The world's business and political elite are gathering in Davos - je 24.01.2008 08

The world's business and political elite are gathering in Davos, Switzerland, for the annual World Economic Forum. And the pessimists appear to be in the majority - given the events of the past week on financial markets. Several key economists arriving on Wednesday say they see a prolonged, deep recession underway in the US - which will no doubt affect the rest of the world. We have this report from Davos.