On my previous visits, I told you of my hopes for a creative partnership between the United Nations and the private sector. And I stated quite frankly that, without your know-how and your resources, many of the objectives of the United Nations would remain elusive. Today, I am pleased to acknowledge that, in the past two years, our relationship has taken great strides. This year, I want to challenge you to join me in taking our relationship to a still higher level. I propose that you, the business leaders gathered in Davos, and we, the United Nations, initiate a global compact of shared values and principles, which will give a human face to the global market.
Globalization is a fact of life.
But I believe we have underestimated its fragility. The problem is this. The spread of markets outpaces the ability of societies and their political systems to adjust to them, let alone to guide the course they take. History teaches us that such an imbalance between the economic, social and political realms can never be sustained for very long. The industrialized countries learned that lesson in their bitter and costly encounter with the Great Depression.