Davos 2014: WEF chief Klaus Schwab's welcome address

Business and global political leaders are heading for the Swiss ski resort of Davos for the 2014 World Economic Forum.

When it began in 1971, the Davos summit focused on European economic issues, but the agenda has grown to include wider global concerns.

In his welcome address on Tuesday, WEF Executive Chairman Klaus Schwab offered some advice to attendees.