight of calves knew to call ahead and ask for the vegetarian alternative. Neurobiologists in attendance quietly pushed all European cow products to the side of their plates, mindful of the continent's experience with Creutzfeld-Jakob disease.

The future of the world economy lies in online commerce. Many Silicon Valley sultans were on hand to stress that message: Microsoft's Bill Gates and's Jeff Bezos (whose firms together are worth more than the GDP of Kumaratunga's country), Dell Computers' Michael Dell, Sun Microsystems' Scott McNealy, Intuit's Scott Cook, visionaries Esther Dyson and Michael Dertouzos, and venture capitalists Ann Winblad and Joseph Schoendorf. Gates shocked one audience by declaring that the recent run-up in Internet-related stocks was unsustainable. If the tech moguls needed proof that the online revolution is on shaky ground they needed to look no further than their Davos hotel rooms. Surprisingly few had direct-dial telephones. So the lords of the Internet spent the week fuming that they couldn't get their e-mail.

The Year 2000 computer-bug problem surfaced at many panels, to general agreement that the U.S. was ready, Europe would get by and Asia was in for trouble. Mostly, though, nobody was worried about Y2K. Economists fretted that all the canned goods and spare parts stockpiled in anticipation of disruption would produce an inventory bubble that could slow the global economy next year. Tech experts at a private dinner organized a pool about what would happen at midnight on Dec. 31; the direst prediction was for scattered outages of electric power. In Davos, such disruptions will probably pass unnoticed. The lights went out at least twice during the week.

As the Davos meeting has grown in gravitas over the years, more and more participants have been showing up for panels in suits and ties. Alarmed, the World Economic Forum issued a bulletin that Friday would be a "casual day," during which delegates could return to the confab's original traditions of ski-sweater informality. Like so much else at last week's session, the message was largely ignored.

PAGE 1  |  2


February 15, 1999

The Committee to Save the World
Does superpower status now mean keeping the globe's financial systems on track? And is the trio of Greenspan, Rubin and Summers up to the task?

This edition's table of contents | TIME Asia home



U.S. secretary of state says China should be 'tolerant'

Philippine government denies Estrada's claim to presidency

Faith, madness, magic mix at sacred Hindu festival

Land mine explosion kills 11 Sri Lankan soldiers

Japan claims StarLink found in U.S. corn sample

Thai party announces first coalition partner


COVER: President Joseph Estrada gives in to the chanting crowds on the streets of Manila and agrees to make room for his Vice President

THAILAND: Twin teenage warriors turn themselves in to Bangkok officials

CHINA: Despite official vilification, hip Chinese dig Lamaist culture

PHOTO ESSAY: Estrada Calls Snap Election

WEB-ONLY INTERVIEW: Jimmy Lai on feeling lucky -- and why he's committed to the island state


COVER: The DoCoMo generation - Japan's leading mobile phone company goes global

Bandwidth Boom: Racing to wire - how underseas cable systems may yet fall short

TAIWAN: Party intrigues add to Chen Shui-bian's woes

JAPAN: Japan's ruling party crushes a rebel at a cost

SINGAPORE: Singaporeans need to have more babies. But success breeds selfishness

Launch CNN's Desktop Ticker and get the latest news, delivered right on your desktop!

Today on CNN

Back to the top   © 2000 Time Inc. All Rights Reserved.
Terms under which this service is provided to you.
Read our privacy guidelines.