U.S. Leapfrogs Singapore, Hong Kong to Win World’s Most Competitive Economy

[GennGreymane]

https://www.bloomberg.com/news/artic...tiveness-crown

he U.S. dethroned Hong Kong to retake first place among the world’s most competitive economies, thanks to faster economic growth and a supportive atmosphere for scientific and technological innovation, according to annual rankings by the Switzerland-based IMD World Competitiveness Center.

Back on Top
U.S. retakes competitiveness crown from Hong Kong in 2018 world rankings

Hong Kong, scoring first in categories for government and business efficiency, held an edge over regional rival Singapore, which kept its No. 3 spot from 2017. Rounding out the top five were the Netherlands, which jumped one spot, and Switzerland, which tumbled three slots as it endures a slowdown in exports and concerns about its potential relocation of research and development facilities.

The U.S., which reclaimed the No. 1 spot for the first time since 2015, scored especially well in international investment, domestic economy and scientific infrastructure sub-categories while earning below-average marks in public finance and prices.

The renewed top ranking aligns with the positive U.S. growth narrative over the past year. Growth averaged 2.9 percent in the four quarters through March, versus 2 percent in the prior period.

Regaining Strength
U.S. growth has slowly, surely gained momentum in the past year

Notable improvements in the rankings from last year included Austria, which advanced seven spots to 18th position, and China, which jumped five spots to No. 13. For China, the world’s second-biggest economy, investment in both physical and intangible infrastructure and adjustments to regulation helped boost its performance, according to Arturo Bris, director at the IMD.

As with Bloomberg Innovation Index rankings earlier this year, economies in northern Europe outperformed. Denmark, Norway, and Sweden were among the top 10 in IMD’s rankings, while the United Arab Emirates was the sole Middle Eastern nation to be included.

At the bottom of the rankings were some usual suspects, with embattled Venezuela still ranked as the worst. Mongolia maintained its spot as second-to-last of the 63 economies. Brazil showed an improvement, with some healing in growth and hiring.

IMD used 258 indicators on economic performance, government efficiency, business efficiency and infrastructure, and gave weight to “hard” data, including trade statistics, twice as heavily as “soft” sentiment data. The group has published the results every year since 1989.

[arandomuser]

Bloomberg owned by billionaire businessman, trying to persuade public opinion to make people like policies that favor billionaire businessmen. nothing fishy at all 100% legit, yeah lets be more like singapore, a de facto police state where any minor crime is a capital offence and its ran by a dictator, or hong kong, a city state of communist china, so much freedom and capitalism!, remember when conservatives also cared about personal liberties and morales of individualism?? now its all about how much money and power they can give the fewest people.

[Allybeboba]

Two thumbs up for the USA!!

Cheers

[GennGreymane]

He still does. He claims we have hundreds of years of clean coal waiting to be mined up...

Maybe we do if we dig hard enough

[GennGreymane]

I’m not sure I want to dig that deep...

Listen, China might just have to accept it.

[Milchshake]

https://www.bloomberg.com/news/artic...tiveness-crown

I'm suspicious of any organization based in Switzerland. Between FIFA and all that Nazi Gold, they dont have much credibility in my book.

Arturo Bris, director at the IMD

, even his name sounds like a Bond Villain. Or someone that could be running FIFA.

[Sunseeker]

It's Singapore and Hong Kong....is this an achievement?

[Surfd]

I’m not sure I want to dig that deep...

I say go for it. Kick off the chthonic apocalypse a few years early.

[GennGreymane]

It's Singapore and Hong Kong....is this an achievement?

They are pretty good at what they do, especially Singapore.

[GennGreymane]

What they do being authoritarian?

1 in 6 Singaporeans are millionaires

[Deleted]

Bloomberg owned by billionaire businessman, trying to persuade public opinion to make people like policies that favor billionaire businessmen. nothing fishy at all 100% legit, yeah lets be more like singapore, a de facto police state where any minor crime is a capital offence and its ran by a dictator, or hong kong, a city state of communist china, so much freedom and capitalism!, remember when conservatives also cared about personal liberties and morales of individualism?? now its all about how much money and power they can give the fewest people.

Indeed comrade; all fascist propaganda. North Korea best Korea and Venezuela bestest economy. Socialismo o muerte!

[PosPosPos]

Bloomberg owned by billionaire businessman, trying to persuade public opinion to make people like policies that favor billionaire businessmen. nothing fishy at all 100% legit, yeah lets be more like singapore, a de facto police state where any minor crime is a capital offence and its ran by a dictator, or hong kong, a city state of communist china, so much freedom and capitalism!, remember when conservatives also cared about personal liberties and morales of individualism?? now its all about how much money and power they can give the fewest people.

You can't be further away from the truth, but that is to be expected because your worldview is limited to the shitty mass media you hang onto.

[Isadora]

I'm suspicious of any organization based in Switzerland. Between FIFA and all that Nazi Gold, they dont have much credibility in my book.

, even his name sounds like a Bond Villain. Or someone that could be running FIFA.

You are kidding, right? We have 8 million people living here, most of us don't own any Nazi gold or are part of FIFA. There's many things that are wrong with Switzerland, but basing that stuff on the fact that the FIFA was founded here (and as of today still has its headquarters here) and the fact that the banks handed the nazi gold poorly is a bit weird.

[Deleted]

They don't think it be like this, but it do.

[Shelly]

Good for the US, but I think we'll have to wait and see how things are placed in 2019 when the Trump tax plan really comes into effect. If government revenues are deeply down it could be a pretty far tumble down the list.

Also does the list adjust for companies that have done that inverted merger thing and are now technically located overseas in tax havens?

[Milchshake]

You are kidding, right? We have 8 million people living here, most of us don't own any Nazi gold or are part of FIFA. There's many things that are wrong with Switzerland, but basing that stuff on the fact that the FIFA was founded here (and as of today still has its headquarters here) and the fact that the banks handed the nazi gold poorly is a bit weird.

I'm not kidding when I'm this snarky. And I'm not backing down. Because it only gets more suspicious, as Switzerland is the home of Nestlé. The real-life Bond Villains that buy up water supplies, back dictators to capture water supplies. The same Nestlé that Wants to Sell You Both Sugary Snacks and Diabetes Pills. Nazi Gold was just that one weird trick to kickstarter a nefarious scheme. That same Nestlé that probably funds the IMD World Competitiveness Center.

Ladies and Gentlemen of the shitposting jury, I rest my case!

/s

[Rasulis]

You can't be further away from the truth, but that is to be expected because your worldview is limited to the shitty mass media you hang onto.

You are talking to somebody who probably has never even stepped out of his state.

[Sorshen]

Do you americans feel the economy trickling down on you yet?

[PosPosPos]

You are talking to somebody who probably has never even stepped out of his state.

Oh, I am well aware.

Everytime I see Americans shitpost about places like Singapore, Taiwan and Hong Kong I am reminded as to why they have Trump as president today.

At the very least, those places don't have dysfunctional leadership, and they don't run on crony capitalism like the US does.

[Isadora]

I'm not kidding when I'm this snarky. And I'm not backing down. Because it only gets more suspicious, as Switzerland is the home of Nestlé. The real-life Bond Villains that buy up water supplies, back dictators to capture water supplies. The same Nestlé that Wants to Sell You Both Sugary Snacks and Diabetes Pills. Nazi Gold was just that one weird trick to kickstarter a nefarious scheme. That same Nestlé that probably funds the IMD World Competitiveness Center.

Ladies and Gentlemen of the shitposting jury, I rest my case!

/s

Sorry dude, in these forums it's sometimes hard to discern