Here We Go Again

Again the media is uncritically lauding the World Economic Forum's "Global Competitiveness Report" who appears to be as useless as last year's version.

I won't bother repeating my criticism of it and refers instead what I wrote last year about it (see here and here), but really, it amazes me how anyone can take seriously a report that claims that China, you know the country whose economy grows at double-digit rates and whose exporters kicks every other country's export industries' asses, as being only 54th (!) most competitive, supposedly far less competitive than infamous economic laggards like Germany, Italy and Japan.