Pakistan slips to 107th on Global Competitiveness Index

Britain scored highly on diversity of workforce but still fell two places on the table of competitive economies

Britain scored highly on diversity of workforce but still fell two places on the table of competitive economies

The U.S.is back at the top of the global competitiveness league, according to the World Economic Forum, which praised the nation's entrepreneurial culture and financial system while noting its "weakening social fabric".

Taiwan's financial system also ranked in the top 10 with a 7th place finish.

The WEF's "Global Competitiveness Index 4.0" is something of a departure from previous editions of the annual report, in that it has slightly changed its name and updated its methodology in order to - in the report's own words - reflect "the changing nature of economic competitiveness in a world that is becoming increasingly transformed by new, digital technologies".

This year, WEF used a new methodology to fully capture the dynamics of the global economy in the Fourth Industrial Revolution; numerous factors that will have the greatest impact on driving future competition have never been the focus of major policy decisions in the past.

In last year's report Greece had appeared to be in 87th position among 135 countries, but the WEF has since updated its methodology, applying it in this year's report and adjusting last year's. With three countries ahead of Taiwan being the Western nations Germany, the United States and Switzerland, Taiwan took the top spot in Asia.

Switzerland was previously at number one in multiple WEF competitiveness reports.

In terms of innovation capability, India stood as the second best country while Pakistan followed far behind at the 7th rank.

WEF founder Klaus Schwab said understanding and being open to the technologies driving the so-called "fourth industrial revolution" was vital to a country's competitiveness.

For the World Economic Forum, "the existence of pockets of over- or under-performance within each region suggests that there is little determinism in competitiveness". The country also scored 51 in Health, 40 in Skills, 52 in product Market and 59 out of 100 in Labour Market.

"With opportunities for economic leapfrogging, diffusion of innovative ideas across borders and new forms of value creation, the Fourth Industrial Revolution can level the playing field for all economies".

The report also flags that although the U.S. is "closest" to the ideal state due to its vibrant entrepreneurial culture, relative stability and "very conducive" institutional framework, there is room for improvement. "It is possible to be pro-growth and inclusive at the same time".

Recommended News

  • President Trump Threatens Nightmare 1,500 Honduran Immigrants Marching to U.S.

    President Trump Threatens Nightmare 1,500 Honduran Immigrants Marching to U.S.

    Some have said they are fleeing gang violence, and are traveling as a group for protection from criminal gangs. President Trump warned Thursday he will "call up the U.S.
    Baby stabbed and baked in oven, MS  sheriff says

    Baby stabbed and baked in oven, MS sheriff says

    Mitchell didn't immediately return a phone call and an email seeking comment Tuesday. "That's hard to say", Williams said. A grandmother is being questioned after her dead granddaughter was found inside a heated oven in a MS town.
    Ariana Grande Breaks Silence on Pete Davidson Split

    Ariana Grande Breaks Silence on Pete Davidson Split

    She had also removed her $100,000 engagement ring, which she reportedly returned to Pete immediately after their split. Between them, Ariana and SNL comedian Pete have over 10 matching tattoos and individual tributes to each other.
  • Astros possibly caught cheating in ALCS Game 1

    Astros possibly caught cheating in ALCS Game 1

    He was watching their dugout to ensure they weren't stealing signs or doing something else nefarious. Making this catch even more incredible is the fact that the bases were loaded.
    Climate Change Could Lead To Global Beer Shortage

    Climate Change Could Lead To Global Beer Shortage

    Reuters reported that many companies realise the risks of climate change on barley, 17 percent of which is used to make beer. The beer: the future of luxury? "But some of us have a personal love of beer and thought this might be interesting".
    Adobe launches Premiere Rush CC for YouTubers on the go

    Adobe launches Premiere Rush CC for YouTubers on the go

    Premiere Rush CC is available for purchase with plan options ranging from $9.99 per month to $29.99 per month for enterprises. Basically, everything a social media influencer needs is within the app whether you're a rookie or a seasoned media producer.
  • Red Cross ‘heartbroken’ over killing of aid worker by Boko Haram

    Red Cross ‘heartbroken’ over killing of aid worker by Boko Haram

    Her employer, the International Committee for the Red Cross , ICRC, confirmed her execution on Tuesday afternoon after Mr. Similarly, the PFN, Lagos State Chapter, condemned the killing of the aid worker, describing it as barbaric.
    Dodgers even NLCS on Bellinger's 13th-inning hit

    Dodgers even NLCS on Bellinger's 13th-inning hit

    The Dodgers are 2-0 coming off a loss this postseason. "And putting everything else on the back burner as best I possibly can". Gonzalez gave up one run on two hits in one-plus inning, injuring himself while trying to field a Yasiel Puig infield single.

    Nick Bosa will focus on National Football League career, not return to Ohio State

    Nick Bosa has played his last snap as an Ohio State Buckeye, a decision that, John Bosa said, did not come easy. Instead, he intends to turn his focus to what was already his inevitable next step: the 2019 NFL Draft .
  • Google’s CEO Defends Potential Return to China

    Google’s CEO Defends Potential Return to China

    He said Google was committed to its values of freedom of expression and user privacy - but "we also follow the rule of law". Critics believe that Google chooses the big money from China and betrayed the "Don't be evil " own corporate moto.
    Coric upsets Federer, facing Djokovic in Shanghai final

    Coric upsets Federer, facing Djokovic in Shanghai final

    She did not appear overwhelmed appearing in her first final, despite saying she had woken up so nervous she could not eat. Yastremska is the sixth teenager to advance to a WTA final this year and the second to win a title.
    Trump says U.S.  needs Saudis in fight against terror, Iran

    Trump says U.S. needs Saudis in fight against terror, Iran

    The AP's Oval Office interview came not long after Trump spoke Tuesday with Saudi Crown Prince Mohammed bin Salman . Saudi authorities, meanwhile, have said Khashoggi left the consulate without being harmed shortly after he arrived.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.