In support of this link, some studies have found a relationship between industry wage growth and import penetration, and between the relative decline in wages of low-skilled workers and trade, but the effects are generally small. A second possibility is that globalization has restrained unit labor costs by raising productivity.
Role of chartered accountants In the most recent World Competiveness Report, the deteriorating state capacity was one of the areas that contributed to the slide in the country’s ranking to 52nd place out of 144 countries that were ranked. Some of the more problematic areas identified included an inefficient bureaucracy, corruption and policy instability.