How Davos got its mojo back

See images from the World Economic Forum in Davos.

The Davos crowd has its mojo back. You’ve got a plush, revamped Congress Centre, a duet of Swiss 10-foot horn blowers welcoming at the entrance, hot potato soup with freshly sliced black truffle at the opening reception, and a group of 2,000+ global elites, most of whom are (finally, two years plus after the financial crisis) making (what they consider real) money again. And expecting more of same.

That’s certainly the case with the bankers, who are back in force this year. With Lloyd Blankfein becoming a fixture at the White House, there’s not much downside for Jamie Dimon coming to schmooze in the Alps. No talk of (or panels about) compensation, and not much grumbling about it. Not much focus on climate change in the sessions–have heard a little hand wringing on that front. But only a bit … if the first evening is any indication, attendees this year want to get their growth on.  

In a few informal conversations at the opening reception, the overwhelming intention was to focus on the bright side. Even one of the largest Greek shippers was waxing poetic about the Papandreou government … how they’re taking austerity seriously and getting their economy in order. And while you wouldn’t want to invest in Greece right now, the shipping industry is picking up.  Good to know.

But if it’s upbeat, it’s also everyone talking their own book. There’s very little coordination, very little governance. And while the behind the scenes WEF meetings are furious with Sarkozy-initiated bilaterals to help prep for a productive G-20 in Cannes at the end of the year, there’s no agenda setting … either on currencies, trade, financial regulation, or what-have-you. Which discomfits the WEF leadership — they’ve organized Davos on the notion of the shared values of globalization for some forty years, but those values were primarily western, bringing the developing world closer to the west … their labor, manufacturers, consumers, and profits.  That notion of globalization, at least, feels thoroughly forgotten.

A couple of quick tidbits from the halls to add:

When you have a G-20 to deal with, being a minister doesn’t buy what it used to in Davos. Ask the Colombian finance minister, who apparently flew in this morning without a registration or a hotel room … and ended up flying right back to Bogota. In the old G-7 days, it was a lot easier to make those late exceptions…

Russian president Dmitry Medvedev was on again, off again at least three times with his plenary scheduled for tomorrow. It’s happening, he’s on his way … despite the terrorist bombings at Domededovo airport. Also, found it interesting that the Russian government announced planes were only 20 minutes delayed later on the day of the attack. The Russians aren’t about to be cowed by terrorism. Or, for that matter, public opinion.

And my buddy, New York Times journalist (and last year’s Davos “it” fellow) Andrew Ross Sorkin, who picked up the wrong suitcase at Zurich airport…and realized he had somebody else’s suits when he pulled up two hours later in Davos. Sneakers, no boots. Must see how he’s holding up tomorrow… 

Ian Bremmer will be blogging from inside the 2011 World Economic Forum this week.