It’s that time of year again, and the World Economic Forum has once again released its Global Competitivness Index.
Russia dropped three places to #66 on the list, significantly worse than its position on the list of nations ranked by nominal GDP per capita (#56). Countries like Vietnam, Uruguay and Panama are all more economically competitive than Russia. The USA is #5 on the list.
Of course, you really don’t need the WEF to tell you Russia is not competitive. Just walk into the nearest store and see if you find any Russian products there. Should you find them, see if it’s something you’d consider buying. You’ll quickly see that in terms of consumer products the nation of Russia does not even really exist at all.