He was speaking at a function titled “World Economic Forum 2017 (Responsive and Responsible Leadership) – Post Summit ‘Food for Thought’ for Bangladesh” in Dhaka on Monday.
University of Liberal Arts Bangladesh (ULAB) School of Business organised the event at the university auditorium.
ULAB Vice-Chancellor Prof Imran Rahman was also present. ULAB teachers, officials and students attended the function.
Debapriya, also a distinguished fellow of the think tank Centre for Policy Dialogue, said the consumer behaviour and trends are rapidly changing with diverse tastes and demands.
Consumers are now more aware of the origins of products and concerned about goods and service being environmentally friendly, business must strive to be more competitive.
He said: “As Saarc is in atrophy, we have moved for sub-regional cooperation like BBIN, BCIM and Bimstec. Connectivity is more important in the global world. Considering it, Bangladesh has focused on it.”
Criticising the current global leadership he said only “responsible leadership can address the global crisis.”
He said: “If we couldn’t bring any reform in market, marginalisation will continue, not only in Bangladesh, but in developed countries also, widening the gap further between rich and poor.”
But Debapriya emphasised that the emergence of a multipolar world can’t become an excuse for indecision and inaction, “which is why it is imperative that leaders respond collectively with credible actions to improve the state of the world.”
The World Economic Forum listed down five key challenges for business and technology leaders in 2017, like coming to grips with the fourth industrial revolution, building multi-stakeholder global-governance system, restoring global economic growth, reforming market capitalism and addressing pervasive crisis in identity.
Presenting significance of Davos he said it places economic and business excellence on the same platform, disregarding the country of origin.
Thus the Annual Meeting at Davos has been responsible for initiating high-level networking and new partnerships across the world.
Terming Davos meeting “The Money Oscars Meeting,” the economist said the WEF meeting 2017 was special in many accounts as the richest people getting together to discuss inequality in the world.
The purpose of the meeting was to have a discussion on Global Management Practices, to bring together key players in from the business, academia, arts and political realms.
In Global Economic Outlook in 2016, the International Monetary Fund stated that global growth was sub par at 3.1% in 2016, with slight increase to 3.4% next year.