Thursday, October 18, 2018
Wall Street Journal, U.S. Is World’s Most Competitive Economy for First Time in a Decade:
The U.S. is back on top as the most competitive country in the world, regaining the No. 1 spot for the first time since 2008 in an index produced by the World Economic Forum, which said the country could still do better on social issues.
America climbed one place in the rankings of 140 countries, with the top five rounded out by Singapore, Germany, Switzerland and Japan. All five countries’ scores rose from 2017, with the U.S. notching the second-biggest gain after Japan’s.
The top spot hasn’t gone to the U.S. since the financial crisis stalled output and triggered a global economic slowdown.
“Economic recovery is well underway, with the global economy projected to grow almost 4% in 2018 and 2019,” said the report, published Tuesday by the organization that produces the Davos conference on global politics and economics.
However, “recovery remains vulnerable to a range of risks and potential shocks,” the authors warned. They cite a brewing trade war between the U.S. and China as a possible hindrance to growth that could potentially derail the recovery and deter investment. ...
The Global Competitiveness Report this year assessed 140 countries on 98 indicators that measure business investment and productivity. The indicators are organized into 12 main drivers of productivity including the nations’ institutions, tech savvy, infrastructure, education systems, market size and innovation.