News / USA

US Falls, China Rises in Global Competitiveness Rankings

The World Economic Forum's Global Competitiveness Report finds the United States has fallen to fourth position behind top-ranked Switzerland, Sweden and Singapore in its competitiveness rankings of 139 countries. The report notes China has moved up in the rankings and sub-Saharan African countries continue to hold the bottom.

The report finds the recent economic crisis is having an impact on its competitiveness rankings. It notes the United States is continuing its decline. After being toppled from first to second position last year, it now has fallen two more places to fourth position.

Despite this, co-author of the Global Competitiveness Report, Thierry Geiger, tells VOA the United States is still among the most competitive economies in the world. And this he says is because the United States remains strong in areas, such as innovation, business sophistication, education and infrastructure.

"Now we see a deterioration in the situation of some macro-economic indicators, including obviously the government budget," said Geiger. "The budget deficit is deepening, the debt level is also rising. The financial market development category is one of the twelve pillars we capture. So, the situation there in the financial market and banking sector is still going down. The assessment is still deteriorating from last year."

The report finds the Nordic countries continue to be well positioned in the rankings, with Sweden, Finland and Denmark among the top 10. It says Germany leads the Euro-zone countries, moving up two places to fifth position. And, the United Kingdom, it says, has moved back up to 12th position after falling in the rankings over recent years.

The report notes China is becoming more competitive. Geiger says the country is making improvements in its financial and banking sectors, areas where it has been historically weak. He says this and other factors have boosted China from 29th to 27th place.

"This is quite remarkable given the level of development of China now," added Geiger. "It is still an emerging economy and now really it is almost at the level of many advanced economies. And, they are actually widening the gap with the other BRICs; namely, India, Russia, and Brazil, which are much lower in the rankings."

The report focuses on, what it calls, two interesting regional trends. It cites the strong, dynamic performances of Asian countries, including China, India, Indonesia, Vietnam and Sri Lanka.

The report notes several countries from the Middle East and North Africa region occupy the upper half of the rankings. It says most of the Gulf States are becoming more competitive because they are diversifying away from oil into other areas of economic pursuit.

In sub-Saharan Africa, 54th and 55th placed South Africa and Mauritius feature in the top half of the rankings. They are followed by Namibia, Botswana and Rwanda, who figure among the best performing countries in the lower half of the rankings.

But the report says Chad, Burundi and Malawi continue to be among the worst performing countries.

You May Like

UN Ambassador Power Highlights Plight of Women Prisoners

She launches the 'Free the 20' campaign, aimed at profiling women being deprived of their freedom around the world More

Satellite Launch Sparks Spectacular Light Show

A slight delay in a satellite launch lit up the Florida sky early this morning More

Fleeing IS Killings in Syria, Family Reaches Bavaria

Exhausted, scared and under-nourished, Khalil and Maha's tale mirrors those of thousands of refugees from war-torn countries who have left their homes in the hopes of finding a better life More

This forum has been closed.
Comments
     
There are no comments in this forum. Be first and add one

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Nobel Prize Winner Malala Talks to VOAi
X
August 31, 2015 2:17 AM
Nobel Peace Prize winner Malala Yousafzai met with VOA's Deewa service in Washington Sunday to talk about women’s rights and unveil a trailer for her new documentary. VOA's Katherine Gypson has more.
Video

Video Nobel Prize Winner Malala Talks to VOA

Nobel Peace Prize winner Malala Yousafzai met with VOA's Deewa service in Washington Sunday to talk about women’s rights and unveil a trailer for her new documentary. VOA's Katherine Gypson has more.
Video

Video War, Drought Threaten Iraq's Marshlands

Iraq's southern wetlands are in crisis. These areas are the spawning ground for Gulf fisheries, a resting place for migrating wildfowl, and source of livelihood for fishermen and herders. Faith Lapidus has more.
Video

Video Colombians Flee Venezuela as Border Crisis Escalates

Hundreds of Colombians have fled Venezuela since last week, amid an escalating border crisis between the two countries. Last week, Venezuelan President Nicolas Maduro ordered the closure of a key border crossing after smugglers injured three Venezuelan soldiers and a civilian. The president also ordered the deportation of Colombians who are in Venezuela illegally. Zlatica Hoke reports.
Video

Video Rebuilding New Orleans' Music Scene

Ten years after Hurricane Katrina inundated New Orleans, threatening to wash away its vibrant musical heritage along with its neighborhoods, the beat goes on. As Bronwyn Benito and Faith Lapidus report, a Musicians' Village is preserving the city's unique sound.
Video

Video In Russia, Auto Industry in Tailspin

Industry insiders say country relies too heavily on imports as inflation cuts too many consumers out of the market. Daniel Schearf has more from Moscow.
Video

Video Scientist Calls Use of Fetal Tissue in Medical Research Essential

An anti-abortion group responsible for secret recordings of workers at a women's health care organization claims the workers shown are offering baby parts for sale, a charge the organization strongly denies. While the selling of fetal tissue is against the law in the United States, abortion and the use of donated fetal tissue for medical research are both legal. VOA’s Julie Taboh reports.
Video

Video Next to Iran, Climate at Forefront of Obama Agenda

President Barack Obama this week announced new initiatives aimed at making it easier for Americans to access renewable energy sources such as solar and wind. Obama is not slowing down when it comes to pushing through climate change measures, an issue he says is the greatest threat to the country’s national security. VOA correspondent Aru Pande has more from the White House.
Video

Video Arctic Draws International Competition for Oil

A new geopolitical “Great Game” is underway in earth’s northernmost region, the Arctic, where Russia has claimed a large area for resource development and President Barack Obama recently approved Shell Oil Company’s test-drilling project in an area under U.S. control. Greg Flakus reports.
Video

Video Philippine Maritime Police: Chinese Fishermen a Threat to Country’s Security

China and the Philippines both claim maritime rights in the South China Sea.  That includes the right to fish in those waters. Jason Strother reports on how the Philippines is catching Chinese nationals it says are illegal poachers. He has the story from Palawan province.
Video

Video China's Spratly Island Building Said to Light Up the Night 'Like A City'

Southeast Asian countries claim China has illegally seized territory in the Spratly islands. It is especially a concern for a Philippine mayor who says Beijing is occupying parts of his municipality. Jason Strother reports from the capital of Palawan province, Puerto Princesa.
Video

Video Ages-old Ice Reveals Secrets of Climate Change

Ice caps don't just exist at the world's poles. There are also tropical ice caps, and the largest sits atop the Peruvian Andes - but it is melting, quickly, and may be gone within the next 20 years. George Putic reports scientists are now rushing to take samples to get at the valuable information about climate change locked in the ice.

VOA Blogs