5 trends in the global economy – and their implications for economic policymakers

The Global Competitiveness Report 2019 is a much-needed economic compass, building on 40 years of experience of benchmarking the drivers of long-term competitiveness and integrating the latest learnings about the factors of future productivity.

The Global Competitiveness Index 4.0 is organized into 12 pillars: institutions; infrastructure; ICT adoption; macroeconomic stability; health; skills; product market; labour market; financial system; market size; business dynamism; and innovation capability. The index has a scoring system ranging from 0 to 100, with the frontier (100) corresponding to the goal post for each indicator.

Singapore is the nation closest to the competitiveness frontier. Among large economies, the United States ranks highest and continues to be an innovation powerhouse. Among the BRICS, China ranks highest. The lowest places in the rankings are occupied by African economies who have not yet crossed the halfway mark to the competitiveness frontier.

The Index results and country scorecard are designed to help countries assess their performance against their own history as well as compare to others in their region or income group. However, the report also tells us more about developments in the global economy that policymakers, business and individuals must understand and proactively manage.

Συνέχεια ανάγνωσης εδώ: www.weforum.org/agenda