IMD World Competitiveness Booklet 2020

robust labor market and technological infrastructure.

Likewise, Canada’s rise is centered around improvements in measures related to its labor market and in the openness of its society. In addition, Canada shows a sharp increase in the effectiveness of its education system combined with a steady functioning of its health system, environmental protection and basic infrastructure. The UAE’s decline can be attributed to its display in measures related to productivity, management practices (e.g., corporate governance, board composition and the agility of the private sector), and in the effectiveness of its basic and technological infrastructure. In addition, the country has felt the impact of the worldwide slowdown in international trade. The USA experiences one of the largest declines in this year’s ranking, due mainly to the deterioration of the country’s international trade and public finances and declines in employment and labor market measures. Moreover, the USA’s performance in the societal framework remains low, and it experiences a decline in the effectiveness of its health system and in the protection of the environment.

Conversely, Hong Kong SAR’s drop to 5 th position comes on the back of a relatively deficient performance of its economy, employment and societal framework (e.g., indicators related to justice, political stability, and social and gender equality). The underlying strengths of the economy, however, remain in place. Sweden’s increase in the ranking is due to a robust display in international trade and productivity. It also shows a strong performance in business legislation, societal framework, attitudes and values (e.g., openness of society), the effectiveness of its health and education systems, and measures of environmental protection. Similarly, Norway’s improvement stems from its performance in productivity, its societal framework, the effectiveness of its basic infrastructure (e.g., management of cities and quality of air transportation), its health and education systems, and its protection of the environment.

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IMD WORLD COMPETITIVENESS BOOKLET 2020