On September 4, 2013, Tavia Grant of The Globe and Mail detailed the World Economic Forum’s annual list of the most competitive nations in the world economy. This year Canada ranked fourteen on the list, the same place as last year. Switzerland, Singapore, Finland, Germany and the United States comprised the top five of the list. Canada is apparently doing well in education as well as in financial and labour markets, but not so well in the areas of innovation and business sophistication. According to the WEF, innovation and strong institutions are what it takes to achieve economic success in these trying times for the world economy. The economic experts say that Canada could boost its competitiveness by focusing on innovation, which would include things such as research and development and the use of advanced technology by the government.
The full article can be read here: http://www.theglobeandmail.com/report-on-business/economy/economy-lab/when-it-comes-to-competitiveness-canada-cant-compete/article14106216/