Klaus Schwab: Switzerland’s openness is being put to the test

Founder of the World Economic Forum, Klaus Schwab, says Switzerland risks falling behind other economies in the face of rapid technological change.

The country dropped from first to fourth in the WEF’s latest economic competitiveness index, ranking poorly in areas such as market openness and tariff complexity.

While openness has been the secret to the country’s success, Schwab says that it is being put to the test and he cautions the country about erecting barriers given its high dependence on exports.

(SRF, swissinfo.ch)