Final answer:
Local language proficiency is not considered a critical competence for global economic success in comparison to cultural intelligence, communication skills, and technical expertise.
Step-by-step explanation:
Local language proficiency has not been identified as a critical competence required to succeed in the global economy. While it can be beneficial in certain contexts, it is not broadly viewed as essential in the way that cultural intelligence, communication skills, and technical expertise are. Global businesses often operate in multiple languages and can require employees to be flexible in their language use. However, it is the broader competencies like understanding and navigating cultural nuances, effective communication across diverse teams, and possessing relevant technical knowledge that are universally recognized as key to success in a globalized market.