The Swiss-based World Economic Forum released its latest Global Competitiveness Report this week.
The report rated Switzerland as the world’s most competitive country for the seventh year. Next on the list were Singapore and the United States. Others among the top 10 were Germany, Netherlands, Japan, Hong Kong, Finland, Sweden, and Britain.
The report said countries need to accept the reforms needed to improve productivity. They also need to support entrepreneurs. If not, the report says the countries will be less competitive. It says promoting productivity is important for growth, and to lower unemployment.
Most countries report economic growth. But growth is weaker than before the 2008 financial crisis, the report says. The report warns developing countries which fail to compete enough will not be able to deal with future shocks to the world economy.
