*{The World's New Challenges following 11 September [http://www.weforum.org/site/knowledgenavigator.nsf/Content/The%20World's%20New%20Challenges%20following%2011%20September?open&topic_id=300250000&theme_id=300] 03.12.2001 India Economic Summit 2001} Introducing the session, Nik Gowing, Presenter, BBC World TV, said that this was a "brainstorming plenary," a format being tried for the first time by the World Economic Forum. The purpose of the session was to provide a Forum for "sharing ideas and moving things forward." Professor Klaus Schwab, Founder and President, World Economic Forum, opened the session by stating that in recent times two events have changed the course of history: the fall of the Berlin Wall and the 11 September attacks. The period following the fall of the Berlin Wall was marked by the domination of economics over politics. This gave rise to a global anger manifested in the emergence of anti-globalization movements of the 1990s. Another issue that fuelled the anger was the speed and complexity of change, especially technological change. The result was the loss of legitimacy for governments and global corporations. The events of 11 September, according to Schwab, ended this trend by bringing back governments to the forefront and by establishing the primacy of politics over economics. Bagher Asad, Ambassador of Iran to India, was of the view that 11 September had re-emphasized the need for "real" multi-lateralism and international cooperation. K. S. Rana, Former Ambassador of India to Germany, suggested that in developing countries government and politics never lost their importance. The real challenge in these countries has been "good governance." Gerardo Manuel Biritos, Ambassador of Argentina to India, wondered how ethics could be introduced to global discussions and how a "really global" dialogue on important issues such as Afghanistan could be promoted. Gowing, suggested that globalization was at times equated with colonialism and wondered how governments could address the issue of "perception versus reality" of globalization. Julio Faesler, Ambassador of Mexico to India, stated that globalization should not be looked at as the "high road to dominate markets." Taking all the questions raised by the participants, Schwab stated that the most important issue in the post-11 September era is "How to manage our future?" He informed that the Forum would seek to answer the question by promoting three principles: Principle of stakeholders, Principle of "Globalization of Globalization", Principle of Global Agenda. Schwab elaborated that "Davos in New York" would address 150 inter-related global issues. Four of these were: How to create and sustain economic growth, How to bridge the divides, How to share and respect values, How to address security issues. *{Contributors: Gowing Nik Schwab Klaus}