Competitive features of country associations based on the Global Competitiveness Index: the case of the United States – Mexico – Canada Agreement

Abstract

Modern architecture of the world economy is determined not only by the indicators of development of individual national economies and not only by their individual efforts, but also by coordinated efforts of several countries, such as trade agreements. One of such agreements that should lead to freer market relations, fairer trade and sustainable economic growth in the region, better resolution of international disputes, environmental protection, intellectual property protection, etc., is the United States – Mexico – Canada Agreement (USMCA). The aim of this paper is an attempt to analyze the level of global competitiveness of intergovernmental associations (agreements) as influential participants in the international market. To do this, the concepts of “competitive power of the country” and “competitive power of international integration groups” are compared with the concept of firm competitiveness. The competitiveness of the country association was analyzed through the example of the USMCA based on The Global Competitiveness Report 2019 and The Global Competitiveness Index 4.0. used in it. The paper also examines the global challenges and obstacles affecting the level of competitiveness and competitive advantage that each country receives when participating in an international integration agreement. This analysis helps explain real competitive processes in the global economy.