Davos Economic Forum concludes

Global economic uncertainties and development issues have dominated the five-day forum, which closed on Sunday in Davos, Switzerland.

The forum has left political and business leaders divided over the prospects for a slowdown in the United States' economy.

The World Economic Forum's Annual Meeting was clouded by mounting concerns over the US' economic outlook in the aftermath of its sub-prime mortgage crisis. Economists warn the world's biggest economy is heading for a recession.

The International Monetary Fund says it will update its economic forecast next week, and it's certain to have a lower growth figure for the US.

However, the US administration says the country's economy will remain a leading engine for global economic growth despite concerns about a possible recession.

Development-related issues, including the UN Millennium Development Goals or the MDGs, water crises, and climate change were also high on the agenda in Davos.

UN Secretary-General Ban Ki-moon issued a call on Friday to make 2008 the year to act on the MDGs with new ideas and approaches.

On climate change, Japanese Prime Minister Yasuo Fukuda put forward a "Cool Earth Promotion Program." It's a follow-up initiative from last year's "Cool earth 50" proposal which calls for halving global greenhouse gas emissions by 2050.

Key issues concerning peace and stability discussed at the forum included the Israeli-Palestinian conflict, and Iran's nuclear activities.

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