Financial Crisis Sets Back Competitiveness Of The US And Other Nations Worldwide

ukIn the News (from IMD):Denmark finishes first in stress test on competitiveness, Unites States comes in 28th” The stress test is an analysis of which countries are better equipped to fare through the crisis and improve their competitiveness in the near future … Despite finishing first in the overall World Competitiveness Yearbook rankings, the United States finishes 28th, underlining the concern of the market with the depth of the crisis and the time that it will take to solve it.

Between the 18th and 30th positions comes the group of larger exporting nations led by China (18th), and which includes Taiwan (21st), Brazil (22nd), Germany (24th), Japan (26th) and Korea (29th). Ireland (25th) could have been higher in terms of resilience but the suddenness and the magnitude of the real estate and the financial crisis have probably taken the country aback.

The UK (34th) is in a disquieting position; just as is France (44th), Italy (47th) and Spain (50th), stressing how much the recovery in these countries may be hampered by structural rigidities.

Russia, in 51st position may not have had enough years of economic growth to consolidate the structure of its economy and to create the necessary buffer to cope with a crisis of this magnitude.

My Comment: Nature is swiftly pushing us to look for a solution, and the regular means won’t do the job. This is obvious to all the leaders, political and economic alike.

The solution lies on the social plane: we have to change the social relations. For the first time in history, this is possible, because, as the proverb says, “hunger drives the wolf out of the woods.” Any country that will accept the method of egoism’s correction from egoism to altruism (which must be done through education, not coercion) will set an example for the whole world.

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