Journalists crowded into a Davos media lunch for George Soros, the billionaire financier, who had warned a year ago that the global financial system was heading for a bender. But he told me that even he didn't expect things to be so back. "I'm very worried we're still heading into the storm rather out of it.

    "Since last year we've lived through a remarkeable period in history where the global financial system that we used to take for granted has collapsed."

     More of my conversation with Soros later, but I am heading to the plenary hall to hear Chinese premier Wen Jiabao. Since the future of the global economy right now rests heavilly with the world's largest importer, the USA and its largest exporter, China, the hall will be packed. People will be waiting to hear about China's stimulus plan - in other words whether China will be encouraging its own people to save less and buy more from abroad.