By , October 22, 2018 4:23 pm

According to World Economic Forum: “Even as globalization has led to unprecedented gains for many from the movement of goods, services, people and ideas, there are those who have lost out – economically, politically or culturally. This has in part contributed to the rise of polarized political debate and populist, nationalist and, at times, extremist agendas, both in the West and in emerging markets. Against this context of citizens’ concerns about jobs, inequality and globalization, policymakers are looking for new pathways to prosperity…”

As countries reset their path to competitiveness, there are ten key takeaways for all economies:

  1. Competitiveness is not a luxury good
  2. Investing in people is good for social and economic outcomes
  3. Embracing globalization in the 4IR goes beyond free trade
  4. But open economies must also embrace social protection
  5. Creating an innovation ecosystem goes well beyond research and development
  6. Technology offers a path to economic leapfrogging but only in combination with other factors
  7. Institutions still matter
  8. As do infrastructure and the financial system
  9. In a time of constant change, there is a need for constant agility
  10. Achieving equality, sustainability and growth together is possible – but needs proactive, far-sighted leadership

Full article at World Economic Forum:
10 things you – and your government – should know about competitiveness in the Fourth Industrial Revolution

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