INSEAD Blog by Zanat0s the INSEAD(er) @ Tokyo ! The Biggest among INSEAD MBA blogs. Insead is over, blogging not.

The rising importance of Education... By Zanat0s

 

The case for more open-liberal markets

 

Many Europeans(especially Greeks-unfortunately) believe liberal economic reforms are incompatible with social justice. The Anglo saxon countries, they purport, have more liberal(deregulated) markets which result in higher levels of poverty and inequality. There are 2 choices: Free their economies(anathema to the left) and accept the downsides or they can resist the only way to go forward. They call this model the Anglo-American neo-liberalism(can’t they come up with something simpler?).

 

I would like to quote Mr. Churchill here : The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of misery.

 

Before I continue let me say that inequality will always exist. You cannot have rich people otherwise. The issue is how to let people get more opportunities? One way is to letting the ones at the bottom of the pyramid with a viable way to the top, not by keeping everybody down.

 

There is no evidence whatsoever that liberalization contributes to social inequalities. The link between amount of liberalization and social outcomes is weak at its best. This pattern should be the same across the EU and not within a select group of countries.

 

Can this pattern be detected. The answer is crystal clear; NO! Well let me go throught the data. Which is the country with the lowest income inequality and at the same highest employment? Look north and you shall see; Denmark. Denmark offers a mix with quite liberal employment laws and open competition. On the other hand who are the champions of the worst social outcomes? Look South and you shall see! The dynamic(or should I say sclerotic) trio: Greece, Italy and Portugal. All three of them offer a complex web of arrangements and protected jobs. Try to fire somebody at Greece and probably you will find yourself at the court trying to justify his dismissal. One rational(rational means having the mental capacity to think and to be articulate) human being may discern that Liberalisation of an economy, bring ,instead of impairing social justice. Regulation is the real culprit.

 

If that is the case then what is the magic pill that boost countries and their economies? If I was in a classroom, a leftie would probably raise his/her hand and argue that high social spending/taxes is a must. Well the left’s instincts have never proved correct before(look at communism). TO be honest social spending is high in the egalitarian countries(Nordic) but it is more or less the same in countries like France and Greece. The Netherlands too have a big state. The UK the “European bastion of liberalism” is a place where the state is actually big.

 

Go back to the Nordic states and look elsewhere. Where should you look? If  you are an avid reader of my blog you should have known the answer by now… The answer lies at the heart of every country’s culture: Education. EDUCATION, EDUCATION and again EDUCATION.  The Nordic countries offer the best education. This is where the correlation is hidden; education and social outcomes. Low level of education or bad quality of education not only produce more irrational people(people without the ability to have a critical mind) but also increase the risk of poverty. Also better education increases employment opportunities.

 

Another leftie may say that education is provided by the state in those countries and education is too important to be left to individuals or private operators. Well wrong again. The Nordic educational systems are one of the most liberated in the world. The public school system emphasizes quality above all. Students in Nordic countries do not learn to memorize equations or texts( as greek and Italian students) but learn how to use their mind. The mind is a muscle it has to be exercised daily at least.

 

The UK has some of the best universities right? What is wrong? The public spending is 6 % around the EU average. The results at secondary education are disappointing. Well according to the FT 1 out of 4 children leave school before they graduate. The UK’s inequality has nothing to do with the privatization of the rail system or the phone operators but with the drop out rates from upper secondary education.

 

When I was 17 my math teacher taught me and my classmate an axiom(a proposition that is not proved or demonstrated but considered to be self-evident. Therefore, its truth is taken for granted, and serves as a starting point for deducing and inferring other truths.). “Stupidity is invincible”.  There is no way to beat stupidity as an ideology. The solution? Studying and opening your mind.

 

Ancient Greek(and not only them) realized that a thriving society needs an education- friendly environment to foster as a nation- and foster they did. Education has long been an important determinant of countries’ wealth and wealth being.  As China and India become more a part of the world economy and the division of labor proceeds the competition will increase. The only way to compete is with minds, open minds. Underperforming education systems will be the final tombstone…

 

I am an ardent believer of education and my heart bleeds when I see people desotrying the only way to go forward. More about this in my next posting.

