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U.S. Falls to Fifth Place in New Report Identifying the World's Most Competitive Economies

Klaus Schwab, World Economic Forum (9/9/2011)

LINK: World Economic Forum: The Global Competitiveness Report 2011-2012

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:

1) Switzerland

2) Singapore

3) Sweden

4) Finland

5) United States

6) Germany

7) the Netherlands

8) Denmark

9) Japan

10) United Kingdom

LINK: World Economic Forum: The Global Competitiveness Report 2011-2012

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Klaus Schwab, World Economic Forum

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