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.
Taking the final spot on the mens’ portion of New York Fashion Week calendar next month will be none other than @tomford. Though he’s shown his men’s wear in New York in the past, this will mark the first time the designer has shown his men’s collection alone during New York Fashion Week: Men’s. His runway show will debut on February 6 at the Park Avenue Armory. #wwdfashion
London-based couture house @ralphandrusso has certainly been in the spotlight, having its dresses worn by @beyonce, Angelina Jolie, Meghan Markle in her engagement photos and more. For couture, Tamara Ralph focused on ornamentation — think: feathers with chain mail, jet embroidery and clusters of pearls and crystals. See the rest of the collection on WWD.com #wwdfashion #couture (📷: @giovanni_giannoni_photo)
Minnie Mouse celebrated her 90th birthday by getting her own star on the Hollywood Walk of Fame. For her celebratory luncheon, @coach’s creative director @stuartvevers dressed her in a custom made prairie dress, complete with Vever’s take on the polka dot – black sequined versions – under a cropped motorcycle jacket. The designer also put his own mark on Minnie’s classic red shoes, infusing the color with sparkles and adding some Coach crystals. “We chose colors that were very Minnie and also represented quintessential Coach elements,” said Vevers. #wwdfashion #nationalpolkadotday (📷: George Chinsee)
@nickjonas is unveiling his first-ever apparel collection through a partnership with John Varvatos. The limited-edition capsule, which makes its debut in spring, also marks the first time the designer has collaborated with anyone on a line. “The process in working with Nick is amazing. It’s inspiring to be around someone who is not only connected with the trade that they do, but also with what’s happening in the environment around him, and how that connects to what we do with style,” said Varvatos. (RG: @johnvarvatos) #wwdfashion
@margotrobbie steps out onto the red carpet wearing @miumiu. The actress is nominated for “Outstanding Performance by a Female Actor in a Leading Role” in “I, Tonya” at the #SagAwards. (📷: Stewart Cook) #wwdfashion
For @massimogiorgetti of @msgm, the Nineties are his favorite decade. “They had a huge impact on my personal growth. What I like of the Nineties is that they are not so precise in terms of style as other decades…there was actually a bit of everything,” he said. As seen on MSGM’s Spring 2018 show: tie-dye and a bit of grunge, two styles that are synonymous with the decade #wwdfashion #wwddecades (📷: @kukukuba)