The Mallies Guide joins the Zanatos force

First things first, thank you Zanatos. It’s an honour to be a guest writer on your blog. Your blog has been a source of inspiration and knowledge for me as I pursue the exhilarating journey to a B School. I join you in the middle of my journey - the GMAT, the applications, the admit (hopefully) and the in school experience – classes, recruitment, star professors and parties.

Zanatos, take a bow :)

M

malliesguide@gmail.com

Tribute to Saint Lauren

The Fashion designer who gave rise to the Female Executive,

 

This has nothing to do with either MBA or Japan but a tribute is required. Fashion is important. Appearances shape our judgments. We judge people on what they wear. Even if we do not admit we get influenced by how the people look around us.

 

I implore you, the reader, if you are at your office look around you. Look at the women. What are they wearing? Most probably if you work in a corporation they will be wearing a Pantsuit(unless you are in Japan where most office ladies were still skirts). One name should spring to mind: Yves Saint Laurent. He revolutionized the lives of working women with the trouser suit.

 

Many women( Clinton one of them) has ample reasons to thank Mr. Saint Laurent – and the rest of the designers who followed him, like Liz Claiborne. The pantsuit let women rise to the same level as male professionals. 40 years after the introduction of the pantsuit, one may not remember the days during the sartorial division between the sexes at work. I for one learnt it through the newspapers. Back then women were dressed in skirts and dresses.

 

Saint Laurent’s ended that era, or one should say he did his part at least. The introduction of Jackets and trousers for women showed to everybody that women can do business like men can(remember appearances are important). Mrs Claiborne continued the liberation by providing women with affordable office wear. Fashion Matters. Mr Saint Laurent caught up on the change, the society was changing. As a matter of fact I used the word revolution. It wasn’t by accident. 1968 the year of social uproar, more liberty and etc, was the year Mr. Laurent suggest trousers can and ought to be worn by women.

 

I read online on a blog about Mad Men, a series about an Advertising agency in New York in the 1960s. In that series one can find vestiges of the old era, where women were not treated very “fairly”. Men were running things and women were there and just dressed, what we in Greek call glastres( plants).

 

Who knows? Maybe Yves, was just lucky, maybe he thought about it as a new revenues for income or he just jumped on the wagon at the right time. No matter what he got it right. He helped women transcend gender at workplace when it was still difficult for them. One should not discount the role of fashion very cheaply. I am a male but I came from a family with a strong female in the corporate world. Maybe, maybe without Mr. Yves she wouldn’t have the opportunity to excel.

 

Thank you Mr. Saint Laurent this blog post is devoted to you.

Zanat0s out!

Rat race for MBA......

www.inseadblogger.com I started this blog during my MBA @ INSEAD in 2006 and i thought i was a good idea to keep everybody uptodate. 1.5 years later it still goes on but with a different twist. i have met many people through y blog who are interested in an MBA one way in another. The mails i receive are more alike the same: Name, age, profession, nationality, years of experience and function. The questions pertain whether they are good enough for an MBA. They ask for interview advices and sometimes essay help. Well last week while in Vietnam a surprise email was waiting for me. It was a quite long email written in a structured way with clear eludicity. The author though startled me. He/She was 17 years old and wanted to know what they should do while in undergrad in order to get an MBA at the age of 24. 18-22 undergraduate at financial engineering, 22 to 23 master in hedge funds( or something similar) 23 to 24 a year abroad working in a bank or a fund and then an MBA. At the same asked if a CFA was doable after 21 and last but not least what languages to learn. you can understand now my beddazlement. A high school student, who will enroll at Princetopn this fall, had already a life plan. Is life a rat race? I mean i read an article about undergraduates creating investment clubs un order to improve their cvs and chances to get hired. whoah how have times changed. Even some years ago being an undergraduate was the first brush with freedom and independence, a different look at life. Yes it was about furthering and increasing one's mental capabilities and critical way of thinking, but fun was an integral part of the package. Will we stop hearing the phrase : *my student years were the best of my life*. life is a rat race, yes i agree. For every person who succeeds there are at least 99 who don't. But the rat race in most western countries was confined to the workplace and one' s contribution there. Academic places were based on socratic principle that they should foster knowledge creation and knowledge creators. if you bring competition in the sanctuary of knowledge it will infest every part of the chain. even the kindergartens. Look at singapore, people lives and choices are determined on how they do at exams in high school and in the university. a B instead of an A can be a completely different life. on top of that there is not a strong correlation between academics successes and business ones. look at S.Korea now. The sponsor of the rat race. children there face extreme pressure in regards to academics. The exams in Korea destroy families sometimes. Many koreans to shield their children from the ultra-unhealthy environment, send their families to the philippines. south Korea is the world's second country when it comes to suicides( the first is Japan). but if you look at age brackets, Korea dominates the youth league... Well as for me i decided to do an MBA when i was 21, not 17. once we start lowering the bar there will be no stopping. am i overreacting? time will tell.

Shinkansen

www.inseadblogger.com Well for once i am on the train instead of the airplane. my second trip within Japan, once again for work. Looking outside the window my mind starts to travel, random thoughts about my life, my experience in tokyo, my next steps, my accomplishments. I look at the landscape. It reminds me that those trees and buildings were, are and will continue to be(bar a disaster) long after me, you and everybody else goes. Memento mori, do u know what it means? Kings used to have a dead skull in front of them to remind them their own mortality. The speed of the train, can be compared to the frentic rhythm life has taken. everything gets accelerated. Pace of change increases with geometric rates but humans abilities to cope with those changes increase only according to arithmetic rates. we strive for morwe and more speed, quicker and more efficient. Why? We live in times of change. why do we need to be faster? everybody tells me time is not enough everyboy is so connected with each other but humans have never been so alone. i am blogging on the train now through my smartphone( want to upgrade to the sony experia when it is out) instead of having a conversation with my colleague next to me. Well to be honest he is sleeping.... now he woke up and he is going through my article. People use social networks online to meet people they have never met before. they *accumulate* connections which most of the time are shallow and superficial. well loneliness some time is a gift. it helps people spend time on themselves and improve their skills and abilities, their health too. the constant bombarding of messages and socialinteractions, i believe, has eroded humans to acquire new abilities and at the same focus on the important issues. who can focus now? who can meditate now? i have seen many people with a short attention span or with a difficulty to synthesize abstract concepts. Thank you mon for taking me to yoga and meditation classes when i were 8(although i hated it then). i reap the benefits now. Back to the rate of change. I check my personal email every night and i reply to every email personally. Most of the emails are from business people thinking of getting an MBA. They send me their profile and ask me for advice, more about this in the next blog post. time to close the current one. Life is like a train trip. There is a start and a finish. Our memmories are the landscape we look at. once we pass a landscape it becomes a past event, a memmory. the train has stops and other services, but it always reaches its destination and it is always on time(well at least in most countries). I love blogging because i can put my eelings into words. well i wish i had more time to do that. last sunday i bought a voice recorder to facilitate the task of keeping notes. In the end I will write a book, who knows...

2 presidents...

History mystery

Have a history teacher explain this----- if they can.

Abraham Lincoln was elected to Congress in 1846.
John F. Kennedy was elected to Congress in 1946.

Abraham Lincoln was elected President in 1860
John F. Kennedy was elected President in 1960.

Both were particularly concerned with civil rights.
Both wives lost their children while living in the White House.

Both Presidents were shot on a Friday.
Both Presidents were shot in the head.

Now it gets really weird.

Lincoln 's secretary was named Kennedy.
Kennedy's Secretary was named Lincoln .

Both were assassinated by Southerners.
Both were succeeded by Southerners named Johnson.

Andrew Johnson, who succeeded Lincoln , was born in 1808.
Lyndon Johnson, who succeeded Kennedy, was born in 1908.

John Wilkes Booth, who assassinated Lincoln , was born in 1839.
Lee Harvey Oswald, who assassinated Kennedy, was born in 1939

Both assassins were known by their three names.
Both names are composed of fifteen letters.

Now hang on to your seat.

Lincoln was shot at the theater named 'Ford.'
Kennedy was shot in a car called ' Lincoln ' made by 'Ford.'

Lincoln was shot in a theater and his assassin ran and hid in a warehouse.
Kennedy was shot from a warehouse and his assassin ran and hid in a theater.

Booth and Oswald were assassinated before their trials.

And here's the kicker...

A week before Lincoln was shot, he was in Monroe , Maryland
A week before Kennedy was shot, he was with Marilyn Monroe.

Creepy huh?

Good reasons to do an MBA

Well i am not getting emails from readers.. WHy? Because i am not blogging. Blogging during INSEAD and blogging after INSead are two completely different experiences.

