Recovery prospects top meet agenda

DAVOS, Switzerland: The risks of an uneven global economic recovery, powered by a booming China and held back by unemployment in the US and other wealthy nations, dominated the agenda yesterday as the World Economic Forum opened in the Swiss Alps.

The five-day gathering of movers and shakers was assessing a host of issues facing the planet, from disaster aid in the aftermath of Haiti's devastating earthquake to reforms aimed at preventing another financial markets collapse.

But the most pressing concern was steadying a shaky world economy that is likely to face tough challenges in 2010 as rich world unemployment remains high and governments are forced to pull back from lavish bailouts and stimulus packages that have propped up banks and other industries.