World Economic Forum (WEF) announced Indonesian competitiveness index dropped to 50 compared to other countries in the world from previously in the rank 45. The organization reported, Singapore is the nation closest to the competitiveness frontier.
Among large economies, the US ranks highest and continues to be an innovation powerhouse. Among the BRICS, China ranks highest. The lowest places in the rankings are occupied by African economies who have not yet crossed the halfway mark to the competitiveness frontier.
Based on the Global Competitiveness Report 2019 released yesterday (October 9), in the last 10 years saw global leaders take rapid action to mitigate the worst of the financial crisis, but this alone has not been enough to boost productivity growth.