And so we need a plan to deal with this, to restructure and boost competitiveness.
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The biggest question surrounds France, which has long resisted the sort of supply-side reforms needed to boost competitiveness.
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By removing the option of devaluing to boost competitiveness, it may deter wage claims that price workers out of jobs.
And it runs against the thrust of Europe's response to the euro crisis, which is to boost competitiveness, not to coddle inefficiency.
It wants tougher European supervision of big banks (perhaps by the European Central Bank), commitments to boost competitiveness, and perhaps harmonised taxes.
This plan was big on reforms to boost competitiveness with the best performer to be used as a benchmark for others to emulate.
To boost competitiveness and growth, as well as improve the budget, it must embrace radical tax changes, cuts in public-sector pay and pension reforms.
Following criticism that too much regulation is driving foreign investment to markets abroad, the U.S. Treasury Department is drafting a plan to streamline regulations and boost competitiveness.
But it's unclear how either of those two measures would directly boost competitiveness, or the ability of euro-zone businesses to produce world-beating goods and services at low cost.
The CAAC has urged the 10 airlines under its control to merge into three carrier groups under China Southern, China Eastern and unlisted Air China in a bid to boost competitiveness.
Germany will preach thrift and reforms to boost competitiveness.
But officials are at pains to point out that, rather than help specific industries, the main thrust of the new policy is to try to boost competitiveness more generally by promoting innovation, higher education and training.
Many Conservatives on the right of the party argue the government's pro-growth initiatives are inadequate and that changes to the labour market, tax cuts and other "supply side" measures needed to boost competitiveness are being held back by the Lib Dems.
But Mr. King also had a further message for politicians that some would argue he should have spelt out much more clearly before now: that the only sure-fire way to boost the long-term growth of an economy lies in structural overhauls designed to boost competitiveness and the supply potential of the economy.
With such constraints on governments, companies will have to boost their competitiveness with little outside help.
Tariff cuts, noted the official China Daily, would force enterprises to boost their competitiveness or go bankrupt.
This gives the country's steelmakers a big advantage which, in turn, could help to boost the competitiveness of their customers.
But in the main countries there is almost no progress on the micro-economic reform needed to boost sagging competitiveness, argues Joyce Chang of J.
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Essentially this means pushing here and there to boost the competitiveness of most established economies while encouraging consumer spending in high-savings emerging economies, especially China.
Mr Cox embraced the more radical approach approved this week in the belief that it would boost the competitiveness of American firms by removing barriers to investment.
The French president, Nicolas Sarkozy, has put pressure on the ECB to cut rates in order to reduce the value of the euro and boost European competitiveness.
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But we want, obviously, to boost our competitiveness.
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Few G-20 countries have used the time bought by past stimulus to make the vital supply-side reforms to boost productivity and competitiveness.
So, it's argued, it would be in the interests of rUK to do a deal to boost trade, competitiveness and financial stability.
Since then, a number of Tory MPs have warned that the UK is being left behind in aviation, saying a new runway is needed to boost trade and competitiveness.
"If there was one single measure that would have resolved the problem, just like clearing a fog, then we wouldn't have been in this state for the last 15 years, " he said at the news conference, reiterating that in addition to monetary policy, efforts to boost growth and competitiveness also were necessary.
But even more important are structural reforms to improve competitiveness and boost growth.
Valuing saved barrels at the low end of credible estimates of their "external" cost could repay taxpayers' bailout loans, rebuild automakers' competitiveness, boost security and save carbon.
If the euro zone is to survive and prosper, as I hope and believe it will, Europe needs to seize every opportunity to boost its productivity and competitiveness.
Abe has pledged to boost Japan's competitiveness and push ahead with difficult reforms needed to sustain growth in the longer run, while at the same time stimulating demand at home through higher public works spending.
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