The World Economic Forum launched its “Global Competitiveness 2019 report”, presenting that the future is not so bright, but highlights that the countries with a holistic approach to socio-economic challenges are the ones developing more.
According tot the report, the global financial crisis impacts the world economy, which remains in a cycle of low or flat productivity growth despite the injection of more than $10 trillion by central banks. In comparison to 2018, when the US was the world’s most competitive economy, for year 2019, Singapore leads the way, with a score of 84.8. In the meantime, the US is second-placed, with Hong Kong following.
Singapore also leads the way as a top maritime centre, for a sixth year in a row, according to the International Shipping Centre Development (ISCD) Index 2019. As Lu Su Ling, Head of Baltic Exchange Asia noted
Singapore commands a strategic position as a maritime hub in the regional and global arena.
Specifically, the Top 10 economies are:
Each indicator, using a scale from 0 to 100, shows how close an economy is to the ideal state or “frontier” of competitiveness. The pillars, which cover broad socio-economic elements are: institutions, infrastructure, ICT adoption, macroeconomic stability, health, skills, product market, labour market, the financial system, market size, business dynamism and innovation capability.
Findings:
- Argentina remains low in ranking, being the 83rd, down two places, amongst the G20 countries.
- Asia Pacific is the most competitive region on a global scale, with Europe and North America following.
- US is in the second place, it still leads on business dynamism pillar, 2nd on innovation capability, and 1st for finding skilled employees.
- Nordic countries are in the world’s most technologically advanced, innovative and dynamic while also providing better living conditions and social protection.
- Denmark, Uruguay and Zimbabwe have increased their shares of renewable sources of energy significantly more than other countries at their respective levels of competitiveness.
- Economies such as South Korea, Japan and France, or increasing capability, like China, India and Brazil, must improve their talent base and the functioning of their labour markets.
In the meantime, the report highlights that there is still room for improvement in the technological sector; Only four G20 economies made it into the top 20: United States (1st), Germany (9th), Saudi Arabia (11th) and the United Kingdom (15th). China ranks 24th in this category.
Following Singapore’s development as a top maritime hub, SAFETY4SEA has announced its second Singapore Forum, on Thursday 14th of November 2019 at Marina Bay Sands Expo & Convention Center, Singapore, to gather major shipping players to discuss today’s hot topics.
The first SAFETY4SEA Singapore Conference, successfully concluded on 29th of November,2018 at the Peony Main Ballroom, Marina Bay Sands Expo & Convention Center, with the presence of 230 delegates from a total of 132 organizations, who focused on a variety of issues from the upcoming 2020 sulphur cap, to ballast and QHSE aspects, highlighting challenges and strategies for compliance.
The World Economic Forum reports that the world has already failed to meet any of the SDGs, as least developed countries have missed the target of 7% growth every year since 2015. After years of steady decline, hunger has increased and now affects 826 million – or one in nine people – up from 784 million in 2015. A total of 20% of Africa’s population is undernourished.
The “zero hunger” target will almost certainly be missed.
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