Question

What do we mean by competitiveness?

Which is the most competitive country in the world? Why?

What country is surprisingly uncompetitive? (Think of a relatively rich country and then explain.)

How competitive is the United States and China?

Answer 1

According to the world economic forum (WEF) the competitiveness is defined as the set of policies, factors and the institutions that helps to raise the productivity level of a country.

On the basis of WEF's global competitiveness report of 2018-2019, the US is ranked as the most competitive country in economy. By considering the financial system, labor market and the business transactions , the US scored 85.6 out of 100.

Amoung the most competitive countrys the low ranked ones are the China and Russia. The China ranked 28th position and Russia ranked 43rd position.

The size of China's economy is large and it is the factor that mainly focus for China's global competitiveness. As compared to China, US is very small in economic size. But US ranked as higher than the China. Because, the financial and economic risk of China is increased by its continues credit growth. So it ranked as least as compared to US.