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Moreover, the country's rising competitiveness in many sectors has made it an attractive export base.
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At the same time, rising competition from low-cost manufacturers coupled with a strong yen - which makes Japanese goods more expensive - has also hit their competitiveness.
It breaks the important and healthy link between the company and its workers: a link that can provide security to those employed and benefit the company's bottom line because of improved staff morale, reduced absenteeism and rising productivity and competitiveness.
Exports from Spain and Portugal were rising, and the labor competitiveness gap between Northern and Southern Europe was narrowing.
Back then, China bought US Treasury bonds to keep the currency from rising and eroding the competitiveness of Chinese exporters.
Striking airline workers, claiming a rise of 9.8%, have grounded scores of Lufthansa flights this week.Upward pressure on pay is likely to lead to more job losses in Italy and Spain, which are already struggling with poor competitiveness and rising unemployment.
Will China's exports hit the same barrier as a result of weakening competitiveness, or rising protectionism An IMF working paper published in 2009 calculated that if China remained as dependent on exports as in recent years, then to sustain annual GDP growth of 8% its share of world exports would rise to about 17% by 2020.
His admirers will argue that he is the ideal author for a book about fixing the economy, and will point to his record as president — reducing the federal deficit, overhauling welfare, blunting his party's reputation for profligate spending and presiding over the longest economic expansion on record with falling unemployment, rising incomes and improved competitiveness on the world stage.
Kim adds that France was already smarting over this week's edition of The Economist: Its special report warned that the parlous state of the French economy, its rising unemployment, lack of competitiveness, dwindling industry and high public spending, could overshadow the problems of Greece or Spain, and sparked angry reactions from French ministers.
However, Cantillon did not believe that international markets tended toward equilibrium, and instead suggested that government hoard specie to avoid rising prices and falling competitiveness.
Price rises endanger both competitiveness and their chances of adopting the euro.
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