IMD’s report about the World Economic Competitiveness provides a snapshot of how well economies in the global arena are competing with each other using points of measurement. However, it seems that the report is way too biased and that relevant information is somehow missing. Sure it is noted that the USA is considered a powerhouse economy but having a 100 point is something unusual considering the many economic problems the country is experiencing as well as the lingering recession. These dilemmas include but not limited to unemployment rates, major institution bankruptcies and concerns over national security. Personally, I do not agree with the report.
Another key characteristic of the report is that it is not that very credible when it comes to accommodating all the key economic players in the global economic composition. It is given that the report only covers 55 countries but it already misses some very good markets for evaluation like Vietnam which has good growth rates since 2004 (BizAsia, 2004), Saudi Arabia and UAE.
As indicated in the report, the following factors for measurement were considered; economic performance, government efficiency, business efficiency and infrastructure. These are all acceptable but these are all macroeconomic domains. The
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BizAsia, (2004). Vietnam’s Economic Growth Accelerates. Retrieved November 26, 2008, from BizAsia Web site: http://www.bizasia.com/asean_/c9wei/vietnams_economic_growth.htm