Business

Report: U.S. Is Losing Competitive Footing

BEIJING — The U.S. has slipped down the ranks of competitive economies, falling behind Sweden and Singapore due to huge deficits and pessimism about government, a global economic group said Thursday.

Report: U.S. Is Losing Competitive FootingSwitzerland retained the top spot for the second year in the annual ranking by the Geneva-based World Economic Forum. It combines economic data and a survey of more than 13,500 business executives.

Sweden moved up to second place while Singapore stayed at No. 3. The United States was in second place last year after falling from No. 1 in 2008.

The WEF praised the United States for its innovative companies, excellent universities and flexible labor market. But it also cited huge deficits, rising government debt and declining public faith in politicians and corporate ethics.

“There has been a weakening of the United States’ public and private institutions, as well as lingering concerns about the state of its financial markets,” the group said.

Mapping a clear strategy for exiting the huge U.S. stimulus “will be an important step in reinforcing the country’s competitiveness,” it said.

The report was released in Beijing ahead of a WEF-organized gathering of global business executives next week in neighboring Tianjin. The group is best known for its annual Davos meeting of corporate leaders.

The report ranks 139 countries by assessing business efficiency, innovation, financial markets, health, education, institutions, infrastructure and other factors.

The United States was followed by Germany, Japan, Finland, the Netherlands, Denmark and Canada.

Switzerland held its top rank due to its strong innovation, evenhanded regulation and one of the world’s most stable economic environments.

The WEF cited education and regulation as key areas for improvement in a number of economies and warned leaders not to lose sight of long-term needs as they struggle with the global crisis.

“For economies to remain competitive, they must ensure that they have in place those factors driving the productivity enhancements on which their present and future prosperity is built,” one of the report’s co-authors, Columbia University economist Xavier Sala-i-Martin, said in a statement.

China performed best among major developing economies, rising two places from last year to 27th based on its large and growing market, economic stability and increasing sophistication of its businesses.

Japan gained two places, helped by strong innovative abilities, though its status was hurt by the country’s two-decade-old financial malaise.

Greece plunged 12 places to 83rd, plagued by a debt crisis and mounting public concern about corruption and government inefficiency, according to the WEF.

Comments (40)

  • Resolved
    Posted on September 11, 2010 at 3:10pm

    That kind of makes me want to puke…

    Report Post » Resolved  
  • Resolved
    Posted on September 11, 2010 at 3:09pm

    So let me get this straight. We‘ve lost places because our market doesn’t have ENOUGH regulation???

    Report Post » Resolved  
  • rdk
    Posted on September 10, 2010 at 11:43am

    Fourth place is not the worst news that could happen. The top ten are still quite competitive. The great danger is that the USA , under the heavy hand of the Obama Administration, will drop out of the top ten.

    Report Post »  
  • printdesignchicago.com
    Posted on September 10, 2010 at 10:23am

    well, if TPTB hadn’t strangled business for the last 50 years with overpaid union labor and regulations – American manufacturing wouldn‘t have been outsourced to places with cheap labor and we’d have a MUCH better economy overall.

    hell, we’d even be able to PLAN OUR OWN RETIREMENT instead of relying on the nanny state.

    Report Post » printdesignchicago.com  
  • hempstead1944
    Posted on September 10, 2010 at 9:15am

    Make that “lost” competitive footing……close the barn door, the horse left quite awhile ago……

    Report Post »  
  • rashjoka
    Posted on September 10, 2010 at 9:10am

    Why is it everyone else in the world can see what is happening to our great Country but the liberals either can’t see it or choose to ignore it.

    Report Post »  
  • jeff williams
    Posted on September 10, 2010 at 7:26am

    Somehow it must be Bush’s fault

    Report Post »  
  • truthseeking
    Posted on September 10, 2010 at 2:07am

    For all the fear about socialist political concepts, it’s hard to miss the fact that Switzerland and Sweden are near the top, despite learning toward being social democratic states…not to mention the fact that Norway, Finland and Denmark are also in the top ten:

    http://www.weforum.org/en/initiatives/gcp/Global%20Competitiveness%20Report/index.htm

    Report Post »  
  • K.G.
    Posted on September 10, 2010 at 1:02am

    Entitlements. Hunger is a great motivator, but the country’s safety nets have become hammocks. Everybody believes they will be taken care of whether they get a decent education or not–and they will until the whole rotten country drops from its own bloated weight. In addition, the war fought in colleges in the 60′s between Right and Left was won by the latter. Our so-called education system grinds out more and more goofy-thinkers. It doesn’t help that the journalism and education departments are the most liberal. We’ve been warned for decades. The proud progressive poo-poo train has left the station.

    It’s gratifying that many are recently seeing the light, but even the most hard-core conservative is unlikely to forgo his Social Security or Medicare benefits for the good of the rising generation. So much for our sacred honor securing the blessings of liberty for our posterity, who are a bunch of dimwits anyway–collectively speaking.

    Report Post »  
  • EqualJustice
    Posted on September 10, 2010 at 12:30am

    Wow, this must really surprise Obama and Co! (sarcasm intended)

    PS: All the lefties posting here, GREAT SITE, right? Try to LEARN something while you’re here. We love to see you so upset and attacking us. It just means we are winning and you hate it! :) and BTW, some of you think your remarks are clever…. please know that we are NOT laughing with you..
    we are laughing AT YOU! :) HAHAHAHAHA I can not WAIT to post on November 3rd!!

