U.S. Leapfrogs Singapore, Hong Kong to Win World’s Most Competitive Economy

 

Good. This is what we call real progress. We need to build on this success. America is supposed to be a place where one can do business, and grow business, and where the rule of law means something. We have lots of work to do but this is an encouraging report.

(From Bloomberg)

The U.S. dethroned Hong Kong to retake first place among the world’s most competitive economies, thanks to faster economic growth and a supportive atmosphere for scientific and technological innovation, according to annual rankings by the Switzerland-based IMD World Competitiveness Center…

…Hong Kong, scoring first in categories for government and business efficiency, held an edge over regional rival Singapore, which kept its No. 3 spot from 2017. Rounding out the top five were the Netherlands, which jumped one spot, and Switzerland, which tumbled three slots as it endures a slowdown in exports and concerns about its potential relocation of research and development facilities.

At the bottom of the rankings were some usual suspects, with embattled Venezuela still ranked as the worst. Mongolia maintained its spot as second-to-last of the 63 economies. Brazil showed an improvement, with some healing in growth and hiring.

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