Canada slips a notch in global competitiveness ranking


mentalfloss
#1


Canada slips a notch in global competitiveness ranking

Canada has slipped a bit further down the rankings of the world’s most competitive economies, as the country’s lagging innovation puts it at a disadvantage to its international peers, the World Economic Forum (WEF) said.

The international economic foundation ranked Canada 15th out of 144 countries in its annual world competitiveness index, down one position from last year’s report. It was Canada’s lowest ranking since 2006 on the index, which scores economies on a wide range of criteria that contribute to competitiveness.

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Switzerland remains the top-ranked country in the index, followed by Singapore. The United States rose two places, to third, amid signs of improving innovation and strengthening of its institutional framework.

“The productivity level … determines the rates of return obtained by investments in an economy, which in turn are the fundamental drivers of its growth rates. In other words, a more competitive economy is one that is likely to grow faster over time,” the report said.

Canada’s 15th placing leaves it around the middle of the pack among developed countries – ahead of the likes of France, Australia and New Zealand, yet trailing much smaller advanced economies such as Singapore and Denmark. As recently as 2009, Canada ranked ninth in the WEF’s annual ratings, as its financial-system stability and relative economic health gave it a considerable competitive advantage over many of its badly wobbling global peers. But as the world’s economy and financial system has recovered, Canada’s position in the rankings has eroded.

Canada’s slipping competitive status highlights some of economists’ biggest long-term concerns about the Canadian economy: Underinvestment in innovation and technology that continues to hamper the country’s chronically sluggish productivity growth. WEF chief economist Jennifer Blanke said that while Canada has a solid foundation for fostering competitiveness – solid institutions and rule of law, strong health care and childhood education systems, a stable economy and reliable financial markets – it slips in the more sophisticated measures that separate the most competitive countries from the pack.

She pointed out that Canada’s private-sector spending on research and development ranks just 27th in the world, while university/industry collaboration on R&D ranks 19th. In government procurement of advanced technology – a key driver of technological innovation in the world’s most competitive economies – Canada ranks 48th. Businesses consider Canada’s regulatory structure overly burdensome (ranked 39th) and cite its government rules as discouraging foreign direct investment (ranked 52nd).

And Canada is slipping up at the higher levels of education and training – considered a critical building block for future innovation. While Canada’s primary school enrolment ranks second in the world, secondary enrolment is only 23rd, and post-secondary enrolment ranks only 45th.

“Structurally, we’re not doing as well at innovation as we need to,” said Daniel Musyka, president of the Conference Board of Canada, the WEF’s Canadian partner in the global study. “We’re not really mobilizing to become more competitive.”

“We’re doing adequately. As a small exporting nation, we need to do better.”

Sep 02, 18:00 The Globe and Mail

Canada slips a notch in global competitiveness ranking - The Globe and Mail
 
B00Mer
Republican
#2


Not all bad, we beat Denmark.
 
taxslave
No Party Affiliation
+2
#3
Depends on how you want to read the stats. On a GDP per capita basis we are quite a lot higher up the list.
 
IdRatherBeSkiing
+2
#4
It's probably due to Ontario being so f-u-c-k-e-d up. Will likely keep slipping for another 4 years.
 
mentalfloss
#5
Quote: Originally Posted by IdRatherBeSkiingView Post

It's probably due to Ontario being so f-u-c-k-e-d up. Will likely keep slipping for another 4 years.

Oh yes, clearly our value trodden economy, thrust at the core from a lack of investment in innovation and education is at it's source, coming from the territory with the greatest investment in innovation and education.
 
petros
+3
#6  Top Rated Post
Fix ON and it's entitlement attitude. Nobody owes you f-ck all.
 
Nuggler
+1
#7
Quote: Originally Posted by petrosView Post

Fix ON and it's entitlement attitude. Nobody owes you f-ck all.

Wynne says she's sorry the Hydro rates are way up............Is that a start ?

She can't understand why industry voted with their feet - quite a few years ago.
 
mentalfloss
#8
Quote: Originally Posted by petrosView Post

Fix ON and it's entitlement attitude. Nobody owes you f-ck all.

I think you mean Alberta.

It's addicted to oil subsidies.
 
Blackleaf
#9
The BBC says Britain has moved up one place to ninth in the global economic competitiveness rankings, the World Economic Forum (WEF) has said in its Global Competitiveness Report (external - login to view).

Each year, the WEF, best known for its annual Davos economic meeting, benchmarks countries against 12 factors, including infrastructure, education and training, labour market efficiency, technological readiness and innovation.

The UK's population is 64.1 million, not 63.2 million, Canada's GDP per capita is $44,656, and the US's GDP per capita is $54,980, much higher than Canada's.

So that table provided in this thread seems a little dubious, to say the least.

World Economic Forum: UK moves up global economic list: www.bbc.co.uk/news/business-29028714 (external - login to view)
Last edited by Blackleaf; 2 weeks ago at 05:52 AM..
 
mentalfloss
#10
Clearly the work of UKIP is behind this.
 
Blackleaf
#11
Quote: Originally Posted by mentalflossView Post

Clearly the work of UKIP is behind this.


