I just read the World Economic Forum (WEC) Global Competitiveness Report and the useful (and pretty) charts Bank of America derived from it. Then I did some comparisons.
I picked two countries (randomly-lol) and overlayed their graphs. (Note that the third panel is my responsibility, not BoA’s.) Argentina ranks hugely better against Brazil on two categories and marginally better or worse in four. The only large outperform by Brazil is on Bank Soundness and yet Argentina fares dramatically worse in WEC reading of Competitiveness!
Although I could not find the weights in the report, clearly (and probably rightly) the WEC places a substantial weight on Bank Soundness in promoting country competitiveness.
The argument is probably solid. Flimsy, flaky, shady banks are no good. However, what does it say for the evolution of finance, banking and Fintech? Could it be that a healthy crypto alternative might pick up where sound banks falter?
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