U.S. Falls to Fifth Place in New Report Identifying the World's Most Competitive Economies
More evidence the American economy is slowly sinking comes from The World Economic Forum's new Global Competitiveness Report 2011-2012, which places the U.S. as the fifth most-competitive economy in the world.
Klaus Schwab, World Economic Forum (9/9/2011)

More evidence the American economy is slowly sinking comes from The World Economic Forum's new Global Competitiveness Report 2011-2012, which places the U.S. as the fifth most-competitive economy in the world.

That's somber news, considering the U.S. had claimed the first spot on the Forum's list in 2008-2009, the second position in 2009-2010, and the fourth position in 2010-2011.

The Geneva-based organization has issued these rankings for over 30 years, and bases them on a survey of 15,000 business executives along with key economic data.

Top dog economy? Switzerland, for the third year in a row. It earned this position, said the Forum, due to "continuing strong performance across the board" as well as factors such as innovation, technological readiness, even-handed regulation, and having one of the world's most stable economic environments.

Here is the list of this year's top 10 global economies: