September 8, 2011 by staff
Global Competitiveness, The mainland of China progresses steadily in global competitiveness, while the U.S. continues the decline that began in 2008, according to the latest Global Competitiveness Report 2011-2012, World Economic Forum.
Emerging markets and developing economies, particularly in Asia, have experienced relatively strong economic growth, attracting increasing financial investment, the report said.
In the last five years, several economies in Asia and the Pacific – including mainland China, Indonesia, Vietnam and Sri Lanka – have taken important steps in the Global Competitiveness Index (GCI) rankings.
The mainland increased from the range last year to 26. He has improved every year since 2005, while Hong Kong has maintained its position of 11 ? and Taiwan remained stable at 13.
As the world’s most populous country, China still has an advantage of the BRIC countries by a significant margin. The other members are Brazil, 53, Russia 66, India, 56, and South Africa, 50.
The U.S., Japan and Europe continue to slow growth or deceleration, with high rates of unemployment and continued financial vulnerability, especially in some European economies.
The gross domestic product growth in advanced economies in 2011 is expected to remain at levels that, for most countries are not strong enough to reduce the rise in unemployment during a recession.
U.S. again stumbled in the GCI rankings, falling for the third consecutive year to the fifth position. While many structural features are making their very productive economy, growing a number of weaknesses have lowered the range of U.S. in recent years.
Top 10 this year is dominated by European countries. Switzerland tops the list, followed by Sweden 3, Finland 4, Germany, 6; the Netherlands, 7, and Denmark 8.
Singapore continues its upward trend to become the second most competitive economy in the world, ahead of Sweden, while the UK rounds of 10, as it recovers from the crisis.
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