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U.S. Reverses Four-Year Downward Trend in Competitiveness
While the conditions of the U.S. economy continue to hinder growth, stability and efficiency in the financial markets and a positive assessment of public institutions have helped improve the nation’s competitiveness and reverse a four-year downward trend. In World Economic Forum’s Global Competitiveness Index 2013-14, the U.S. moved into the number five spot, up from seventh last year, overtaking the Netherlands and Sweden. For the second year in a row, Switzerland, Singapore and Finland held onto their first, second and third rankings, respectively.
The report notes that the U.S. continues to be a world leader in bringing innovative products and services to market. An excellent university system that collaborates with the business sector in R&D also is recognized in the report as a key asset of the U.S. However, the business community’s distrust of politicians and perceived wasteful government spending, along with concerns over macroeconomic stability, are cited as weaknesses.
Read the report: http://reports.weforum.org/the-global-competitiveness-report-2013-2014/.