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Competitiveness: China on the rise, Italy and Germany are on a downward trend
June 12, 2019
Abstract : It has become ever-so easy for China, South Korea and the US to retain their positioning on the market and, in particular, to export their products on an international scale. Meanwhile Canada, France, Germany, Japan and Italy are doing decidedly worse than 10 years ago.
MILAN, Jun 10 (Class Editori) – It has become ever-so easy for China, South Korea and the US to retain their positioning on the market and, in particular, to export their products on an international scale. Meanwhile Canada, France, Germany, Japan and Italy are doing decidedly worse than 10 years ago.
The global crisis and the local recessions experienced between 2009 and 2019 have challenged their ability to compete against the major industrial countries in the world. Their competitiveness, measured against the manufacturing price index, went up almost 12 points for China, 10 for South Korea and over 13 for the US; on the other hand, it dropped by 8 points for Canada, by 9 for France, by 7 for Germany, by up to 16 point for Japan and by almost 7 points for Italy.
This data comes straight out of an analysis by the Unimpresa – an association for small and micro enterprises – research center regarding competitiveness in the world’s twelve most industrialized countries. According to the results, China is leading the charts. "The spread on price competitiveness for manufacturing products is affecting the Made in Italy sector far more than what it is doing to Italian public debt. The existing gap is growing bigger and bigger, and nothing is being done to reverse the trend," commented Giovanna Ferrara, the president of Unimpresa.
According to the analysis – run using the Bank of Italy data – China is the country with the highest competitiveness index (128.8 points) in regard to manufacturing production price, up 11.8 points against 2009 (117 points, and it was 124.3 in 2014).
Second place goes to Belgium, totaling 116.5 points – a fixed result (+0.2) against its 2009 index (115.3 points in 2014). The Netherlands are third, gathering 112.7 points, registering a small drop (-0.6) against the 113.3 points from 10 years ago (113.8 points in 2014).
Following, Spain with 107.6 points, losing -2.9 against the 110.5 from 2009 (108.8 in 2014). The competitiveness ranking continues then with the US, growing strong (+13.5) up to 104.2 points against the 90.7 from 2009 and 93.7 from 2014.
Meanwhile, Canada lost its place to the US, dropping from 2009 results of 111.4 to 102.9 (-8.5, while it registered 112.6 points in 2014). Italy positions below the 100 mark, losing 6.7 points between 2009 and 2019, moving from 103.5 to 96.8, and scoring the seventh position in the chart (99 points in 2014).
South Korea comes in eight position, shifting from the 81 points from 2009 to the 91.7 points in 2019 (94.9 in 2014). After that comes France, down 9.3 points and reaching 90.8 against the 100.1 from 2009 (94.6 points in 2014).
Germany's competitiveness index is on the drop as well, down 7.2 points from the 96.4 in 2009 all the way to 89.2 in 2019 (89.7 in 2014). Second to last place goes to the UK, growing up 1.2 point to 79.9 from the 78.7 in 2009 wasn’t enough to climb through the chart. Finally, Japan loses 16.3 points, reaching 64.1 from the 2009 results of 80.4 (62.8 in 2014).
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