José October 15, 2008 Puerto Rico Views: 1 View Comments Print this post Send this post Copyright Jose Ramirez

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With an index score of 4.51, Puerto Rico was at No. 41 in the latest Global Competitiveness Report , the World Economic Forum . The United States ranked first with 5.74 and Chad last, the 134, with 2.85. In America, Puerto Rico ranks fourth, preceded by Chile (28/4.72), Canada (10/5.37) and U.S. (1/5.74). Puerto Rico dropped five places in one year. We who live here in this country divided and paralyzed this result is not surprising. As long as we well just go down.

The score is determined based on twelve pillars "of competitiveness variables. These are:

1. Institutions
2. Infrastructure
3. Macroeconomic Stability
4. Health and education
5. Higher education and training
6. Market efficiency
7. Labor market efficiency
8. Financial Market Sophistication
9. Technological capacity
10. Market size
11. Business sophistication
12. Innovation

Advantages of Puerto Rico

Puerto Rico has advantages: the protection of intellectual property, property rights, legal framework, the quality of private institutions in their growing infrastructure (except in the provision of electricity), health (except infant mortality rate and impact of HIV / AIDS), trade competition, income and productivity of its workforce, its financial market, the availability of technology and the ability of their suppliers.

Disadvantages of Puerto Rico

Puerto Rico is at a disadvantage: the use of public funds in trust in politicians, judicial independence, favoritism in government, the waste of public money, too much government regulation, crime, violence, safety , the budget deficit, public debt, low savings rate, the educational system, assessment rates, poor farming, poor industrial relations, low participation of women in the workforce, the huge "brain drain" , the difficult financing, low access to capital, the telephone system, speed, internet use and access to, use of computers, the capacity for innovation and the use of technology by the government. Again, these shortcomings do not sorpreder should any resident of this island because these are the problems our everyday.

The government of Puerto Rico, the problem

I have to be noted that waste of public funds occupied the position 116, which in excess of the 131 government regulation which in saving the 129, and input 103, in the use of computers 118 in the international distribution the 106 of 134 countries surveyed. That is, we are well behind.

I insist as I said earlier that our island is a mismanaged country , which has incredible resources very badly used , and for this reason we keep lagging and shall continue until we define a common purpose and competent managers capable of leading to him.

Puerto Rico vs. Singapore

Economists continue to listen to our Island Puerto Rico compared with Singapore . Out of curiosity I searched for information on this country and found that:

I noticed that the island of Singapore is a city state , such as Monaco, the Vatican and Hong Kong. Singapore was a British colony and in 1965 became independent. Singapore is a small territory, being one seventh the size of Puerto Rico. Also, as Puerto Rico, Singapore is densely populated (population density second planet) and has few natural resources. However, Singapore is ranked fifth in the Competitiveness Report has a GDP three times that of Puerto Rico, which is higher per capita than France, with an annual growth rate of 7.7%, while in Puerto Rico decreases. Our unemployment is six times that of this small town and our inflation three times that prevails there. Singapore exports six times what our island, doubled our electricity production is three times more Internet users and nearly twice as many users of mobile phones. (See: CIA World Fact Book Singapore and Puerto Rico ). In addition, Singapore has one of the best air lines in the world , the second best airport , the busiest port and per capita income among the top 25 in the world .

What has Singapore

Looking to know more I found this quote from Raymond LeBlanc in Singapore. The Socio-Economic Development Of A City-State: 1960-1980 .

The first key factor is we distinguishe the central location of Singapore Within a commodity rich region and Its central location Between East Asia, West Asia and Europe. The next key factor is the other 'natural' asset namely Singapore Possessed: the people. Singapore's basic policy is to maximize the Potential of Its People So They Can Contribute the most to Themselves and the country. Education has-been the key factor in this policy. Because Singapore is a small society it is Believed to Have STIs be good people, and competitive in business. Singaporeans Have Been Able-through Ability to prosper due to meritocracy and performance.

... Also mentions the Availability of administrative-and Political Capabilities in Singapore as a precondition for development. Stability Has Been Another precondition for Growth in Singapore. Political Stability and Stability in labor relations enabled the Government to Pursue Development Policies ITS whilst at the same time it Facilitated Multinationals and the attraction of capital to the island. Free enterprise has Always Been Supported by the Singapore government. The quickest way to Develop expertise, technology, and skills by Inviting Was Multinationals and learning from them. The free enterprise system enabled Singapore to Operate as a global city in world wide and to Attract Capital Markets.

And Puerto Rico, what?

Geographical location, people and multinationals are attributes that we share. We have made use of these resources is what sets us apart, we remain unable to make good use of our population with a poorer education system, the government is grossly inefficient, its administrative and political capacity is zero, the political stability, continuity development policy, support for the employer, the tax burden and the inability to innovate are a disaster.

Again, as said Irene Mia, World Economic Forum ,

"For a country to take advantage of information technology has to be an enabling environment and must have a vision and a joint effort of all stakeholders"

"The level of development in Puerto Rico is found to have already met the basic standards of a developing economy, however it is not"

What happens to us, Puerto Rico?