Davos feels the chill of global recession

Security is tight at the Swiss alpine resort of Davos where key business players and world leaders have gathered for the annual meeting of the World Economic Forum. The resort has been hosting the event since 1971 Photograph: Denis Balibouse/Reuters

An armed Swiss police officer patrols from the rooftop of a hotel at the World Economic Forum Photograph: Michel Euler/AP

The final touches are made to the Davos Congress Centre on the eve of the summit. The event, attended by 2,500 invited guests including a record 40 heads of state, began on Wednesday Photograph: Fabrice Coffrini/AFP/Getty Images

The Chinese premier, Wen Jiabao, listens to questions after addressing the forum. He insisted that the Chinese economy would grow by 8% and blamed America for the global economic crisis Photograph: Fabrice Coffrini/AFP/Getty Images

Pro-Tibet activists stage a demonstration in Davos on Wednesday against the Chinese premier's presence Photograph: Fabrice Coffrini/AFP/Getty Images

Davos attracts anti-capitalist protestors every year but demonstrators have been kept away from the main conference centre this year Photograph: Michael Buholzer/Reuters

The Russian prime minister, Vladimir Putin, speaking at the opening plenary session, was conciliatory towards the west Photograph: Pascal Lauener/Reuters

The president of Azerbaijan, Ilham Aliyev, awaits the start of a session Photograph: Virginia Mayo/AP

Soud Ba'alawy, the executive chairman of the Dubai Group, the investment arm of the emirate's ruler, Mohammed bin Rashid al Maktoum, attends a session at the World Economic Forum Photograph: Pascal Lauener/Reuters

Carlos Ghosn, the chief executive of Nissan, attends a session Photograph: Christian Hartmann/Reuters

A delegate has a coffee in the congress centre at the World Economic Forum Photograph: Fabrice Coffrini/AFP/Getty Images

Coffee at the congress centre, the main meeting point for the week Photograph: Fabrice Coffrini/AFP/Getty Images

The World Economic Forum was established to provide a platform to discuss global challenges. The logo, Committed the Improving the State of the World, seems even more relevant in 2009 Photograph: Fabrice Coffrini/AFP/Getty Images

A Swiss Army helicopter patrols Davos from above. The grey, troubled skies accurately reflect the sombre mood of the conference Photograph: Fabrice Coffrini/AFP/Getty Images