It's hard to imagine Don Kramer, the good humoured vice chairman of ACE Limited, ever provoking much hostility.

But as one of 2000 delegates attending the 2002 World Economic Forum at Davos in January, he was recently "in the line of fire" of anti-globalisation and anti-war protesters.

They apparently view the likes of Mr. Kramer as "rich b******* who come to Davos for four days, talk about world problems for a day and a half and talk about how to get even richer for the rest."

It's a view strongly rejected by the convention, whose stated mission is to improve the condition of the world economy.

Mr. Kramer says that there was a heightened sense of urgency this year due to the impending prospect of war: "We are in the in the grips of crisis."

It seems that the protesters did not have much impact on Mr. Kramer and his fellow delegates: "They had protesters, but they never got anywhere near the place."

There was unprecedented security for the event which was attended by more than 20 heads of state including Colin Powell.

Swiss authorities spent more than $10 million on security at the ski resort, equivalent to $5000 per delegate. "To get in and out of our hotel every day we had to pass through a metal detector."

Sharing his impressions of the forum, Mr. Kramer says that there were extensive briefings about both Iraq and North Korea which afforded a rare opportunity to get a global perspective.

Representatives from China and South Korea, for example, had a unique viewpoint about the North Korean threat, says Mr. Kramer. "They said that this is just how North Korea negotiates". Mr. Kramer agrees that having previously met a delegation of North Koreans who wanted to do business with ACE, they certainly seem to march to the beat of a different drum.

In general, the briefings at Davos seem to have supported the US policy in Iraq. Mr. Kramer was struck by the views of certain Iraqi opponents of Saddam Hussein. It was encouraging, he says, to hear Iraqis talking about a post-Saddam era.

As an American, it was also interesting to hear how Colin Powell's presentation at Davos would answer opponents to war in Iraq.

He came away very impressed by the US secretary of state: "He was sensational. To those who contend that America is only in it for the oil, he said America's track record does not support accusations of colonialism. When we joined the Allies and liberated Europe, what did we ask for? Where is the proof of our colonialism? All we asked for was a plot of land to bury our dead and we went back and formulated the Marshall plan to rebuild Europe."

The other impressive person that Mr. Kramer mentions meeting was Michael Oxley of Sarbanes-Oxley fame. "He seemed pretty smart."

During conversations with the architects of the recent Sarbanes-Oxley regime, Mr. Kramer was able to express grave reservations about the proposed reforms to corporate governance reforms.

"He understands the collateral damage. He [Oxley was afraid that the US congress would enforce Sarbanes-Oxley too aggressively," says Mr. Kramer, adding that corporations like ACE are concerned that shifting too much power to boards may have a harmful effect on how companies operate. "Management is what drives progress. Boards tend to be risk averse and may frustrate entrepreneurial spirit," says Mr. Kramer.

As for the world economy, the prevailing view from economists at Davos is that the bubble has burst and a return to a bull market is not imminent.

"Some people say that we'll wait a few years and it will come back, but they don't have historical perspective," says Mr. Kramer.

"In 1966 I was working on Wall Street and we held a party because the Dow Jones index had regained its 1929 level."

Mr. Kramer's recollections of Davos do not entirely dispel the "rich b*******" accusation. Delegates came mainly from the top of companies and included "a lot of Wall Street types."

It is also a great networking opportunity for businessmen: "I mingled with Saudis, I traded cards with a whole lot of people including some people from the securities commission in Russia. If some day we decide to open in Russian, I know the guys in the regulatory body."

What shines through from Mr. Kramer's account of his experience at Davos, however, is that people from countries as diverse as Mongolia, Saudi Arabia, North Korea and China were making themselves understood. The universal language of business promotes a healthy form of engagement. As former President Clinton put it: "Just as democracy helps make the world safe for commerce, commerce helps make the world safe for democracy. It's a two way street."