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Who has the strongest economy in the world? A central question that concerns experts. And it has direct consequences for residents of the respective countries. Bad news first: The famous training center based in Lausanne VD, Switzerland, has lost one place in the IMD ranking compared to the previous year. The good news: Switzerland is still on the podium.
3rd place after Denmark and Ireland. reason for panic? NO. “Don’t worry, Switzerland doesn’t have to be afraid of it,” says study leader Arturo Bris, a professor at IMD. “Ireland is enjoying extraordinary circumstances. Switzerland remains very competitive. Just like other small economies».
The role of Credit Suisse
After the fuss surrounding today’s UBS subsidiary, Credit Suisse, the decline is not surprising. But to what extent did Credit Suisse’s decline play into the rankings survey? “Of course, Credit Suisse’s collapse was a problem in the survey of 6,400 executives,” says Christos Cabolis of the IMD World Competitiveness Center. But he puts it into perspective: “The event was not decisive. After all, 164 difficult criteria play as important a role in the ranking as the survey.»
The table shows the world’s top ten economies:
| one. | Denmark |
| 2. | Ireland |
| 3. | Switzerland |
| 4. | Singapore |
| 5. | Holland |
| 6. | Taiwan |
| 7. | Hong Kong |
| 8. | Sweden |
| 9. | United States of America |
| 10 | United Arab Emirates |
The current report impressively illustrates the growing gap between protectionist and open economies. “Political fragmentation is a result of the Corona crisis and the Ukrainian war. An important consequence of this is that more and more countries – such as Singapore, Saudi Arabia and India – are pursuing their own interests first,” says research leader Bris.
Climate change stays in the background
If you take a step back from the pure ranking, it becomes clear that the risks of a global recession or slowdown in the economy, inflationary pressures, and geopolitical conflicts now outweigh environmental concerns and concerns about climate change, according to the study’s authors. .
Return to Switzerland: Why is it still in third place? Thanks to their strong performance on all measured competitive factors. According to the research, it ranks first with the efficiency of the state and infrastructure. The firm ranks seventh (ranked fourth) in productivity and is improving in economic output (from 30 to 18). For one thing, this is good news.
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
