Sep 7, 2012

World Economic Forum turns its forensic gaze on competition

Under closer scrutiny, a WEF report on international competitiveness turns out to be the biased opinions of the world's business executives, write Bernard Keane and Glenn Dyer.

An economy that has kept growing for 21 years and managed to boost income and generally improve the well-being of its people at the same time, must have something going for it.

Indeed, according to IMF data, Australia (nominal GDP: just over $US1.488 trillion) is within $US5 billion or so of overtaking Spain ($US1.493 trillion) as the world’s 12th largest economy, despite Spain having more than twice our population. Spain’s economy is contracting and could fall by upwards of 2% this year, while Australia’s grew by 3.7% in the year to June. Growth here could dip to 3% or a bit below if the global economy continues to sag, but even that would see our economy grow to about $US1.530 trillion this year.

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2 thoughts on “World Economic Forum turns its forensic gaze on competition

  1. Gavin Moodie

    Thanx very much for this. I wondered about the report, but didn’t expect it would be this bad.

  2. izatso?

    look for plenty of irrational meme’s from the wef mob

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