WHy? Due to work and other important factors. Blogging is  good way to "kill" time or use some spare time, but what to do when there is no spare time? One can go through INSEAD students' blogs(the best one at this time belongs to necromonger an indian turned consultant) and see the spikes and lows during his INSEAD time. 

My work and private life have taken a toll on my blogging ability. Therefore zanat0s has succumbed to writing irrelevant posts and finding on the internet for his next inspiration. One good inspiration has to do with the benefits of an MBA:

http://www.mba.com/mba/AssessCareersAndTheMBA/TheValueoftheMBA/EvaluatingTheInvestment/AssesstheROI.htm

read the above link or if you can not access it read the article below

Assess the R.O.I. (Return on Investment)
	Graduate school is one of the biggest investments you will ever make in yourself. Before you commit to going for an MBA, one of the important questions you'll want to answer for yourself is, How much return will I get on my investment? We recently asked graduating MBAs of the class of 2006 to compare the overall value of their MBA degree with the cost of earning it. The overwhelming majority were very positive about the value of the degree, rating it outstanding or excellent. One way to improve the chances that you will assess the value of your degree similarly is to do a good job of weighing the relative costs and benefits of the degree up front. You should only begin to think about the costs and benefits of your degree after you have determined that an MBA degree will help you attain your goals. That is, before you calculate the costs and the return on your business school investment, do some self-assessment to determine what industries and job functions fit your skills, values, and interests, and make sure that the MBA will help you pursue your desired career.  Next, consider the costs of your degree as you would any large expenditure of time and financial resources. Given that about 70% of MBAs received financial aid to pay for their education, you should decide whether you are willing to make a similar financial commitment. (If you need an income but don't think you can work and go to school at the same time, keep this in mind: A recent U.S. Department of Education study showed a surprising result: 75% of MBA students overall and 61% of full-time MBA students work more than 35 hours a week. We're not saying it's easy to work and go for your MBA at the same time, but most MBAs manage to do it. Don't think you have to give up on your MBA dream just because you need your paycheck. Calculating Costs The first step in figuring out what your MBA will cost is to determine what tuition and living expenses you will incur and the type and amount of financial aid you will realistically be able to obtain. Carefully consider how much of your financial aid offer is in the form of loans and prepare a budget for your living expenses to figure out whether the loans will cover all your expenses. Also consider— loan interest and principal repayment relocation expenses and any associated change in living expenses "opportunity cost": factor in any income you will lose while in school. Part-time programs allow you to keep a full-time work schedule but, in most cases, take longer to complete than full-time programs. In a full-time program, if you don't work while in school, you will lose income for the length of the program; however, full-time programs are typically shorter than part-time programs and will allow you to get back into the job market with your MBA and earn an MBA salary quicker than part-time programs will. Incidental Costs You will incur expenses as you search for an MBA program, during the application process, and as you begin searching for a postgraduation job. You will likely want to narrow the list of schools to which you apply because of the costs, time, and effort involved. Costs add up quickly. Be realistic about what you will need to spend to apply to each school. Factor the following expenses into your budget: testing fees, test-preparation materials, and other miscellaneous costs application fees (ranging from US $40 to US $200), including fees for submittals using Web services or CD-ROM programs phone calls transcript request fees corporate networking visits postage or express delivery services travel expenses for recruiting events, interviews, or campus visits Weighing the Benefits Finally, evaluate the benefits of the MBA degree in terms of higher salaries and more career opportunities now and over the course of your career. Also consider higher skill levels in management and business, better job preparedness, the opportunity to meet and form lifelong relationships with your MBA classmates, and the personal growth and satisfaction that come from earning an MBA degree. These are all benefits of the MBA that make graduates feel satisfied with their degree. An MBA can open doors to a range of personal and employment opportunities. If you consider all the costs and benefits in light of your unique goals and circumstances and decide that an MBA is what you want, you can approach the next phase of your school decision confidently, knowing that you are about to make a wise investment in your future.

EURO 2008 or why WOrld CUp needs some tweaking

Euro 2008

 

Original @ www.inseadblogger.com

 

I know this is an MBA related blog and about life, but nobody should forget about the world’s biggest sport. I am talking about football. First of all let me clarify, it is not called soccer.

