redbloodedamerica:

bubobubosibericus:

redbloodedamerica:

Report: For the First Time Since 2008, the US Has Regained the Top Spot as the World’s Most Competitive Economy

By Kevin Ryan

The United States is once again the most competitive economy in the world. For the first time since 2008, the United States has been ranked #1 in the Global Competitiveness Report, a yearly publication by the World Economic Forum.

Under President Obama, the U.S. fell from 1st place, to as low as 7th. Not only has the U.S. returned to the number 1 position, but it has actually opened up a sizable lead over 2nd place Singapore.

The Global Competitiveness Report ranks how competitive a country’s economy is, based on 98 variables organized into twelve pillars:

1. Institutions
2. Infrastructure
3. Information and communication technology
4. Stable macroeconomic framework
5. Health
6. Skills
7. Product market
8. Labor market
9. Financial system
10. Market size
11. Business dynamism
12. Innovation

America’s vibrant entrepreneurial culture, dominant labor market, and nimble financial system “are among the several factors that contribute to making the U.S.’ innovation ecosystem one of the best in the world,” the report said.

However, America’s recovery “remains vulnerable to a range of risks and potential shocks,” the authors warned. They cite a brewing trade war between the U.S. and China as a possible hindrance to growth. Companies that have repatriated manufacturing to the U.S. say that tariffs are increasing their costs and making them less competitive.

SOURCE: http://www3.weforum.org/docs/GCR2018/05FullReport/TheGlobalCompetitivenessReport2018.pdf

“The Global Competitiveness index 4.0 captures the determinants of long-term growth. Recent developments are reflected only insofar as they have an impact on data

measuring these determinants. Results should be interpreted in this context.”

Component Worst performer vs Best performer

Security

1.01 Business costs of organized crime El Salvador vs Finland

1.02 Homicide rate El Salvador vs Japan

1.03 Terrorism incidence Pakistan vs Multiple

1.04 Reliability of police services Venezuela vs Finland

Social capital Burundi vs Australia

1.05 Social capital Burundi vs Australia

Checks and balances Chad vs Finland

1.06 Budget transparency Multiple Multiple

1.07 Judicial independence Bolivia vs Finland

1.08 Efficiency of legal framework in challenging regulations Venezuela vs Finland

1.09 Freedom of the press China vs Norway

Public-sector performance Venezuela vs Singapore

1.10 Burden of government regulation Brazil vs Singapore

1.11 Efficiency of legal framework in settling disputes Venezuela vs Singapore

1.12 E-Participation Lesotho vs Multiple

1.13 Future orientation of government Venezuela vs Singapore

Transparency Yemen vs New Zealand

1.14 Incidence of corruption Yemen vs New Zealand

Property rights Venezuela vs Singapore

1.15 Property rights Venezuela vs Finland

1.16 Intellectual property protection Venezuela vs Finland

1.17 Quality of land administration Sri Lanka vs Singapore

Corporate governance Haiti vs Singapore

1.18 Strength of auditing and accounting standards Angola vs Finland

1.19 Conflict of interest regulation Ethiopia vs Multiple

1.20 Shareholder governance Haiti vs Kazakhstan

You forgot something, I think.

The information is accurate.  You merely just pointed out the best and worst variable performers out of the first pillar.  The article does not allude that the United States is the top performer in every variable, but rather that it is the most ideal out of all variables within each pillar.  Considering it ranked 85.6, while the global median is 60.0