Australia faces a productivity and competitiveness crisis, according to many economists, business leaders and op-ed writers. They even point to global competitiveness scores to illustrate their point.
“Australia’s sluggish productivity, poor levels of entrepreneurship and high-profile cyber hacks have taken their toll in the latest ranking of global competitiveness, as experts suggest countries including Switzerland and Singapore could offer lessons for our economy,” the Financial Review reported in June 2023, citing that year’s “International Institute for Management Development World Competitiveness Yearbook”.
The IMD index is one of a slew of international comparisons purporting to measure how competitive, productive or innovative various countries or regions are.
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