 

It is called basketball because the primary instruments are a ball and a basket. Handball is like football but players only use their hands and a ball. Baseball players need to use bases and a ball. Every normal person will call football- football.  For our American friends football is called by ROW(rest of the world). I am pasting wikipedias reference to how the world is derived and how it is used generally.

 

The rules of football were codified in England by the Football Association in 1863, and the name association football was coined to distinguish the game from the other forms of football played at the time, specifically rugby football. The term soccer originated in England, first appearing in the 1880s as a slang abbreviation of the word "association", often credited to former England captain Charles Wreford-Brown.[45]

Today the sport is generally known simply as football in countries where it is the most popular football code. In countries where other codes are more popular, the sport is more commonly referred to as soccer, and indeed is referred to as such in the official names of the governing bodies in the United States and Canada. FIFA, the sport's world governing body, defines the sport they govern as association football in their statutes,[46] but the term most commonly used by FIFA and the International Olympic Committee is football.

 

There is no dispute that Football is the world’s most popular sport. The world cup gathers twice the audience the Olympics gathers. There is only one problem with the World Cup. First of all some countries complain that Europe is over-represented in this competition consisted of 32 teams. Europe sends 14 teams at the World cup. Almost 45%. The critics argument is that Europe which has such a smaller population dominates the world cup.

 

Well let me tell you that they are wrong. No offence but with the exception of Latin America there are no other good teams around the world. Japan is trying but it is just an average team(worldwide). Japan may crush its Asian Neighbors but that simply proves the point that the competition in Asia needs to raise its game. Then you have S. Korea which I consider an OK team but worldwide they only have Word Cup 2002 to showcase and one may argue that during that Cup they were scandalously helped by the referees. China is a big country but that doesn’t make it a force in football. In 2005 I went to watch a friendly game between Shanghai’s best team versu the Beijing dragons(or something like that). The worst 90 minutes game I ever watched. I was surprised. I had low expectations but what happened during those 90 minuets can be put in this sentence: 22 people got divided in 2 teams, were given a ball and started hitting it and running up and down. IT seems “control” in china is still an unknown technique.

 

Africa is a rising force but unless they learn there is more to football than running up and down they will never mature. Iran is a middle east football powerhouse along with Saudi  Arabia. They should be getter get back to drill more oil and leave the game to professionals. North America, a special case. You have Mexico(which some Americans consider part of Latin/central America) which is a pretty good team actually, then CHAOS. USA is the only place(along with Canada) probably where football is not the Nr1 sport(maybe in China basketball is number 1, Japan football is number 2 after baseball). We Europeans have a theory about that….. Americans simply suck at football and pretend they do not care about it. I guess football needs something more than armor and muscles. On top of that in football we do not use cheerleaders or quarterbacks so the system wouldn’t survive the American high school culture. Enough with my venom though.

 

Euro 2008 is coming up! I prefer the Euro cup because only European teams are allowed which raises the level of the competition. Brutal facts: England (a football powerhouse) didn’t make it. Group A consists of Holland, France, Italy and Romania. If that was the World Cup one might get groups like : European country A, Iran, Trinidad & Tobago and an ok Latin American team. The Euro Cup is exciting the day it starts. In the world Cup I personally wait for the real competition to start( elimination phase). 

 

 

The world has to thank Argentina and Brazil for having GREAT times and therefore give a raison de entre to the world cup, although the rest of the latin America teams cannot be compared to the European ones. Here are the latest FIFA rankings, count the European teams.

 

FIFA Rankings as of April 9/2008:

1. Argentina (1519)

2. Brazil (1509)

3. Italy (1391)

4. Spain (1309)

5. Germany (1261)

6. Czech Republic (1234)

7. France (1205)

8. Greece (1187)

9. Portugal (1125)

10. Netherlands (1124)

 

By the way Greece is number 8! Why? Because greece’s record since 2002 is increasing non stop.  Number 1 spot and Number 2 spot go to Argentina and brazil since when they have their own cups they have less competition to worry about in their own backyard.

