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Questions 63 to 66 refer to the following text:
Where to be born in 2013
Warren Buffett, probably the world’s most successful investor, has said that anything good that happened to him could be traced back to the fact that he was born in the right country, the United States, at the right time (1930). A quarter of a century ago, when The World in 1988 lightheartedly ranked 50 countries according to where would be the best place to be born in 1988, America indeed came top. But which country will be the best for a baby born in 2013?
To answer this, the Economist Intelligence Unit (EIU), a sister company of The Economist, has this time turned deadly serious. It earnestly attempts to measure which country will provide the best opportunities for a healthy, safe and prosperous life in the years ahead. Its qualityof-life index links the results of subjective life-satisfaction surveys—how happy people say they are—to objective determinants of the quality of life across countries. Being rich helps more than anything else, but it is not all that counts; things like crime, trust in public institutions and the health of family life matter too. In all, the index takes 11 statistically signifi cant indicators into account.
What does all this, and likely developments in the years to come, mean for where a baby might be luckiest to be born in 2013? After crunching its numbers, the EIU has Switzerland comfortably in the top spot, with Australia second. Small economies dominate the top ten. Half of these are European, but only one, the Netherlands, is from the euro zone. The Nordic countries shine, whereas the crisis-ridden south of Europe (Greece, Portugal and Spain) lags behind despite the advantage of a favourable climate. The largest European economies (Germany, France and Britain) do not do particularly well.
America, where babies will inherit the large debts of the boomer generation, languishes back in 16th place. Despite their economic dynamism, none of the BRIC countries (Brazil, Russia, India and China) scores impressively. Among the 80 countries covered, Nigeria comes last: it is the worst place for a baby to enter the world in 2013.
Source: The Economist print edition (adapted), Nov 21, 2012.
Recruiters eye Brics to build business
Brazil’s dream of shedding its middle-income status is over, some Bric observers have said. But to UK recruitment agencies, the South American powerhouse still offers something that is much harder to fi nd close to home – huge growth potential. Although Brazil’s gross domestic product is estimated to have notched up less than 1 per cent growth in 2012, UK recruitment groups are still opening offi ces there and expanding deeper into the region.
“You will get these hiccups along the way,” says Steve Ingham, chief executive of recruitment agency PageGroup (formerly Michael Page International). “The economy won’t always be as strong, but we will continue to invest through the cycle such that our endgame is to have a lot more offi ces and a lot more people in [Latin America].”
His company was one of the fi rst big UK recruiters to enter the region, about 13 years ago. There are now more than a dozen offi ces and about 600 staff in Latin America operating under PageGroup. Almost 10 per cent of PageGroup’s business is generated in the region but Mr Ingham “easily imagines” that rising to a fi fth in the near future. “Our expectations are enormous,” he says, highlighting the potential beyond Brazil, in countries such as Mexico and Chile. “We’re not just depending on Brazil[to generate fees] any more.”
Other recruiters have followed suit, as part of their expansion away from the saturated UK market to fastergrowing economies in Asia and beyond. Hays recently opened offi ces in Colombia and Chile, and Brazil is already the sixth-largest country in the group, based on net fees.
Source: Vanessa Kortekaas, Financial Times, February 4, 2013
Recruiters eye Brics to build business
Brazil’s dream of shedding its middle-income status is over, some Bric observers have said. But to UK recruitment agencies, the South American powerhouse still offers something that is much harder to fi nd close to home – huge growth potential. Although Brazil’s gross domestic product is estimated to have notched up less than 1 per cent growth in 2012, UK recruitment groups are still opening offi ces there and expanding deeper into the region.
“You will get these hiccups along the way,” says Steve Ingham, chief executive of recruitment agency PageGroup (formerly Michael Page International). “The economy won’t always be as strong, but we will continue to invest through the cycle such that our endgame is to have a lot more offi ces and a lot more people in [Latin America].”
His company was one of the fi rst big UK recruiters to enter the region, about 13 years ago. There are now more than a dozen offi ces and about 600 staff in Latin America operating under PageGroup. Almost 10 per cent of PageGroup’s business is generated in the region but Mr Ingham “easily imagines” that rising to a fi fth in the near future. “Our expectations are enormous,” he says, highlighting the potential beyond Brazil, in countries such as Mexico and Chile. “We’re not just depending on Brazil[to generate fees] any more.”
Other recruiters have followed suit, as part of their expansion away from the saturated UK market to fastergrowing economies in Asia and beyond. Hays recently opened offi ces in Colombia and Chile, and Brazil is already the sixth-largest country in the group, based on net fees.
Source: Vanessa Kortekaas, Financial Times, February 4, 2013
Recruiters eye Brics to build business
Brazil’s dream of shedding its middle-income status is over, some Bric observers have said. But to UK recruitment agencies, the South American powerhouse still offers something that is much harder to fi nd close to home – huge growth potential. Although Brazil’s gross domestic product is estimated to have notched up less than 1 per cent growth in 2012, UK recruitment groups are still opening offi ces there and expanding deeper into the region.
“You will get these hiccups along the way,” says Steve Ingham, chief executive of recruitment agency PageGroup (formerly Michael Page International). “The economy won’t always be as strong, but we will continue to invest through the cycle such that our endgame is to have a lot more offi ces and a lot more people in [Latin America].”
His company was one of the fi rst big UK recruiters to enter the region, about 13 years ago. There are now more than a dozen offi ces and about 600 staff in Latin America operating under PageGroup. Almost 10 per cent of PageGroup’s business is generated in the region but Mr Ingham “easily imagines” that rising to a fi fth in the near future. “Our expectations are enormous,” he says, highlighting the potential beyond Brazil, in countries such as Mexico and Chile. “We’re not just depending on Brazil[to generate fees] any more.”
Other recruiters have followed suit, as part of their expansion away from the saturated UK market to fastergrowing economies in Asia and beyond. Hays recently opened offi ces in Colombia and Chile, and Brazil is already the sixth-largest country in the group, based on net fees.
Source: Vanessa Kortekaas, Financial Times, February 4, 2013
Recruiters eye Brics to build business
Brazil’s dream of shedding its middle-income status is over, some Bric observers have said. But to UK recruitment agencies, the South American powerhouse still offers something that is much harder to fi nd close to home – huge growth potential. Although Brazil’s gross domestic product is estimated to have notched up less than 1 per cent growth in 2012, UK recruitment groups are still opening offi ces there and expanding deeper into the region.
“You will get these hiccups along the way,” says Steve Ingham, chief executive of recruitment agency PageGroup (formerly Michael Page International). “The economy won’t always be as strong, but we will continue to invest through the cycle such that our endgame is to have a lot more offi ces and a lot more people in [Latin America].”
His company was one of the fi rst big UK recruiters to enter the region, about 13 years ago. There are now more than a dozen offi ces and about 600 staff in Latin America operating under PageGroup. Almost 10 per cent of PageGroup’s business is generated in the region but Mr Ingham “easily imagines” that rising to a fi fth in the near future. “Our expectations are enormous,” he says, highlighting the potential beyond Brazil, in countries such as Mexico and Chile. “We’re not just depending on Brazil[to generate fees] any more.”
Other recruiters have followed suit, as part of their expansion away from the saturated UK market to fastergrowing economies in Asia and beyond. Hays recently opened offi ces in Colombia and Chile, and Brazil is already the sixth-largest country in the group, based on net fees.
Source: Vanessa Kortekaas, Financial Times, February 4, 2013