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 Business News | May 2007 
Top Six LatAm Economies Slip
 El Universal
Geneva - Latin America´s six leading economies all lost ground in global competitiveness last year, Swiss business school IMD said in the latest edition of its annual survey.
For its World Competitiveness Yearbook 2007, the IMD used 323 criteria to rank 55 industrial economies in terms of economic performance, government efficiency, business efficiency and infrastructure.
The study found Chile is still Latin America´s most competitive economy, though it slipped two places, to 23rd overall, compared with 2005.
Trailing far behind Chile was Colombia, which fell three spots to 38th, according to the report that is compiled on the basis of both statistical and polling data.
Next in the standings at 47 was Mexico, which dropped two places overall but rose to third in Latin America. That higher regional ranking, however, was due to a decline of five spots by Brazil (49) rather than to Mexico´s stronger competitiveness.
Despite some real and specific competitive advantages, Argentina, Brazil and Mexico sooner or later will lose their reputation for competitiveness if they do not take steps to remedy their different problems, the report says.
Topping the IMD´s list are the United States, Singapore and Hong Kong.
The authors calculate that Chile´s economy is 68 percent as competitive as that of the United States. Using the same methodology, Colombia comes in at 56.8 percent, Mexico scores 45.3 percent, Brazil notches 44.7 percent, Argentina registers 43.3 percent and Venezuela 30.9 percent.
The IMD experts recommended that in 2007 Mexico include promoting structural changes in the tax, labor and energy spheres, as well as investing more in public infrastructure and reducing inter-urban logistical costs.
The experts also recommended that Mexican authorities stimulate the growth of domestic demand, improve the business climate and spur the creation of new companies by reducing red tape. |
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