 

For all the haters out there, who believe Greece does not deserve a spot in the top ten - I hear a lot you know what from the English, and the Portuguese fans - you must ask yourself some questions:

1. Is it our fault England could not beat France in their recent friendly? NO.

2. Is it our fault England couldn’t qualify for EURO 2008? NO.

3. Is it our fault Nani and Ronaldo didn’t play against Greece? NO. [To be honest I think Ronaldo knew the Portuguese would lose, so he backed out (no

zanatos in the A380

www.inseadblogger.com good morning everybody. This is zanatos live from A380 flying from Tokyo to singapore. During Insead i had to do a project on A380. just wanted to say that.need to log off now

Competitive Economies for MBA students

READ ORIGINAL @ WWW.INSEADBLOGGER.COM !

The IMD Yearbook of Competitiveness:

The 20^th annual World Competitiveness Yearbook is published by IMD, a European TOP MBA(not as great as Insead- I am biased). The Yearbook ranks 55 economies on various competitive factors. IT tracks their path through the future Challenges. It is no surprise that US is number 1 for 15^th Years in a row. I believe there can be many people who will dispute that but remember the one who does the ranking doesn’t need to do them in a way that everybody agrees.

I am posting some of the results here so B-school applicants can think about places where they can get a job. It is very important since I believe everybody would rather work in a growing economy than to be in a slump. Opportunities await, take advantage of them.

One may complain that this is a European research, therefore more countries are represented. IT is true that European countries have 5 out of the 10 first places. Let me explain this is not a rnaking about how attractive an economy is but how competitive. For example Japan the world’s biggest economy is absent form the first 12 spots. That should surprise nobody. Japan may be big, but definitely not competitive. Another big absence is China. China is big and growing at trailblazer speeds is not the most open, competitive economy(you must have heard about state-owned companies).

Students should use this guide to decide where they would like to get employment after graduation. This is important because competitive countries/economies are always open to foreign talent(although this is not anymore for the USA).

Let the rankings begin:

Nr 12: Ireland

World Competitiveness Rankings:
Economy: 24
Government Efficiency: 7
Business Efficiency: 4
Infrastructure: 23

True Ireland is not what it used to be. It is not the only place with low taxes and the Euro is hurting. What Ireland was offering has already been copied by other countries and now Ireland is becoming an expensive place to do business. Opportunities abound in the pharma industry although it is moving eastward. Ireland has fallen behind in Telecommunications and Information technology. It is not Ireland’s fault that the center of the world is going eastern…

No. 11

Norway

Per Capita GDP: $55,610
Real GDP Growth: 3.5%

World Competitiveness Rankings:
Economy: 10
Government Efficiency: 15
Business Efficiency: 13
Infrastructure: 10

One word: OIL! North Sea oil. Did you know that After Saudi Arabia and Russia, Norway is the 3^rd largest Exporter of oil? One of the richest countries in the world but at the same time most expensive too. I once bought a burger for almost 5 Euros(and that was 5 years ago, before inflation). I do not know where there are opportunities in this country other than the oil sector

No. 10

Netherlands

Per Capita GDP: $37,743
Real GDP Growth: 3.5%

World Competitiveness Rankings:
Economy: 7
Government Efficiency: 17
Business Efficiency: 12
Infrastructure: 9

A country that has a great football team but never win any competitions. Great language abilities, very open economy(based on trade and international relations). Netherlands embodies the type of country that can make it on the 21^st century. There are some problems like entrepreneurship and research but I hope they will be fixed. A lot of opportunities exist in Holland due to European HQs

No. 9

Sweden

Per Capita GDP: $34,703
Real GDP Growth: 2.6%

World Competitiveness Rankings:
Economy: 22
Government Efficiency: 11
Business Efficiency: 8
Infrastructure: 5

IKEA, H&M Volvo and other hail from Sweden(along with tall Scandinavian models).

Sweden ranked first for computers per capita and Internet users, and second for secondary-school enrollment, the efficiency of large corporations, and expenditure on research and development. Fiscal policy and tax regulations need to be tweaked. 60% income tax, I am sorry this is a bit too much.

No. 8

Canada

Per Capita GDP: $37,383
Real GDP Growth: 2.7%

World Competitiveness Rankings:
Economy: 11
Government Efficiency: 8
Business Efficiency: 11
Infrastructure: 8

Think of US lite… Canada is a good mix of Europe and US. A very international place, Vancouver is more Asian than Caucasain. Oil is bringing in Billion of dollars, healthcare exists. Trade is booming. Canada is focusing resources on energy and letting foreign talent pour in. Microsfot opened a software center in Canada instead of the US because it was easier to bring foreign engineers.

