Is the Competitiveness of the US on the Decline?

The answer to the question in the title of the post is yes, at least according to a survey conducted by the World Economic Forum. America's 7th place position is a result of four straight years of slippage, and places it between Germany and the UK. Meanwhile, those fearing the rise of China will find a quantum of solace in that nation's ranking, which though it leads its BRIC acronym-mates, is at 26 this year.

The survey ranks 144 countries on metrics such as infrastructure, macroeconomic environment and innovation. According to the World Economic Forum, the business community's lack of trust in government and the ongoing uncertainty over fiscal health are what caused this year's slide.

While nothing in this qualitative analysis should be surprising to those paying attention to the situation in the US, it is still disappointing to see uncertainties play so heavily into perceived economic strength. Here's hoping that America can get its groove back as it takes time to turn perceptions, and, correct or not, perceptions matter on the global stage.

No comments:

Post a Comment