Latin America not competitive?

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Imd_logo1The World Competitiveness Yearbook, which mixes statistical indicators and perception surveys ranking 55 countries on their competitiveness, was released last week. Published annually since 1989, this year's report includes predictions of the role that commodities, corporate taxation, and the emergence of the middleclass will have on the future competitiveness of countries.

While the U.S. ranked first, all major Latin American countries, with the exception of Chile and Colombia, slipped this year. Corruption, excessive red-tape, poor infrastructure, and health and education services were key grounds for lowering countries' competitiveness score.

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