If UKIP were in power we'd no longer be in the EUSSR. Europe is the only continent whose economy isn't growing. Brussels has Britain's economy in a straitjacket, preventing it from performing to its full potential. Despite that, Britain is still managing to outperform the rest of the EUSSR and every major developed economy. Now just imagine what Britain would achieve OUTSIDE the EUSSR. We are ninth in the global economic competitiveness table despite being a part of the world's most economically moribund organsiation. Outside the EUSSR we should shoot up that economic competitiveness table and probably top it.

Independence for Britain. For Ukip.
 
mentalfloss
#12
So when Britain is not an economic force to be reckoned with, it's a leftist disaster because UKIP isn't the governing party.

Gotcha.
 
Blackleaf
#13
Quote: Originally Posted by mentalflossView Post

So when Britain is not an economic force to be reckoned with, it's a leftist disaster because UKIP isn't the governing party.

Gotcha.


It wasn't Ukip who wrecked the economy between 1997 and 2010, and putting the country into huge debt by spending money we didn't have. It was the last Labour government.

Haven't you learned yet that the job of the Tories in Britain is to repair the economy after Labour have wrecked it? Thatcher had to that when she came to power in 1979. The 1970s were a dark decade for Britain economically. The economy was in the grip of Lefty Socialists and trades unions. The country ground to a halt due to incessant crippling strikes perpetrated by militant trades union leaders who could force all their workers tos top working whether those workers wanted it or not. Things go so bad that during the Winter of Discontent in 1978/79 even gravediggers and binmen went on strikes, leaving mountains of stinking rubbish piled up in streets and the dead going unburied. Thatcher had to come in in 1979 and she had to fix our economy that the Left had destroyed. Under her leadership we went from being the Sick Man of Europe to now having consistently the best economy in Europe and the Western developed world.

Then, in 2010, with Britain's economy yet again crippled under 13 years of Left wing rule (it was the Labour mob yet again like in the 1970s) and Britain suffering its worst recession since WWII as a result, the Tories under Cameron had to come in and, yet again, repair the damage. Now, after just four years of Tory rule, Britain has, once again, the best performing economy of the Western developed world.

That is why we musn't let Labour back in power again. With the two Eds - Miliband and Balls - at the helm it'll not be long before the economy goes back to rack and ruin. That is why it is dangerous to let Labour, and the Left, back in power in 2015. I hope, if the Tories have to form another coalition in 2015 like they had to do in 2010, they'll kick the Liberals out of office and form a new government with Ukip. A Tory/Ukip government the second-best government this country can hope for after a Ukip government.
 
mentalfloss
#14
News to me that Britain's economy was wrecked between 1997-2010.
 
Blackleaf
+1
#15
Quote: Originally Posted by mentalflossView Post

News to me that Britain's economy was wrecked between 1997-2010.


It wasn't news to the 64 million people who live here.

Thankfully, the Tories are in power now. Could do much better though - a Ukip Government. But a Tory/Ukip coalition from 2015 will do nicely.
 
mentalfloss
#16
So do you have any evidence to show there was a wrecked economy in that timeframe and that government policy was the direct cause?
 
Walter
#17
Guess they missed this.
Canadian economy expands at 3.1% pace in 2nd quarter - Business - CBC News
 
mentalfloss
#18
Hopefully that translates into full time jobs.
 
taxslave
No Party Affiliation
+1
#19
Quote: Originally Posted by mentalflossView Post

I think you mean Alberta.

It's addicted to oil subsidies.

When do the subsidies start?
 
petros
#20
Yeah no doubt but what he thinks are subsidies are tax credits that all businesses get which means all business is subsidized if going by mentally flawed thinking.
 
captain morgan
Bloc Québécois
#21
Quote: Originally Posted by NugglerView Post

Wynne says she's sorry the Hydro rates are way up............Is that a start ?

She can't understand why industry voted with their feet - quite a few years ago.

It's a mugs game bud.

Artificially low power rates (or anything) are paid-for on the back end through increased provincial tax rates.

Add in the notion that you now need another gvt dept to administer this process and those costs increase again

Quote: Originally Posted by mentalflossView Post

I think you mean Alberta.

It's addicted to oil subsidies.

We do love our Federal subsidies... Keep the armoured cars rolling west from Ottawa... I'll be waiting
 
darkbeaver
Republican
#22
Statistics make a thin stew.
 
Blackleaf
+1
#23
Quote: Originally Posted by mentalflossView Post

So do you have any evidence to show there was a wrecked economy in that timeframe and that government policy was the direct cause?

Where were you when Britain suffered the worst recession since the 1940s? Outer Mongolia?
 
Walter
+1
#24
Quote: Originally Posted by BlackleafView Post

Where were you when Britain suffered the worst recession since the 1940s? Outer Mongolia?

He's a teenager and has no sense of history.
 
Walter
#25
Guess they missed this, too.
Canada Posts Larger-than-Expected Trade Surplus in July - WSJ (external - login to view)
 
Blackleaf
#26
Quote: Originally Posted by WalterView Post

He's a teenager and has no sense of history.


I'm only 33, but if he's actually a teenager then he wouldn't have long been weaned off Farley's Rusks when the crisis began in 2008.
 

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