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Davos Dispatch: Thoughts on three speeches

Vice President Cheney’s speech at Davos was widely covered in the world press. He focused on the risk of “new and far greater terror” than that of September 11 itself, which itself he called “only the merest glimpse of the terrorism that threatens us all.” In artful language, he argued that freedom and democracy everywhere would overcome those risks; in the interim, however, and as a last resort there might need to use force.

Davos Dispatch: Clinton brings development to Davos

In contrast to Davos-in-NY in 2002, when the post-Sept. 11 talk was of the risk of terror and Davos 2003 when the corridor discussion was mostly about Iraq and the impending war, there is no grand obsession this year. There is sensible and mildly worried talk about whether the global economic recovery will be sustained. Most attention is given to the imbalances in the world economy – particularly U.S. budget and current account deficits; the Europeans’ tepid growth and stolid Central Bank reluctance to stimulate; and the Chinese resistance to letting their currency appreciate.