The global economic turmoil has made the mood at this year's World Economic Forum in Davos, Switzerland, markedly more subdued than in previous years. A survey by PricewaterhouseCoopers of 1,100 CEOs, presented at the forum, concludes that corporate leaders think the need for action to cope with the economic downturn is urgent. Only 21% of them were confident about increasing revenue during the next 12 months, a severe decline from the 50% a year ago.

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