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We
live in a more and more globalized world, where international
competition is constantly modified by increasingly rigorous
regulations. Our countries must work hard if they want
to compete. |
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Lots of countries, especially
the developing ones, make enormous efforts to remain
in – or to become a part of – this globalized
world. Some make it. Others do not. |
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Many of them are convinced that
the secret to national growth lies in defining a suitable
exchange rate system, finding a solution to financial
dilemmas, negotiating the national debt and modifying
many other macroeconomic policies. |
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And they are right. Undoubtedly,
a stable political and economic situation is decisive
to grow, increase productivity and become competitive
on the world market. |
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However, this is not enough.
A country that believes that resolving macroeconomic
issues is sufficient to solve critical aspects as growth,
poverty or unemployment is mistaken. |
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Competitiveness
is the key |
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In
order to sustain growth, a country must implement more
than consistent macroeconomic policies: countries require
investments in technology and innovation, know-how and
the active participation of the private sector. The
private sector is vital in this process, due to its
ability to respond rapidly to new demands and its great
capacity for innovation.
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Countries like
Ireland, Thailand, India, China, Indonesia, and Chile
– to name a few – are examples of how to
incorporate technology, knowledge and the necessary
tools to improve the quality of products and later export
them to the world. These countries have become competitive.
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Reduce poverty,
achieve social equality, eliminate insecurity and reduce
employment: all good intentions that cannot be achieved
without offering our countries the necessary tools and
giving our people the knowledge they need to compete
and be competitive.
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