This is CBS I and the World. I'm John Bachelors. Joseph Sternberg, my colleague, is in London,

but we're together in our imaginations. Heading to Switzerland to a village where I'm

told there's not snow as usual this time of winter time in Davos. The gathering of

Eagles and media representatives and leaders and speeches and prospects for 2023. It's been

catch-us-catch-can for the last two years of pandemic, but in person now there are exciting

events or not, because the question in front of all of us is, is globalization returning

to its healthy vigor before pandemic? And what does it mean that China is now reporting

a contraction in some fashion? Three percent growth is extremely low for my experience in

China. Also a shrinking population, the birth rate is less than the death rate and the general

question of trust in the Chinese business model, the business plan. The charm offensive

of these last days by Chinese officials is hard to believe. At the same time, the question

about China returning to business as usual seems far-fetched. So, Joe, I come to you immediately

about Davos. Davos is said to be the centerpiece of globalized success in the early part of

this century. What is it now, Joe? What does it mean? Is it old businesses, is it like

an alumni association remembering the good old days?

Well, I think at this point it's a little difficult to say what Davos says. I think that

it is sort of an attempt for the greeting good of the business world to get together

and mingle with each other and do that sort of networking and then also try to get proximity

to the government officials who often regulate these industries or threaten to. So, I mean,

I think that it has seemed for quite a long time that the main thing that gets accomplished

there is a lot of the networking behind the scenes rather than any of the discussions

or public panels or any of the rest of it that goes on. I mean, that being said, there

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