Russia Climbs in Global Competitiveness Index

Galtero Lara
Octubre 17, 2018

Among countries in the Association of Southeast Asian Nations (ASEAN), Singapore remains the most competitive, followed by Malaysia, Thailand, and Indonesia, and the Philippines.

In terms of its ranking across specific pillars this year, Bangladesh was placed in the 108th position on the index for institution, 109th for infrastructure, 102nd for ICT adaptation, 88th for macroeconomic stability, 96th for health, 116th for skills, according to Global Competitiveness Report 2018 released on Wednesday. Likewise nor can we dismiss the efforts of the current administration: "if 70% of the report's weighting comes from hard data, the remaining 30% represents the views of America's business leaders: "if they are positive about America's competitiveness then their views will be very much based on the here and now", the Forum explained. Its central finding is that the new wave of digital technologies creating fresh policy challenges for governments runs the risk of impacting global growth and productivity in the near future.

"Open economies are more competitive". Each indicator uses a scale from 0 to 100, to signify how close an economy is to the ideal state or "frontier" of competitiveness. The top ten includes the Netherlands, Hong Kong, the U.K., Sweden, and Denmark.

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"This is the largest gain among all G20 economies", WEF said. "It ranks first overall in the world in three of our twelve pillars; business dynamism, labour markets and financial system".

"With this report, the World Economic Forum proposes an approach to assess how well countries are performing against this new criterion. Only those economies that recognize the importance of the Fourth Industrial Revolution will be able to expand opportunities for their people". The presidency of Donald Trump in the United States, as well as the UK's vote to leave the European Union, has threatened to drastically alter the status quo in worldwide trade in recent years. India was ranked 58th with a score of 62.0 in the latest Global Competitiveness Report.

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