Security is also very tight, aggravated by the crush. There are heavy lines and queuing, especially early in the morning. On the other hand, this is not surprising with 40 country leaders present, many with large convoys.

I participated in a “no way back” session on CNBC. There doesn’t seem to be too much understanding of the impact of the scale of public, government and hence taxpayer money on regulation and government interference. Protectionism may also raise its head, as a result. I am not sure on the basis of the conversation that the change in attitude to corporate responsibility will be sufficient to neuter or remove government intrusion.

The Chinese premier, on the other hand, was motivating and says we should look on the bright side. He worries about protectionism and free trade, and is keen that China should develop food self-sufficiency and security.

In his formal speech he emphasised that the year of the ox represented diligence, sacrifice and plenty. He outlined four programmes – a government spending and tax cut worth 4,000bn rmb or 16 per cent of GNP; frequent cuts of interest rates and financial support; industrial restructuring; and innovation in science and technology. He even mentioned the need for west to start saving.

He feels the Chinese economy is in good shape on the whole, with 9 per cent growth in 2008 and CPI stable. He’s full of confidence. Objectives are for a steady, fast economy; harmony and stability; and reform and co-operation on free-trade with reform of the international financial system.

The premier believes developing countries should be protected by developed countries and that there should be international co-operation on risks and regulation. His final vision was for a better world focussing on climate change and environment with peaceful, open and co-operative development.

The G20 looks set with positive signals for president Obama, despite Tim Geithner’s comments. The economy will turn from harsh winter to spring – 8 per cent growth for 2009. A tall order but the premier is confident. The Chinese financial system is good, having seen signs of recovery late last December. Prices are up, inventories down. Consumption is still up at 20 per cent, while there are massive savings of $4,600bn. The premier reiterated that prompt, forceful, targeted measures are needed.

He is committed to climate change and offered friendly messages to US. Thirty years of peaceful and harmonious growth in the G20 is in world’s interest. He offered co-operation over the crisis.

All-in-all impressive sessions – thoughtful, comprehensive, fact-based, and technocratic. State-directed capitalism seems to work and the premier reads Adam Smith. I wondered how many of his audience do.

Sir Martin Sorrell is chief executive of WPP, the advertising group

On the face of it, there seem to be more policywonks this year than CEOs. With 40 government heads here this year, maybe this is in effect a warm-up for the G20 in London in April. In addition to the British prime minister, the chancellor of the exchequer, the foreign secretary and the business minister are all scheduled to be here. The prime minister’s business session on Friday sadly collides with the annual British lunch. Hopefully he can pop in, as he did last year.

Seems to be a considerable concern about conspicuous consumption. Any actors or actresses here seem come from faster-growing markets such as India or China.

Apparently half of the Swiss government  (4 of their 7 bundesrat) met the Chinese premier at Zurich airport as he landed in his Air China 747. The 747 towers above most others parked on the runway, where there is considerable private plane activity. Security very tight, with police and dogs patrolling. The usual anti-globalisation demonstrations seem to have taken place in Geneva a few days ago rather than in Davos – at least so far. According to reports, they were very low key. We clearly haven’t been able to communicate the benefits of free-trade and globalisation very effectively. With the pound at SFr1.6, maybe I should be demonstrating.

Sir Martin Sorrell is chief executive of WPP

For the first time ever, after 20 or so years, all the four largest advertising and marketing services parent or holding companies are represented here. Perhaps a surprising fact – maybe some of us have just discovered the world. Although I’m sure a number of people will pull out at the last moment, due to the current economic pressures.

The political stars will be the leaders of China, Russia, Germany and the United Kingdom and ex-premiers of the United States and United Kingdom. The new, exciting Obama administration should have been represented by Larry Summers.

Tim Geithner, just ratified as Treasury Secretary, is also on the list. Others are back home focussed on job one – the economic crisis. Maybe they won’t make it – Valerie Jarrett, one of President Obama’s closest advisors will definitely be there.

As we are in the midst of the United States reporting season for 2008, a number of US-based ceos find it difficult to attend and the US constituency always tends to be less represented as a result.

The only year it was very strong was after 9/11 in New York in 2002, although New York offers more diversions and interruptions. Maybe a missed opportunity to base the WEF annual meeting in the United States in alternate years? In any event, Klaus Schwab, the visionary founder of Davos, has high hopes for his invention this year – hoping it will be a modern day Bretton Woods. Maybe a little ambitious. Bretton Woods lasted for a couple of years.

In any event I will be hoping to learn not only how we are going to surmount the short-term economic problems we face (which I am sure we will given the massive fiscal and monetary stimuli), but also, more importantly the long-term ones. How is Western Europe going to deal with long-term spending deficits and probably high inflation rates and interest rates?

Will the United States deal effectively with its economic crisis and the world’s biggest $14 trillion dollar economy recover, just like it did in the 1980s under President Reagan? Will the balance of economic power swing even further towards the east and the capital rich countries of Brazil, Russia, India and China and the next 11? Let’s hope there may be some answers or at least some guide posts.

In any event, the delegates are usually excessively polite and accessible. Generally unprotected by staff, they smile and engage, unwilling or unable to ski. After all I might be Lionel Barber or Robert Thomson in disguise.

To be fair there is no other gathering like Davos – a big opportunity to debate and learn – if not solve and sometimes, like last year, miss the world’s problems. Love it or hate it – it’s unique.

Sir Martin Sorrell is chief executive of WPP