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COMPETITIVENESS

Denmark up two spots in competitiveness ranking

The World Economic Forum ranks Denmark as the world's 13th most competitive nation - an improvement over last year but still far from the number three ranking just five years ago.

Denmark up two spots in competitiveness ranking
PM Helle Thorning-Schmidt and Aarhus Mayor Jacob Bundsgaard (right) visit a construction site at Aarhus's harbour in 2013. Photo: Flemming Krogh/Scanpix
Denmark moved up two spots on the World Economic Forum’s Global Competitiveness Report. 
 
Denmark took number 13 on the list, just above Taiwan and just below the United Arab Emirates. Scandinavian neighbours Sweden and Norway took 10th and 11th place respectively, while Germany took the number five spot. 
 
Although Denmark rose two spots in this year’s competitiveness report, it is still a far cry from just five years ago when the nation was number three. 
 
Hanne Shapiro is the director of the Center for Policy and Business Analysis at the Danish Technological Institute and was responsible for the Danish research in the competitiveness report. She said that that despite being ranked less competitive than its neighbours, things are looking up for Denmark. 
 
“It is a sign that the finances are better. It is particularly in areas like budget balance and credit rankings that we have improved,” she told Danmarks Radio. 
 
Denmark performed best in the category of technological readiness, where it was ranked number six. Its worst ranking was in market size, where Denmark came in at number 54. Denmark ranked 11th in both business sophistication and innovation.
 

 
The World Economic Forum (WEF) pointed to “uneven implementation of structural reforms” for the varying results of European nations. 
 
“In Europe, several countries that were severely hit by the economic crisis, such as Spain (35th), Portugal (36th) and Greece (81st), have made significant strides to improve the functioning of their markets and the allocation of productive resources. At the same time, some countries that continue to face major competitiveness challenges, such as France (23rd) and Italy (49th), appear not to have fully engaged in this process,” the WEF stated.
 
‘While the divide between a highly competitive North and a lagging South and East persists, a new outlook on the European competitiveness divide between countries implementing reforms and those that are not can now also be observed,” it continued. 
 
The full Global Competitiveness Report 2014-2015 can be seen here

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DAVOS

Switzerland: 2021 Davos summit shifted to Lucerne in May

The World Economic Forum announced Wednesday that its postponed 2021 Davos summit, themed as "The Great Reset" in the coronavirus crisis, will take place in Lucerne, Switzerland from May 18 to 21.

Switzerland: 2021 Davos summit shifted to Lucerne in May
Participants at the World Economic Forum at Davos in 2020. Photo: FABRICE COFFRINI / AFP

The annual gathering of the world's political, economic and business elite traditionally takes place in January against the idyllic snowy backdrop of the Swiss Alpine village of Davos.

But it was postponed due to the Covid-19 pandemic and, charged with remodelling the world economy in the wake of the crisis, will now be held 125 kilometres (75 miles) away in the plush Burgenstock resort overlooking Lake Lucerne.

“The meeting will take place as long as all conditions are in place to guarantee the health and safety of participants and the host community,” WEF spokesman Adrian Monck said in a statement.

“The meeting will focus on the solutions required to address the world's most pressing challenges. “Global leaders will come together to design a common recovery path, to shape 'The Great Reset' in the post-Covid-19 era and rebuild a more cohesive and sustainable society.”

Hybrid format

The WEF announced in June that the 51st edition of its annual meeting would take place in a hybrid format, then in August said it was being delayed for several months to reduce any risks to participants from the coronavirus pandemic.

The Lucerne summit will combine both in-person and virtual elements, with participants linked to a network of around 400 hubs worldwide to incorporate dialogue with the WEF's “young global shapers, to ensure openness and inclusion”, said Monck.

The summit will be preceded during the week of January 25 by digitally-convened high-level “Davos Dialogues”, when global leaders will share their views on the state of the world in 2021.

The novel coronavirus has killed more than 1.04 million people while at least 35.5 million infections have been recorded since the outbreak emerged in China late last year, according to a tally from official sources compiled by AFP.

The pandemic has also triggered a global economic downturn, though the International Monetary Fund said Tuesday that while it is far from over, it will not be as bad as originally feared thanks to a flood of government spending.

The World Trade Organization said likewise, forecasting a global trade contraction of 9.2 percent this year, rather than its previous “optimistic scenario” prediction of 12.9 percent.

But global trade will then grow by only 7.2 percent next year, rather than the previous 21.3-percent estimate issued in April, the WTO added.

Swiss cases rising

The WEF announcement comes as Switzerland announced Wednesday that daily coronavirus cases had jumped over the 1,000-mark for the first time since April 1, when the peak of the pandemic's initial wave began to recede.

Swiss Health Minister Alain Berset has urged the country to “get a grip” and be more rigorous in applying the basic measures to control the spread of the virus.

The 2020 edition of the WEF summit, hosted in January just as the world was beginning to become aware of the new coronavirus spreading in China, drew more than 50 heads of state and government to Davos.

It focused on themes of sustainability and finding a more inclusive model for capitalism. US President Donald Trump and Swedish teenage eco-warrior Greta Thunberg were among its top speakers.

The WEF said it aims to be back in Davos for 2022.

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