HOW LOW WILL THE U.S. GO?
by Sharon Rondeau
(Sep. 6, 2012) — The U.S. has dipped from fifth to seventh place in the world in the area of “global competitiveness,” or “productivity” according to a report by the World Economic Forum entitled “The Global Competitiveness Report: 2012-2013.”
The report measures “12 pillars of competitiveness” among 144 nations. Switzerland, Singapore, Finland, Sweden, the Netherlands, and Germany were ranked higher than the United States in the latest report.
Factors which affected the rating “a continued lack of trust in government leaders on the part of the business community” and wasteful spending. Other factors which weighed against the U.S. were the “relative deterioration of its political and regulatory environment.”
The authors of the report stated that “The political brinkmanship in the United States continues to affect the outlook for the world’s largest economy, while the sovereign debt crises and the danger of a banking system meltdown in peripheral euro zone countries remain unresolved.”