Tuesday, September 8, 2009
Swiss Topple U.S. As Most Competitive Economy
Switzerland tops the overall ranking in The Global Competitiveness Report 2009-2010. The United States falls one place to second position, with weakening in its financial markets and macroeconomic stability. The U.S. is slipping to number two for the first time since the introduction of the index in its current form in 2004. Singapore, Sweden and Denmark round out the top five. European economies continue to prevail in the top 10 with Finland, Germany and the Netherlands taking the next three places.
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2 comments:
A very interesting yet realistic post- it is weird to think that although we still view ourselves as the world's most competitive economy, other countries are beginning to pass us. As a result of the financial crisis that is occuring, nations such as Switzerland are now surpassing the US as the world's most competitive economy. One very interesting ntoe from this article is the fact that Switzerland itself dipped into a recession last year too and had to bail out its largest bank UBS, however the economy is still holding up better than many expected.
Well I feel that the index is not a fair representation of a country's competitiveness. US with its massive size is still more competitive than any other smaller nations like Switzerland. These indexes usually have restricted levels of measure which really don't go into the depth of what is required to be competitive.
However, it does make sense after the economic meltdown in the country that it is sliding in the ratings. But with time, it is going to be back to the same spot that it enjoyed a couple of years back
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