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Chinese purchases of US bonds in 2005, for example, are estimated to have risen as high as 2 percent of our GDP, a very significant proportion of America's foreign borrowing. At first sight, the channeling of Chinese savings into American bonds seems bizarre. The average American has an income of about $40,000 a year and has, as we have seen, a personal savings rate of zero. The average Chinese earns around $1,500 per year but has personal savings of 23 percent of his income -- and is lending a large chunk of these savings, via the People's Bank of China, to the average American.

Niall Ferguson, The Nation - Reasons to Worry, Time, 11 June 2006

THE EVIAN GROUP AT IMD
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Switzerland

The first meeting of The Evian Group was convened at the Hotel Royal in Evian-les-Bains (on the French side of Lake Léman) – hence the name of the Group – in April 1995. The rationale for convening the meeting was that globalisation – the interdependence of markets through cross-border flows of goods, capital, technology and labour – could not be expected to develop on auto-pilot, that strong institutions would be needed, and especially the WTO for upholding the rules-based multilateral trading system. Providing solid support and stimulation to the WTO would constructively contribute to laying far more solid foundations for globalisation and thereby a strong counter-force to the pressures of protectionism.

As the transformation of the world economy was also in its early throes, clearly measures of confidence building between North and South and between East and West were urgently needed. As the main vehicle for globalisation, the trade agenda should not be the sole preserve of negotiators, but also engage business leaders, policy makers and opinion leaders.

The Evian Group has evolved through an intense constellation of networks with global experts and partners institutions. Its “Brains Trust” is composed of over 100 independent experts truly representing diverse national and professional constituencies. The broader Evian Group coalition consists of some 10,000 persons coming from no less than 136 countries and is active on four continents: Africa, America, Asia and Europe.

The Evian Group has been active in all parts of the world and has convened or collaborated in convening forums on trade, investment and global governance issues in most regions of the world, including: Ukraine, Turkey, Netherlands, Belgium, UK, Egypt, South Africa, Kenya, Argentina, Brazil, US, China, Hong Kong, Taiwan, India, Pakistan, Bangladesh Korea, Japan and Australia.

Since 1995, The Evian Group has constantly been at the forefront of the global trade debate and its related challenges: governance, climate change, employment, gender issues, inequalities, poverty, migration, environment, water, education and health. It has developed strong collaboration ties with international foundations such as the Friedrich-Ebert Stiftung, the German Marshall Fund of the US, CUTS International as well as with the International Chamber of Commerce (ICC).

Since 1999 The Evian Group has been located at IMD, the world leading business school in Lausanne, Switzerland.