US Slips Down the Ranks of Global Competitiveness

CNBC ^ | 09/05/2012 | Ansuya Harjani

[SeekAndFind]

The United States has slipped further down a global ranking of the world's most competitive economies, according to a World Economic Forum (WEF) survey released on Wednesday.

The world's largest economy, which was placed 5th last year, fell two positions to the 7th spot - marking its fourth year of decline.

A lack of macroeconomic stability, the business community’s continued mistrust of the government and concerns over its fiscal health were some of the reasons for the downgrade, according to the annual survey.

"A number of weaknesses are chipping away at its competitiveness...the U.S. fiscal imbalances and continued political deadlock over resolving these challenges," said Jennifer Blanke, Economist at the Geneva-based WEF.

Political deadlock over reducing the unsustainable federal government budget deficit – projected to hit $1.1 trillion this year – prompted Standard & Poor’s to downgrade the country’s credit rating by one notch to AA+ from AAA last August.

A mix of U.S. tax hikes and spending cuts – referred to as the "fiscal cliff" - are set to come into force in January unless lawmakers reach a compromise for avoiding them.

The survey, which has been conducted annually for over three decades, ranks the competitiveness of 144 countries based on 12 key indicators including infrastructure, macroeconomic environment, labor market efficiency and innovation.

“If you look at competitiveness, what we are talking about is productivity. It’s countries that are productive that can support the sorts of rising living standards and high wages that everyone is looking for,” Blanke told CNBC.

[cranked]

Thanks Obamanomics.... =.=

[Wurlitzer]

Obama, and to be as accurate as possible, all democrats should be so very proud that they are accomplishing their Cloward & Piven goal of collapsing the USA to make us equal to the 3rd world.

There is nothing so fair in their minds than making things equal by destroying success. Failure is very equal as the outcome will always be the same.

My fear, in this election, is we are devoting so much time and effort to eliminate the cancer in the White House we are forgetting about congress which has been mostly assimilated by communists, who in many cases don’t even know they are communists.

[henkster]

Really? 7th? I’m surprised they think we’re doing that well.

We have an unskilled, uneducated and unmotivated labor force.

Predatory bureaucracies capriciously enacting and enforcing regulations that stifle business development.

Labor unions whose sole mission is to find the people who are still working, and stop them.

A legal climate that amounts to an extortion racket run by trial lawyers who are little better than mobsters.

An environmental policy that guarantees a lack of access to basic energy and raw materials needs.

Tax polices that punish success and reward failure.

With all of the above, I’d think the USA is one of the last places I’d start a business.

And we are still 7th? The rest of the world must really suck, then.

[txrefugee]

Four years of national decline. Are people crazy enough to vote for four more?

[SeekAndFind]

Switzerland and Singapore retained their positions as the most competitive economies, coming in 1st and 2nd, respectively.

The Global Competitiveness Index 2012–2013

Country	2012-2013	2011-2012
Switzerland	1	1
Singapore	2	2
Finland	3	4
Sweden	4	3
Netherlands	5	7
Germany	6	6
United States	7	5
United Kingdom	8	10
Hong Kong	9	11
Japan	10	9

Source: World Economic Forum

Switzerland’s top spot was achieved as a result of its strong performance across the board, according to WEF, with notable labor market efficiency, sophistication of its business sector and its innovative capacity. The country has among the highest rates of patents per capita globally.

“Switzerland’s productivity is further enhanced by a business sector that offers excellent on-the-job-training opportunities and labor markets that balance employee protection with the interests of employers,” the report said.

[GeorgeWashingtonsGhost]

I just checked this link here: http://en.wikipedia.org/wiki/Global_Competitiveness_Report#2008-2009_rankings (scroll down) and discovered that the United States was ranked #1 in 2008-2009 and lost that ranking ever since OBAMA TOOK OFFICE. Looks as though Obama's goal of sabotaging America's superpower status is being accomplished. At least he's getting SOMETHING done!