From rockstar economy to rock economy?

Bryce Wilkinson writes:

For more than three decades, the Swiss Institute for Management and Development (IMD) has compiled annual rankings of competitiveness for 63 of the world’s most important countries. It makes for sobering reading for New Zealanders.

Back in 2017, ranked #16 – ahead of at #21.

Five years on, has fallen to #31, while is now ranked #19.

A closer look reveals the factors behind ’s plummeting ranking.

Over the past few years, we have plunged in economic performance, falling from 22nd to 47th place. Government efficiency has also deteriorated markedly from 7th to 17th place.

That’s not a record for this government to feel proud of. And it gets worse.

Altogether, the IMD’s ranking comprises 25 subcategories. In eight of them, finds itself in the bottom half of all countries. And these are the categories that really matter: domestic economy, international trade and investment, inflation, productivity and efficiency, attitudes and values, and technological infrastructure.

The IMD noted going in the wrong direction on subsidies, inflation, tourism, brain drain, public finances, skilled labour, competent senior managers, and central bank policy.

It’s a depressingly long list.

Is there any plan beyond and spend?

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