Global competitiveness is described as the country’s ability to position itself in terms of organizations, strategies and all the parameters that govern a country’s productivity. It has a direct influence to a country’s economic growth since without being competitive a country can just remain stagnant in terms of economic growth (Lall, 2001).
I will compare and contrast the global competitiveness of Kenya that is in Africa and Singapore that is in Asia. Among the similarities Kenya shares with Singapore include;
• That they share common history in the sense that they were both set free by the British in the year 1963 that marked the start of their freedom
• They both had poor moments that left their citizen in bad states like living in slums and lacking basic requirements.
• They all have limited resources
• They had equal chances of committing to economic growth and development.
Despite all those similarities, today Singapore ranks the second in the global competitiveness index, a position maintained for 16 years while Kenya ranks the 90th a position no one knows whether she will improve or drop. Among the factors that have brought this discrepancy are as discussed below
Singapore boasts of well-formed and run transparent institutions with no corruption, while Kenya struggles with corrupt, bureaucratic systems which lack transparency. Kenya has had recurrent problems with her anticorruption officials who continuously face external pressures limiting them from dealing with corruption. This directly justifies the 90th rank (Porter, Sachs & Schwab, 2015).
The government of Singapore has given matters relating to business greatpriority and has committed to handling them transparently and doesn’t engage in cor...
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On the contrary, due to the poor infrastructure, bad systems, lack of government commitment and good policies Kenya doesn’t attract as many foreign direct investors like Singapore. This is because many investors wouldn’t like to be victims of poor systems. This explains why Kenya rank poorly compared to Singapore.
In conclusion, global competitiveness influences a country’s economic growth and its defined by its readiness as measured by the integrity of its institutions and effectiveness of its systems. Many factors influence global competitiveness and how well they are handled determines the attractiveness of a country to foreign investors(Schwab, 2010). Among the factors influencing the global competitiveness of a country include its institutions, infrastructure, innovation among others and it’s their variance across nations that determine its economic growth.
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