EDITORIAL: Non-Competitive Russia

EDITORIAL

Non-Competitive Russia

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.

EDITORIAL: Non-Competitive Russia

EDITORIAL

Non-Competitive Russia

China #27

India #51

Brazil #58

Russia #63

Once again, the World Economic Forum has found Russia to be bringing up the rear when surveyed for economic competitiveness and compared to the other nations in the so-called BRIC group.  At #63, Russia’s rating remained totally unchanged from last year, no increase in competitiveness whatsoever. Well outside even the top 50 world nations, Russia is languishing in a backwater that gives it absolutely no basis for inclusion in lofty assemblages like the G-8 and the Security Council.

Russia’s growth rate in the first quarter of 2011 was half that of India and China, and it has the highest corruption perception rating of any BRIC nation.