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>> with this a bad fit from the beginning since bolton and the president seemed to have a different takes on a lot of hotspots? >> it is difficult to get the right fit because he's coming up with a different strategy than we have had for the last 3 decades, the last 3 administrations. he is focusing more on the strategic competition with china and less about being interventionist all around, tried to pull back from afghanistan and iraq, had a hard time with the national security establishment doing that so he's trying to find the right fit. is going to be tough in this town because a lot of pe...

Are we post crisis, post talking about double dip recessions or are we still muddling through? >> reporter: no, i think you're all of those things and more. the theme of davos is the complexity of the issue. two years ago it was get out of the mess. last year it's what would the rebuild look like. this year it's china with fast growth, but inflation. the uk heading towards stagflation. the rest of europe, low growth. the united states with a budget deficit and a state of the union and questions about investment and austerity. it's the balancing act between east and west, north and south, post ...

About rethinking, redesigning and rebuilding. so far, so good. 12 months on, it's time to review how far we've actually come. and crucially asking ourselves the question -- what are the norms for the new reality? it was a question for the forum's founder, klaus schwab. could he explain the theme this year for the new reality? >> it's simple. we're living in a completely reality. the first meeting of the 21st century. and during the first, the world has completely changed. and what we need is all the new shared values to deal with this new reality. >> but what is that reality? >> yeah. it's cle...