Summary of The Global Competitiveness Report 2017–2018

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The Global Competitiveness Report 2017–2018 summary
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Despite global GDP at well below long-run historical averages, the world’s economies are showing signs of revival, growing faster than in the years since the global financial crisis. Yet populations across countries are questioning free markets as a source of economic progress, amid a confluence of globalization issues, economic distortions from technology, and rising wealth and income inequality. The World Economic Forum’s annual report assesses the shifting competitive stature of 137 economies relative to their peers. getAbstract recommends this robust offering to policy experts and executives for its detailed look at the global economy’s growth prospects.

In this summary, you will learn

  • What a competitive economic environment looks like in 2017 across 137 economies,
  • What obstacles are keeping countries from improving their productivity and GDP growth; and
  • Why policy efforts must focus on extending the reach of economic expansion to more citizens.
 

About the Author

Klaus Schwab is the founder and executive chairman of the World Economic Forum.

 

Summary

For national leaders, achieving stronger economic growth is paramount, but they must translate GDP expansion into “human-centric economic progress” that creates shared prosperity across populations. A competitive environment drives productivity and provides the engine for greater, faster and more sustainable output growth that can deliver improvements in education, health care and labor policies. Yet multiple factors associated with a thriving economic trajectory are lagging. Capital investment in many of the advanced economies has stalled; in the United States alone, net business investment, which averaged 4.8% from 1960 to 2000, plummeted to 2.8% in 2014. Since the financial crisis, total factor productivity has decreased in both the advanced and emerging economies. Countries must also contend with technological disruption and growing income inequality. And global trade is growing at a slower rate than GDP.

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