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In the last decade, Davos and Porto Alegre have emerged as the twin cities of globalization. In Davos, the exclusive Swiss ski resort, the global elite of managers, statesmen and media personalities meets under heavy police protection, trying to convince us (and themselves) that globalization is its own best remedy. In the sub-tropical, Brazilian city of Porto Alegre, the counter-elite of the anti-globalization movement convenes, trying to convince us (and themselves) that capitalist globalization is not our fate, that, as their official slogan has it, “another world is possible.” Lately, however, the Porto Alegre reunions seem to have lost their impetus. Where did the bright stars of Porto Alegre go?