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.

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.

 
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.

 
And they are right. Undoubtedly, a stable political and economic situation is decisive to grow, increase productivity and become competitive on the world market.

 
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.


 
  Competitiveness is the key  
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.

 
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.

 
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.