Wednesday, May 18, 2005

Europe falls behind world productivity growth - FT

Rapid growth of output per employee in China and India, combined with improved productivity growth in north America, eastern Europe, the Middle East and Africa drove the world economy forward, according to a report published today by the Conference Board, a global business organisation.

Only in Europe and Latin America has productivity growth slowed.
An intensification of the competitive process is doing good to most regions of the world,” said Bart van Ark, a professor at the University of Groningen in the Netherlands and one of the authors of the report. “The number of countries that participate in the world economy is now higher than it has ever been and some of the lower income regions can now exploit their comparative advantages in world markets.”

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