Capitalist culture was acclaimed at Davos 2006, writes Gamal Nkrumah World leaders noisily celebrated the make- believe comeback of capitalism at the Swiss mountain resort of Davos this week. "The market economy has taken root," Chinese Vice Prime Minister Zeng Peiyan triumphantly told delegates at Davos. China's economic prowess was celebrated at Davos and India's promising economic future was likewise spotlighted. "It is not just India and China," said Martin Sorrell, group chief executive of the British-based advertising giant WPP. "In the context of Asia it is countries such as Pakistan, Indonesia, Vietnam, and Bangladesh in the long-term that will become critically important." Indeed, the curious focus on Asia at the 2006 Davos summit was unprecedented. Some say that the world's political malaise could signal the beginning of the end of the age of prosperity. Instead of facing up to the devastating crises of development in Africa and other parts of the developing world, it seems, global leaders at Davos decided to adopt an ostrich-like attitude and bury their heads in the sands of cultural jamborees and self-congratulatory razzmatazz. The symbolism of the contrived merriment at Davos could be a sign of trouble ahead. Asia, quite understandably, was bound to steal the limelight. The culture of consumism is taking Asia by storm. India has become the fastest growing mobile telecommunications market with some 55 million susbscribers. In 2005, India attracted $6 billion in foreign direct investment while China enticed a staggering $60 billion from foreign investors. Meanwhile, Africa, the Arab world, Europe and the Americas had to be content with playing second fiddle at Davos. Small wonder -- India's economy is growing at a walloping eight per cent rate. Likewise China, at a nine per cent annual growth rate, is creating tremendous ripple effects. The other emerging markets of Asia -- the continent's proverbial tigers, are also not far behind. Many of Asia's emerging markets are achieving double-digit growth rates. Still the fact that India's illiteracy rate is 40 per cent and China's 20 per cent was conveniently overlooked. Moreover, both Asian giants are waking up to a potentially crippling HIV/AIDS pandemic. Going hand in hand with impressive economic performance is a cultural revolution in India and China. According to observers, the spread of HIV/AIDS is at least partially correlated to the fast changing sexual attitudes in both countries. "I express my freedom through sex," brags China's blogger sensation Li Li, whose sex diary has become the most popular Web site in China today. Such an attitude would have been unthinkable a generation ago. She speaks on behalf of her generation when she says, "We're too busy having sex." The Chinese film Perhaps Love symbolises the change in lifestyles and self-perceptions. It "brims with pop energy without sacrificing emotional punch," commented Brian Walsh in Time Asia. The traditionally conservative Asian mindset is fast changing and keeping up with galloping economic growth rates. Recently conducted polls point out that 70 per cent of Beijing residents say they have sexual relations before marriage, compared with just 15.5 in 1989. Even so, social and health crises aside, the remarkable economic achievements of the world's two most populous nations cannot be underestimated. And Davos, as always, provided the perfect forum for the rich and powerful to network and broker deals. "That's what the purpose of this meeting is," noted Klaus Schwab, founder of the WEF. "The forum will provide platforms for collaborative efforts so the new initiatives or ones that have been enhanced will be implemented," he declared. He was obviously putting his heart into spreading the notion of capitalist triumphalism. Indeed, there was a sense of urgency in the drive to promote global free-marketeering and neo- liberalism, taking Asia as an exemplary showcase of capitalists-take-all. The international media warmed up to the theme of this supposed global economic well-being. "The world economy is starting to fire on multiple cylinders," trumpeted London's Financial Times. But it did conclude on a somewhat more sombre note that the international political climate is not conducive to economic growth. "Turbulent world politics crowd the comfortable business environment," the paper explained. The World Economic Forum's five-day networking deliberations focused essentially on Asia's economic achievements. However, stars also featured prominently at Davos -- and it wasn't just Hollywood this time. Indian actress Shabana Azmi received the Crystal Award at the summit, a prize presented to artists who use their work to reach out to other cultures. Indeed, while world leaders congregated as usual on Davos, this year saw far more cultural workers and especially artists, actors and actresses than normal. "It is a unique cast," explained Schwab. Bill Gates of Microsoft and Eric Schmidt, chief executive of Google, showed up, but it was the likes of Angelina Jolie that stole the show. "This is the year to watch out carefully for the end of the great American spending binge," said Stephen Roach, chief executive of the US bank Morgan Stanley. For some who attended the Davos assemblage fears about widening global economic inequalities were matched by worries about deep global cultural differences. Obviously Samuel Huntington's notion of the Clash of Civilisations holds true for many weighty minds. Former United States President Bill Clinton, another star at the event, expressed grave concern about the "enormous cultural and religious divides ... We need to quit arguing about what should and shouldn't have been done before, and just look at it now."