No. 7

Australia

Per Capita GDP: $36,460
Real GDP Growth: 4.1%

World Competitiveness Rankings:
Economy: 15
Government Efficiency: 5
Business Efficiency: 6
Infrastructure: 16

Mines, resources, Rio Tinto and others are showering in dollars. It ranks second to the U.S. among countries with more than 20 million people, thanks in part to fierce resilience to economic cycles, the ease of launching startups, and a high influx of foreign college students. But if I hear once again the phrase Mr. Rudd, the Chinese Speaking Prime Minister, I will go nuts! Australia has found itself near china and with great asian relationships: China and Japan. Cleantech is improving and the financial sector is strengthening itself. Though I do not believe it can become a Financial hub.

No. 6

Denmark

Per Capita GDP: $36,265
Real GDP Growth: 1.8%

World Competitiveness Rankings:
Economy: 26
Government Efficiency: 4
Business Efficiency: 5
Infrastructure: 7

Another Scandinavian country joins the club. The Nordics prove my belief that culture is incredibly important for economic success. Bad cases in point include the Balkans..

Denmark as plenty going for it, placing first in the world for education, the percentage of broadband subscribers, employee motivation, positive attitudes toward globalization, and labor regulation. Though if Denmark become more right wing and doesn’t let immigration any more they will face problems(look at Japan), Europeans do not have an issue since they can go and work without any restrictions.

No. 5

Luxembourg

Per Capita GDP: $77,187
Real GDP Growth: 5.2%

World Competitiveness Rankings:
Economy: 4
Government Efficiency: 14
Business Efficiency: 9
Infrastructure: 18

If one can call Luxemburg a country….  I have no comments about it. It was in the list so I have to refer to it.

No. 4

Switzerland

Per Capita GDP: $38,131
Real GDP Growth: 3.1%

World Competitiveness Rankings:
Economy: 9
Government Efficiency: 3
Business Efficiency: 7
Infrastructure: 2

It boasts the world's third-largest current account surplus (16.8% of GDP). Unemployment is also unheard at 3.6%. It is supposed to have the best quality of life(but there is no definition about what is considered quality)among economies surveyed. Switzerland also placed first in finance and language skills, 3 official languages, first for its credit rating, and second for health expenditure. But expensive as hell itself.

No. 3

Hong Kong

Per Capita GDP: $41,110
Real GDP Growth: 6.3%

World Competitiveness Rankings:
Economy: 5
Government Efficiency: 2
Business Efficiency: 1
Infrastructure: 19

Hong Kong placed first for stock market capitalization as a percentage of GDP: 902.6%. To do business is Hong Kong is as easy as it gets. Government has 1.3% of Debt(Italy and Greece have both 100% upwards). Proximity to China, English is spoken around the island. Good infrastructure. BUT small houses! Consider that.

Opportunities are to be found in Finance(This is the NY of the 21^st Century), in trading and logistics, Consultancies. As a matter of fact a lot of Bschool Graduates make the move to HK.

No. 2

Singapore

Per Capita GDP: $47,052
Real GDP Growth: 7.7%

World Competitiveness Rankings:
Economy: 3
Government Efficiency: 1
Business Efficiency: 2
Infrastructure: 3

My sweetheart!  Efficient Government= Singaporean Government. Located equal time between India and China. Chinese and Indian population abound. Immigration of talent and money is more than welcome. They are trying to create a city of millionaires and they seem to be doing a great job at it. Singapore works by targeting sectors and attracts talent. SO if you are into technology, biotech or Digital graphics look at opportunities in this island state. Unemployment stands at a crazy (2.1%), and zero foreign debt make Singapore one of the healthiest economies in the world. Though growth comes with a price, it is called higher cost of living. I personally enjoyed many cheap lunches.

No. 1

U.S.

Per Capita GDP: $43,987
Real GDP Growth: 2.2%

World Competitiveness Rankings:
Economy: 1
Government Efficiency: 18
Business Efficiency: 3
Infrastructure: 1

The U.S. has ranked first on the World Competitiveness Scoreboard every year since 1994. But Singapore is closing in fast: The city-state trailed the U.S. this year by less than 0.7 points. US wake up otherwise you will become irrelevant in the years to come. Remember all Empires crumble from within.

Alexander’s, Qin’s, Rome’s, Byzantium’s,