This year’s theme for the Forum – “Growth Opportunities Beyond the Crisis” – is a reminder that the financial landscape has changed dramatically since the last time this Forum was held. The turning point in the global financial crisis is generally agreed to have been the bankruptcy of the investment bank Lehman Brothers in the middle of September last year.
This turned a problem that had been seen as primarily affecting the developed markets into a worldwide phenomenon. Previously the slowdown was expected to be limited to the developed markets while the emerging markets continued their recent strong growth. After Lehman the slowdown began to affect all parts of the global economy.