Cablegate: Media Reaction - Davos Summit

VZCZCXYZ0006
RR RUEHWEB

DE RUEHSG #0090 0301926
ZNR UUUUU ZZH
R 301926Z JAN 08
FM AMEMBASSY SANTIAGO
TO SECSTATE WASHDC 2709

UNCLAS SANTIAGO 000090

SIPDIS

SIPDIS

STATE FOR R/MR, I/PP, WHA/BSC, WHA/PDA, WHA/EPSC

STATE FOR INR/IAA, PM, INL

E.O. 12958: N/A
TAGS: KMDR KPAO ECON OPRC CI
SUBJECT: MEDIA REACTION - DAVOS SUMMIT

1. On January 30, Chile's conservative, influential
newspaper-of-record "El Mercurio" (circ. 129,000) ran an editorial
entitled, "Uncertainty in Davos." Quotes follow:

2. "In the traditional annual World Economic Forum meeting in Davos
last week... one element stood out as a common denominator in all
the analysis: concern with the immediate future. The topic of
interest among experts and market actors focused on the impact that
this crisis will have on the level of economic activity in the
United States....

3. But the origin of the problem that is causing concern today
differs from that of previous crises. We can add that the disparity
in the strength of different groups of countries (Europe, Japan,
China, and emerging economies, in general) is less than in past
decades. Therefore, there is no concrete experience to predict the
effects of this crisis. We will have to wait and see how events
develop. From that viewpoint, the feeling of uncertainty before and
after Davos is fully justified."

SIMONS

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