What's Japan’s Ministry of Economy, Trade and Industry's (METI), then, come up with as a solution? Jumpstarting international interest in its other endeavors, of course — fashion, design, anime. And to put a little umph in its appeal, they named their latest campaign Cool Japan.

China's soft power is not only coming from official diplomatic channels. Its average citizens have also been ambassadors for the country. Wherever the Chinese diaspora land, much evidence, anecdotal as well as statistical, confirms that the Chinese tend to become productive members of society without the help of affirmative action.

If Mr. Xi can appear at ease in the informal atmosphere of a Lakers game, he may succeed where Mr. Hu failed in establishing a more friendly image in the U.S. to help counterbalance perceptions among many Americans of China as a military and commercial adversary.

At a time when the rest of the world marvels at – or perhaps dreads – China’s rise, Beijing perceives a serious weakness in its own armor: the lack of soft power. For all its economic woes, the West still possesses ample soft power as evidenced by its cultural domination. Behind China’s worries also lurk fears about regime stability.

China has launched a multi-million pound effort to improve its image around the world with the launch of a new global news TV station that it hopes will one day compete with global names such as the BBC, CNN and Al Jazeera. The new station 'CCTV America', has hired more than 60 international staff in a bid to produce credible programmes that will aim to give a voice to Beijing's view of the world.

In reading through various reports from Davos last week, I couldn’t help but wonder with all that power amassed – over 4500 attendees to include hundreds of heads of state and CEOs – and all the current crises compounding on the world’s stage, might something different result.

Language and educational exchanges have always been a defining feature of the U.S.-China relationship. Meet Jessica Beinecke, a Voice of America journalist who decided that she could leverage all the web 2.0 tools at her disposal to create a show that taught Chinese youth American slang.

In reading through various reports from Davos last week, I couldn’t help but wonder with all that power amassed – over 4500 attendees to include hundreds of heads of state and CEOs – and all the current crises compounding on the world’s stage, might something different result. Would there be any fresh thinking or radical action to come of such a gathering at such an auspicious time in world history.