United States Sees End of 3-Year Rule as World's Most Competitive Economy Elena Toledo - PanAm Post
go to original June 6, 2016

The United States is no longer the leader in economic competition falling to the 3rd position. (Summa)

Mexico fell six places in 2016 global competitiveness rankings in the Global Competitiveness Index IMD, which analyzes 61 economies and was prepared by the Business School of Switzerland.

Mexico now occupies the 45th position, having fallen from last year’s 39th spot.

Meanwhile, the United States lost the lead in competitiveness after three years of leadership, and now occupies the third-place position. The most economically competitive countries are now China and Switzerland, respectively.

“The United States still has the best economic performance in the world, but there are other factors taken into account when assessing competitiveness. The absolute power of the US economy is no longer enough to keep it as leader,” Director of the IMD Competitiveness Center Arturo Bris said in a statement.

After the United States, the list reads: Singapore, Sweden, Denmark, Ireland, the Netherlands, Norway and Canada — making them the most competitive economies worldwide.

Meanwhile, the index reports that Chile is placed in the best position of all Latin American nations, at 36th — just behind Mexico. Argentina occupies the 55th position and is the only one in  South American that improved its position over the previous year. Venezuela, as expected, is ranked last, at 61st.

Read the rest at PanAm Post | Español

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