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Singapore is in the lead: Germany is slipping significantly in terms of competitiveness

2019-10-09T05:31:19.008Z

TIME ONLINE | News, backgrounds and debates



Geneva (AP) - Germany paralyzes its competitiveness in comparison with other countries. In the new ranking list the Federal Republic falls from place 3 to place 7, as the World Economic Forum (WEF) reports.

Germany is overtaken by Hong Kong, the Netherlands, Switzerland and Japan. In the scramble for the first places Singapore has this time the nose in front of the USA. China is still ranked 28th in the 141 countries surveyed in the Global Competitiveness Report 2019 of the WEF Foundation.

Germany is particularly gloomy in information technology: Germany is in 72nd place for Internet connections via fiber-optic cable and 58th in mobile broadband connections.

In the innovation capacity category, however, Germany remains in the top spot. This concerns the number of registered patents or scientific publications. For macroeconomic stability, which assesses inflation and debt, there are also top notes. On the question of how well countries are adjusting to digital business models, only the top 20 of the 20 largest economies (G20) are among the top 10: the USA in first place, Germany in ninth place.

In the overall competitiveness index, the first countries are close to each other. Singapore comes in at 84.8 points out of 100, Germany 81.8. The average of all countries is 61 points. In it sees the WEF problems for the future. "The ditch in competitiveness is all the more worrying because the global economy is facing the prospect of a downturn," said the WEF. "The changing geopolitical situation and growing trade tensions are fueling uncertainties and could lead to a slowdown in the economy."

In the final ranks are the Congo, Yemen and Chad. The resource-rich Venezuela slipped 6 places due to the catastrophic economic situation and ends up in 133th place.

Source: zeit

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