Competitiveness
in sentence
1286 examples of Competitiveness in a sentence
This is vital, because the more open an economy, the more the prices of internationally traded goods determine domestic inflation, thus making an independent exchange rate policy less necessary for influencing relative prices and
competitiveness.
The alternative is to capitalize on the unique opportunity that this year's devaluation of the peso offers by making the
competitiveness
gains last long enough to shift resources into the export sector.
Southern Europe has not done enough to enhance its competitiveness, while northern Europe has not done enough to boost demand.
There are legitimate concerns about the
competitiveness
of Europe’s agricultural sector, for example, and about the technical challenges of harmonizing a long list of norms and standards.
This pillar relies heavily on planning, large-scale fixed investment, and administrative controls, and its quality, scale, and relative efficiency were strategic to Chinese
competitiveness
and productivity.
Appreciation can harm competitiveness, while depreciation increases the cost of servicing foreign-currency debt, erodes market confidence, and leads to higher inflation.
The sovereign-debt crisis started with weak fiscal positions and doubts about the sustainability of public debts, combined with structural deficits that led to a loss in
competitiveness.
This chart shows increasing divergences over the last ten years, with the countries now facing difficulties (Greece, Portugal, and Spain) having lost
competitiveness
by around 20% relative to Germany.
The eurozone’s southern European members must reduce their wage costs to claw back the
competitiveness
that they have lost since adopting the common currency.
A key proposal from the task force’s first meeting was to develop
competitiveness
indicators, and then force member countries to take “remedial action” should the EU find large divergences.
Restoring
competitiveness
in some member countries (Spain, Greece) would require others (Germany in the first instance) to accept deterioration in theirs.
Even assuming that agreement can be found within the eurozone on how to allocate the desired gains and losses in
competitiveness
across countries, member countries are not centrally planned economies.
Even assuming that governments could identify and implement structural reforms that yielded quick productivity gains, it is not clear that higher productivity leads to increased
competitiveness.
Some of the countries that achieved the highest growth in labor productivity also lost the most
competitiveness
(e.g.
Most of the loss of
competitiveness
in southern Europe occurred once unemployment there had fallen significantly.
The measured loss of
competitiveness
in southern Europe thus should not be ascribed to a lack of structural reforms or unreasonable trade unions, but rather booms in domestic demand, fueled mainly by the easy availability of cheap credit for consumption (Greece) and construction (Spain, Ireland).
The proposition that governments “must do something about competitiveness” risks leading to an excessively activist approach to economic policy coordination, with governments and EU institutions constantly trying to influence wage-setting in the private sector.
This might work – at least partly – in the current crisis, but it will not be able to prevent future divergences in
competitiveness
if domestic demand diverges again.
Structural reforms are always useful, but increasing productivity takes a long time and does not always translate into higher
competitiveness.
Unsurprisingly, high payroll taxes strained the capacity of working people and mounting non-wage labor costs eroded companies' international
competitiveness.
But, while China has implemented policies to maximize the benefits of free trade (undervaluing its currency, investing in infrastructure, and luring foreign manufacturing to increase competitiveness), the country remains unprepared for deeper integration with the world.
Yet such changes are critical to improve governance and competitiveness, especially in the service, knowledge, and innovation-driven sectors that will underpin future economic growth.
If China is to avoid the deflation trap, revive investment, bolster competitiveness, and accelerate long-term growth, it must continue its quest to foster the animal spirits of innovation and entrepreneurship.
But these countries still need to gain
competitiveness
by lowering the relative price of their export goods, because they need to sustain external surpluses to correct accumulated imbalances.
With average inflation in the eurozone hovering near zero, these countries face a very uncomfortable choice between lack of
competitiveness
and even deeper domestic deflation.
However, as Malaysia engages with the global economy, these privileges may eventually be removed in order to heighten the country’s
competitiveness.
The country’s
competitiveness
problems are also well known.
Trump has accused China of intentionally devaluing the renminbi, in order to boost its export
competitiveness.
He has accused it of “raping” the United States with its trade policies, and of creating global warming as a “hoax” to undermine US
competitiveness.
Talent is now the key factor driving
competitiveness
(or the lack thereof) for companies and countries alike.
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