GENEVA — Boosted by improvements in innovation and technology, the U.S. economy has moved up two slots, to third place — behind top performers Switzerland and Singapore — according to the Word Economic Forum’s global competitiveness rankings in its 2014 business survey.
“As it recovers from the crisis, the United States can build on the many structural features that make its economy extremely productive,” said the WEF’s “Global Competitiveness Report: 2014-2015,” which polled, worldwide, more than 14,000 business leaders in the 144 economies reviewed.
The report said the U.S. economy posted improvement in a number of areas, especially in innovation.
The WEF report ranks countries based on the business-leader survey and 12 determinants of competitiveness, including the macro economy, goods-market efficiency, innovation, business sophistication, infrastructure and technological readiness.
Benat Bilbao, WEF senior economist, told reporters, “The global recovery is better [than the U.S. recovery], and there are many countries that are making good strides to come out of the crisis…and the United States is improving the situation with economic growth coming back to the country.”
Regarding competitiveness in key textile and apparel exporting countries, the WEF report shows that only a few posted gains in global competitiveness: For example, Vietnam was up two slots, to 68th; Bangladesh was up one position, to 109th; Indonesia was up four places, to 34th, and China was up one, to 28th. However, in the case of China, the report notes, the country “is no longer an inexpensive location” for labor-intensive activities such as apparel production, and it is losing manufacturing jobs to other less-developed nations.
The report said many other key suppliers witnessed declines or stagnation in global competitiveness: for example, India was down 11 rankings, to 71st; Sri Lanka was down eight, to 73rd; Cambodia was down seven, to 95th, and Turkey was down one, to 45th.
“My personal philosophy to beauty is paying attention to oneself. I love to be outdoors, lots of fresh air, trying to take care of yourself as best you can. I always notice that comes through,” says Felicity Jones, the global face of @shiseido-owned @cledepeaubeauteus, which launches today. Head to WWD.com to read more about the actress’ love for beauty and how she prepared for her new role in “The Basis of Sex,” playing the young Ruth Bader Ginsburg. #wwdbeauty (📷: @dandoperalski)
For men’s fall 2018, @giuseppezanotti drew on elements from streetwear, sport, biker, combat and rock ‘n’ roll. Pictured here are a pair of shoes from the collection, featuring zippers, rhinestones, and silver hardware. Head to WWD.com to see a roundup of the accessories from Milan’s men’s fall 2018 shows. #wwdfashion (📷: Andrea Delb)
To celebrate the 25th anniversary of @ralphlauren’s snowboarding collection, the brand is mining its archives. The iconic brand is reintroducing vintage styles and dropping new designs for a color capsule that will be available in Ralph Lauren stores and @openingceremony on January 25. The capsule will consist of 10 pieces, including the Snow Beach Pullover, pictured here, which is a collector’s item that rapper Raekwon wore in Wu-Tang Clan’s “Can It Be All So Simple” video. #wwdfashion (📷: Tom Gould)
For @rochasofficial’s pre-fall 2018 collection, creative director Alessandro Dell’Acqua channeled the sophisticated and intriguing Catherine Denevue in the film “Belle de Jour.” Polished collarless coats, midi skirts, suits and ’60s graphic motifs were all featured in the collection, adding a sense of discreet luxury. See the rest of the photos on WWD.com #wwdfashion
“We tried to produce clothing of that couture quality, but the most daunting part was that we only had a matter of days [to do it],” said costume designer Lou Eyrich, who recreated Gianni Versace’s iconic looks for @americancrimestoryfx. Eyrich searched online retailers and vintage shops for original pieces from the design house and for @penelopecruzoficial, who plays Donatella Versace. Head to WWD.com to read how she created the Versace world. #wwdfashion
Only three months after her stellar debut catwalk season, @kaiagerber has inked her first big design collaboration –– with @karllagerfeld. The collection blends Lagerfeld’s Parisian chic aesthetic and the model’s signature West Coast casual style via RTW, accessories, footwear and more. The #KarlLagerfeldxKaia collection will launch in September with a series of events. Get all the details on WWD.com. #wwdnews #wwdfashion
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews