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Swiss Competitive Stress Test: India Ranks Higher Than Developed Nations In Navigating Financial Crisis

In Economy, India, Politics on May 21, 2009 at 10:13 am

The IMD World Competitiveness Yearbook for 2009 ranked India 13th among 57 countries in its ‘Stress Test on Competitiveness’ – an analysis of which countries are better equipped to fare through the financial crisis and improve their competitiveness in the near future. Denmark ranked #1, Germany #24, US #28, UK #34, and France #44

“Smaller economies are often more fit to adapt and rebound in difficult times,” stated Professor Stéphane Garelli, Director of the IMD World Competitiveness Center. “Another explanation is that several of these nations have already undergone quite severe financial and real estate crises in the not so distant past and may have been more cautious in their policies. Qatar and Chile also display advantages to confront the crisis.”

The methodology involved stress testing in four categories: key forecasts for the economy in 2009 and opinions assessing the attitude; readiness and  resilience of government; business; and society in confronting the future.

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