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

India PM Modi's Party Distances Itself From Religious Conversions

BJP under fire for being slow to rein in hardline affiliate groups allegedly trying to promote Hindu-dominant agenda by luring Muslims and Christians to convert More

Anti-Whaling Group Found in Contempt of Court

Radical environmentalists who threw acid and smoke bombs at Japanese whalers in the waters off Antarctica continue their campaign to disrupt Japan's annual whale hunt More

UN's Ban Urges End to Discrimination Against Ebola Workers

Ban was speaking in Guinea on the second day of a whistle-stop tour aimed at thanking healthcare workers of the countries at the heart of the epidemic 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.
US Decision on Cuba Underscores Divisions Among Miami Cubansi
X
Sharon Behn
December 19, 2014 9:34 PM
For decades, older, more conservative Cubans have been gathering at Café Versailles on the corner of Calle Ocho to eat Cuban food and talk politics. After hearing of President Barack Obama’s decision, a number of them gathered in front of the café with posters to protest. VOA's Sharon Behn reports on the situation.
Video

Video US Decision on Cuba Underscores Divisions Among Miami Cubans

For decades, older, more conservative Cubans have been gathering at Café Versailles on the corner of Calle Ocho to eat Cuban food and talk politics. After hearing of President Barack Obama’s decision, a number of them gathered in front of the café with posters to protest. VOA's Sharon Behn reports on the situation.
Video

Video Three Cities Bid for Future Obama Presidential Library

President Barack Obama still has two years left in his term in office, but the effort to establish his post-presidential library is already underway. The bid for the Obama Presidential Library is down to four locations in three states -- New York, Hawaii, and Illinois. As VOA’s Kane Farabaugh reports, each of them played an important part in the president’s life before he reached the White House.
Video

Video Cuba Deal is Major Victory for Pope’s Diplomatic Initiatives

Pope Francis played a key role in brokering the US-Cuba deal that was made public earlier this week. It is the most stunning success so far in a series of peacemaking efforts by the pontiff. VOA religion reporter Jerome Socolovsky has more.
Video

Video Fears of More Political Gridlock in 2015

2014 proved to be a difficult year politically for President Barack Obama and a very good year for the U.S. Republican Party. Republican gains in the November midterm elections gave them control of the Senate and House of Representatives for the next two years -- setting the stage for more confrontation and gridlock in the final two years of the Obama presidency. VOA National Correspondent Jim Malone has a preview from Washington.
Video

Video Sudan School Becomes Target of Aerial Attacks

The school dropout rate is at an all-time high in Sudan's South Kordofan state because many schools have been destroyed during the three-year civil war between the government and SPLA-N rebel forces. Adam Bailes visited Sudan's Nuba Mountains' region and reports many children are simply too scared to go to school
Video

Video VOA Reporter Tours Devastated Peshawar School

Islamist militants wearing military uniforms and strapped with explosives attacked a military run school Tuesday in the northwestern Pakistani city of Peshawar. At least 141 people were killed in the horrific attack, most of them young students. VOA reporter Ayaz Gul visited the devastated school and attended the funeral of the principal who courageously tried to save her students from the deadly attack.
Video

Video Nigerians Fleeing Boko Haram Languish in Camp Near Capital

In its five-year effort to impose Islamic law in northeastern Nigeria, the Boko Haram extremist group has killed thousands of people and forced hundreds of thousands to flee. Some of those who ran for their lives now live in squalor on the edges of the capital, Abuja. Chris Stein reports for VOA.
Video

Video Aceh Rebuilt Decade After Tsunami, But Scars Remain

On December 26, 2004 there was an earthquake in the Indian Ocean so powerful it caused the Earth’s axis to wobble a few centimeters. Onshore on the island of Sumatra, the resulting tsunami was devastating. A decade later, VOA Correspondent Steve Herman reports from Banda Aceh, Indonesia, where although there is little remaining evidence of the physical devastation, the psychological scars among survivors remain.

All About America

AppleAndroid