World Economic Forum founder Klaus Schwab speaks with the associated press inside the congress center at Davos, Switzerland, Jan.25, 2010. financial reforms, climate talks and haiti's reconstruction are set to dominate the agenda of the world's elites heading up to the Swiss mountain resort of davos this week for their annual meeting. [CFP]

Hit by the worst financial crisis in decades, the international community needs to redesign the global governance structure to tide over the crisis in a bid to realize an overall and sustainable recovery of the world economy.

The world economy, troubled with a host of uncertain and unstable factors, is in a critical period of recovery. This recovery, however, still lacks a solid foundation and remains under the lingering effects of the financial crisis.

In the following several days, over 2,500 leaders from more than 90 countries and regions, representing business, government, civil society, academia and the media, are to attend the World Economic Forum (WEF) annual meeting in the Swiss skiing resort of Davos.

Under the theme "Improve the State of the World: Rethink, Redesign, Rebuild," the leaders are expected to work together to address pressing challenges and future risks, particularly the issue of global cooperation on governance of world agenda.

As Klaus Schwab, founder and executive chairman of the WEF, put it, "the present system of global cooperation is not working sufficiently."

"So we want to look at all issues on the global agenda in a systematic, integrated and strategic way, and we want to address in particular the issue of global cooperation," he said.