Survey: Switzerland most competitive economy; U.S. falls to fifth | AHN: Switzerland continues to lord over the world’s most competitive economies, according to a survey conducted by the World Economic Forum (WEF).
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The country’s first-rate public infrastructure, efficient public institutions and greatly developed markets all helped anchor Switzerland into an admirable economy. It also has low unemployment and debt levels.
"Switzerland's scientific research institutions are among the world's best, and the strong collaboration between its academic and business sectors, combined with high company spending on R&D, ensures that much of this research is translated into marketable products and processes," the WEF said.
Singapore and Sweden came next, at second and third respectively. The United States ranked fifth, falling for the third year in a row. The report noted the U.S. economy is extremely productive, with good universities, strong innovation, and a flexible workforce. However, the high levels of public debt and low levels of trust in political leaders conspired to pull down the country’s ranking.
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