In a byline in Borsen, PA’s Frank Madsen, an expert in organisation and management, gives his view on recent figures that suggest the Danish economy is heading towards another recession. Frank identifies several challenges that the West needs to address in order to restore its economy: “Why not take a look at the wage development in Western countries […] Why should a Western worker make more than a Chinese worker, who is equally competent?”
Frank adds that Western countries need to increase their level of investment: “Western investments have dropped to 15 per cent, while Chinese investments account for almost half of GDP.”
Frank also encourages Western countries to grow their number of educated specialists, to increase investment in new technologies and to reduce public expenditure: “Public expenses must be reduced, which means that the average Dane must prepare himself for a poorer living standard – at least for a while.”
Frank Madsen is an organisation and management expert at PA Consulting Group
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