{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Business leaders expectations for 2012 broadly pessimistic' data-url='/boclips/videos/5c54c4dad8eafeecae16bd0c' data-video-url='/boclips/videos/5c54c4dad8eafeecae16bd0c' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nBusiness leaders expectations for 2012 broadly pessimistic\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003e1. Tracking shot of Klaus Schwab, World Economic Forum founder, walking with other officials2. Close-up of Schwab talking3. Mid of World Economic Forum logo4. Wide of Schwab sitting5. SOUNDBITE: (English) Klaus Schwab, World Economic...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003e1. Tracking shot of Klaus Schwab, World Economic Forum founder, walking with other officials\u003cbr/\u003e2. Close-up of Schwab talking\u003cbr/\u003e3. Mid of World Economic Forum logo\u003cbr/\u003e4. Wide of Schwab sitting\u003cbr/\u003e5. SOUNDBITE: (English) Klaus Schwab, World Economic Forum founder:\u003cbr/\u003e\"Markets have to serve society at the end and what we have seen with some of the excesses with the lack of inclusiveness in the capitalist system, I think we have to adapt, or re-balance maybe is a better word, our system and I add maybe capitalism is not even the right word to describe what is happening today. It's much more talentism because the most important resource is not any more capital, it's talents.\"\u003cbr/\u003e6. Tracking shot of Dennis Nally, Chairman, PricewaterhouseCoopers International Ltd (PwC), arriving for the interview\u003cbr/\u003e7. Pan across graph in PwC report\u003cbr/\u003e8. SOUNDBITE (English), Dennis Nally, Chairman, PricewaterhouseCoopers International Ltd:\u003cbr/\u003e\"There's a lot of clouds as we would describe them. Obviously the issue here in Europe with the debt crisis and how that is going to be resolved, what that really means. If you go to the US, clearly the issue with regard to the deficit, debt levels, uncertainty in Washington, lack of policy making if you will. But, in other parts of the world as well, the issues in the Middle East, the issues in North Korea. All of these are basically clouds on the horizon, and when you add them all up, it brings a degree of uncertainty which then translates into the lack of confidence. \"\u003cbr/\u003e9. Various of PwC report front cover\u003cbr/\u003e10. Close-up of Richard Edelman, CEO, Edelman public relations company, looking at computer screen\u003cbr/\u003e11. Close-up of keyboard\u003cbr/\u003e12. SOUNDBITE (English) Richard Edelman, CEO, Edelman public relations company:\u003cbr/\u003e\"Clearly the demise of trust in government. In 08-09 trust in government soared because it had to bail out business. But this year, because of corruption in India and Brazil, because of the stymied situation in the United States, as well as the continued travails in the eurozone, trust in government absolutely fell apart.\"\u003cbr/\u003e13. Mid of Trust Barometer report front cover \u003cbr/\u003e14. Mid of graph in report showing declining trust in government and business \u003cbr/\u003eThe founder of the World Economic Forum lamented excesses and \"lack of inclusiveness in the capitalist system\" on Tuesday.\u003cbr/\u003eKlaus Schwab, who was speaking ahead of the gathering of global VIPs in Davos, Switzerland, also urged that more attention be paid by leaders and governments alike to jobs, saying forum participants should focus on \"talentism\" instead of capitalism. \u003cbr/\u003e\"What we have seen with some of the excesses with the lack of inclusiveness in the capitalist system, I think we have to adapt, or re-balance maybe is a better word, our system,\" Schwab said.\u003cbr/\u003e\"Maybe capitalism is not even the right word to describe what is happening today. It's much more talentism because the most important resource is not any more capital, it's talents,\" he added.\u003cbr/\u003eMeanwhile, almost half of company chief executives are pessimistic about prospects for the global economy this year, according to a survey published on Tuesday.\u003cbr/\u003eConsulting firm Pricewaterhouse Coopers polled 1,258 CEOs around the world and found 48 percent believed the global economy would decline further in 2012.\u003cbr/\u003eSome 34 percent of respondents said they expected no change while just 15 percent predict an improvement this year. \u003cbr/\u003eThree percent were undecided.\u003cbr/\u003eAmong the biggest concerns cited by CEOs was the European debt crisis and its effect on the global economy, but Europe is not the only worry.\u003cbr/\u003e\"There's a lot of clouds as we would describe them,\" said Dennis Nally, Chairman, PricewaterhouseCoopers International.\u003cbr/\u003e\"We go to the US, the issue with regard to the deficit, debt levels, the uncertainty in Washington, lack of policy making if you will. But, in other parts of the world as well, the issues in the Middle East, the issues in North Korea,\" he added.\u003cbr/\u003eAll of these added together bring the uncertainty which translates into lack of confidence, Nally said.\u003cbr/\u003eThe findings come at a time when a separate report reveals that public trust in governments and business leaders has collapsed.\u003cbr/\u003eThe Edelman 'Trust Barometer' questioned 25,000 people across 25 countries. \u003cbr/\u003eIn 17 of the countries surveyed, less than half the population now trust the government to do what is right, the poll suggested.\u003cbr/\u003eIt was the steepest decline since the Barometer was established twelve years ago.\u003cbr/\u003eThe Brazilian government suffered a 53 point fall in public trust, Japan fell 26 points, and China was down 13 points - while in Europe, France, Spain and Italy all saw falls of more than ten points.\u003cbr/\u003eThe collapse was driven by a variety of factors, such as corruption in Brazil, the earthquake in Japan, and the European debt crisis. \u003cbr/\u003ePublic trust in the US and German governments remained stable. \u003cbr/\u003e\"In 08-09 trust in government soared because it had to bail out business, but this year, because of corruption in India and Brazil, because of the stymied situation in the United States, as well as the continued travails in the eurozone, trust in government absolutely fell apart,\" said Richard Edelman, CEO of the Edelman public relations firm. \u003cbr/\u003eOverall, Edelman said, some 60 per cent of people surveyed do not trust their government, and around 40 per cent do not trust their business leaders.\u003cbr/\u003eTrust in business fell three points globally.\u003cbr/\u003eSouth Korean companies suffered a 15-point fall in public trust, while in Spain, France and Germany, the falls were 21, 20 and 18 points respectively. \u003cbr/\u003eChina was the one country to see a substantial rise in business trust - up ten 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