GENEVA — The U.S. retained the top spot as the world’s most competitive economy in 2008, in large part due to its strengths in innovation and labor market efficiency, a report by the World Economic Forum said.
The U.S. “is endowed with many structural features that make its economy extremely productive and place it on a strong footing to ride out business cycle shifts and economic shocks,” said the Oct. 8 report.
However, the WEF’s “Global Competitiveness Report 2008-2009” warned that the U.S. has “built large macroeconomic imbalances…with repeated fiscal deficits leading to rising and burgeoning levels of public indebtedness.”
Switzerland is ranked as second-most competitive, followed by Denmark, Sweden, Singapore, Finland, Germany, the Netherlands, Japan and Canada.
Jennifer Blanke, WEF senior economist, said the global study was focused on examining economic structures rather than any shocks to the systems. Blanke said the current financial crisis will bring about “a huge correction,” and warned that unless it’s fixed “it can do a lot of damage in the short to medium term” to the competitiveness of economies.
The report ranks 134 economies based on a survey of 12,000 business leaders worldwide and 12 key determinants of competitiveness. These include macroeconomic stability, goods and labor market efficiency, innovation, business sophistication, institutions, infrastructure, education, technological readiness and financial market sophistication.
Among emerging economies, gains were posted by China, Brazil, Costa Rica, Peru, Cambodia, Jordan and Hong Kong, the report shows.
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)
@heriethpaul and @gracebol have a moment on the @victoriassecret fashion show 2017. See every look from the runway on WWD.com. Link in bio. (📷: @giovanni_giannoni_photo) #wwdfashion #victoriassecret #VSFashionShow
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia