U.S. no longer number one in competitiveness

Megan Henney reports in Fox News that the U.S. is no longer the world's most competitive economy. Singapore is number one, Hong Kong is number two, and we are number three. China is number 14.

The United States no longer has the most competitive economy Opens a New Window. in the world, according to annual rankings compiled by the Switzerland-based business school IMD.

To determine the results, the study incorporated 235 indicators from each of the ranked 63 economies, taking into account statistics like unemployment, GDP and government spending on health and education, as well as issues like social cohesion, corruption and globalization.

...The U.S. dropped down to third on the list, thanks to higher fuel prices, weaker high-tech exports, fluctuations in the value of the dollar and the fading impact of President Trump’s massive tax overhaul.

...Here’s a look at the 20 most competitive economies, according to IMD.

1. Singapore

2. Hong Kong SAR

3. United States

4. Switzerland

5. United Arab Emirates

6. Netherlands

7. Ireland

8. Denmark

9. Sweden

10. Qatar

11. Norway

12. Luxembourg

13. Canada

14. China

15. Finland

16. Taiwan, China

17. Germany

18. Australia

19. Austria

20. Iceland

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