The rapid economic development of China and India has had noticeable effects on the world economy. What does this sudden advance in globalization mean for Europe as a business location and for the labor, energy and financial markets? How are companies reacting to the new situation? What must economic policy accomplish in order to take advantage of the great opportunities arising from this development and to prevent its potential negative effects? Do we need more and better global governance? What does globalization mean for our democratic decision-making processes? We will look for answers to all of these burning questions at the Alpbach Economic Symposium 2006.