Davos Diary Day 2: Trust Barometers, Gordhan and the 21st century Renaissance

Day two in Davos and Alec Hogg’s been jumping from session to session as the town engulfs itself with the Fourth Industrial Revolution. It was an early start as Alec engaged himself in Edelman’s annual trust barometer. Not the news many South Africans want to wake up to though, only 16% of those surveyed trust government, the lowest of all countries surveyed. Oxford University’s Ian Goldin spoke about the 17th century Renaissance and how it’s being reflected in the Fourth Industrial revolution of today. Alec also attended the Pravin Gordhan press conference, which didn’t offer anything newsworthy but did offer a glimmer of hope. This is day two of Alec Hogg’s Davos Diary. – Stuart Lowman

Alec Hogg: It’s Alec Hogg from Davos with Diary Day Two and it was six of the best. I started off this morning at about 6:00am when I went along to the Edelman’s Trust Survey. They interviewed 33,000 people around the world and sadly, the news for South Africa is not good. Of the countries that were highlighted this morning (having not performed well), South Africa came out on top – only 16 percent of South Africans believe or trust in their government. Interestingly enough, 60 percent believe that companies are doing a good job. One of the other issues that came out of the Trust Survey this morning was that the 62 richest people in the world now own as much as the bottom 3.5 billion. This is up from 388 people in 2010, and so the rich are getting a whole lot richer.

After that, it was off to Ian Goldin (a South African) who is a professor at Oxford University. He was one of the stars of the show, looking at the history of industrial revolutions. His thesis is that the Renaissance that happened in the 1700’s is being reflected in the changes that we are seeing in revolution of society today. Also, later today – Christine Lagarde. I got to listen to her talking about the immigration crisis. Some big lessons there for South Africa. I was able to sit in on Pravin Gordhan’s first press conference (I think probably the only one). It was half-an-hour where he came across as a little contrite I guess, for what South Africa’s been through but he did say that the country has learned from the crisis. It is now re-examining all of its fundamentals and indeed, will be going ahead in a better way.

The day closed off with Joe Biden, the Vice President of the United States of America who says that we’re at a stage in history where the world can choose to either go the way of other kinds of revolutions or indeed, inclusiveness, which will give everybody a share of the amazing growth opportunities that do come from technology. This is Alec Hogg in Davos.

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