Korea’s national competitiveness surged to the world’s top 11th, up 12 notches from a year earlier, according to results of the World Economic Forum’s Global Competitiveness Report 2007~2008 announced on October 29.
According to the 2006 WEF’s Global Competitiveness Report, the nation’s ranking had fallen from 19th to 24th place, mainly due to undiminished regulations and bureaucracy as well as opaque corporate governance.
The nation’s turbulent labor-management relationship is notorious worldwide.
It was no longer news that ineffective, meddlesome government and unstable labor-management relationships had pulled down Korea’s international competitiveness.
The WEF report, and a similar ranking made by the International Institution for Management Development, are two sources for gauging global competitiveness.
The problem, however, is the inconsistency of their response; officials blow their own trumpets whenever the rankings go up.
Instead of being gladdened and saddened by turns with the annual ranking change, We need simply be aware of its advantages and disadvantages. It is because the meaning of statistics or reports can vary depending on consumers’ interpretation.
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