    Report Post » EqualJustice  
  • Midwest Belle
    Posted on September 9, 2010 at 11:13pm

    When I read many comments here at the Blaze, I see how poor our education system is.

    How many of you notice the mis-use of words (such as they’re, there and their) not to mention the blatant misspellings — text type abbreviations are one thing, poor spelling is another. Id’ say education has been declining for a long time. Young people can’t spell, can’t write in script (but print everything like a second grader instead) and couldn’t calculate their way out of a box. Half of our young people can’t put together a coherent sentence, can’t express a thought well enough to get their point across.

    This is what comes from not failing students. If they fail, they KNOW they have to improve and work harder at it. If the teacher(s) accept their junk-homework as legitimate, how will children EVER learn? Young people don’t READ any more – preferring to be entertained by the boob-tube or you-tube or video games.

    Young people can’t get along with others, even though they are thrown together in school situations. We have bullies that don’t get “dealt with”, we have playground restrictions so no one gets hurt. Sad. A few scraped knees teaches a kid that you can’t do stupid stuff without consequences. And we have parents who sue at the drop of a hat.

    This is what comes from giving everybody a trophy for playing – win or lose. We have kids who complain it’s “not fair” if they never win. They never win because they don’t put forth the effort. We’ve taught our kids to be lazy.

    Sad state of affairs if you ask me.

    Report Post » Midwest Blonde  
  • Ammonihah
    Posted on September 9, 2010 at 11:10pm

    America is stumbling (has been stumbling) for some time because of the easiness of the way and because we turned our trust to man instead of God for security. The American prophet Joseph Smith translated some writings that actually talk about this time we are in right now.

    ” 1 And it shall come to pass, that if the Gentiles shall hearken unto the Lamb of God in that day that he shall manifest himself unto them in word, and also in power, in very deed, unto the taking away of their stumbling blocks—
    2 And harden not their hearts against the Lamb of God, they shall be numbered among the seed of thy father; yea, they shall be numbered among the house of Israel; and they shall be a blessed people upon the promised land forever; they shall be no more brought down into captivity; and the house of Israel shall no more be confounded.
    3 And that great pit, which hath been digged for them by that great and abominable church, which was founded by the devil and his children, that he might lead away the souls of men down to hell—yea, that great pit which hath been digged for the destruction of men shall be filled by those who digged it, unto their utter destruction, saith the Lamb of God; not the destruction of the soul, save it be the casting of it into that hell which hath no end.
    4 For behold, this is according to the captivity of the devil, and also according to the justice of God, upon all those who will work wickedness and abomination before him.
    5 And it came to pass that the angel spake unto me, Nephi, saying: Thou hast beheld that if the Gentiles repent it shall be well with them; and thou also knowest concerning the covenants of the Lord unto the house of Israel; and thou also hast heard that whoso repenteth not must perish.
    6 Therefore, wo be unto the Gentiles if it so be that they harden their hearts against the Lamb of God.
    7 For the time cometh, saith the Lamb of God, that I will work a great and a marvelous work among the children of men; a work which shall be everlasting, either on the one hand or on the other—either to the convincing of them unto peace and life eternal, or unto the deliverance of them to the hardness of their hearts and the blindness of their minds unto their being brought down into captivity, and also into destruction, both temporally and spiritually, according to the captivity of the devil, of which I have spoken. ”

    The context is http://scriptures.lds.org/en/1_ne/14/1#1

    There is a way out of every perplexity we are currently in if America will turn to God and let the consequences follow. We are only captive as a country because fear, laziness, and entitlements that come from the wicked seem too hard to give up.

    Report Post »  
  • PeterThePainter
    Posted on September 9, 2010 at 10:53pm

    Seems to be a spiral downward. No one talks about the base reason for such a down turn in our Country. Real Estate values….

    Lets look back to 2008.

    Foreclosures soaring….

    Moratoriums…More moratoriums…Modifications…2009…Hamp program…Work outs…the Government interventions were prevalant.

    During this time the Government or Fannie/Freddie were constructing a structure throughout the U.S. for property management.

    Since the begginning of 2009 homeowners were offered a lease back “option” on their property after the foreclosure. In other words…I lost my house and don’t have to move…because I now have an affordable lease payment based on my income. You drive by these homes everyday.

    Now 2010…The Chinese are buying a lot of foreclosed properties with cash. The powers that be are going through their transactions asking where the money came from and requiring a 30% fine…Chinese newspapers are saying stop your investments.

    FHA is the 1 primary home buying purchase source…This month FHA has increased its MIP or Mortgage Insurance Premium and Annual Premium 100%…meaning a homeowner will now pay roughly $100.00 per month on a mortgage payment.

    Now…we have an enormous volume of foreclosed/leased back properties, foreclosures that are active and homes that have been sitting without foreclosure notices made. In my area, I am aware of many homeowners that have not made a mortgage payment in 12-24 months and do not have a default notice filed on their home. So I would think they are not included in the statistics.

    The latest…Fannie comes out with State guidelines on all the Banks over “why” they have not foreclosed on properties. The giudelines give States what they consider to be a reasonable amount of time…North part of NY is 300 days. Other States 185 days. The banks now have to prove why they did not foreclose of face fines.

    So, looks like there may be a wave comming at the direction and causation of our leaders…which a reasonable person would think …they may want property values to go further down…cause more foreclosures and we can all lease from the Government base on our ability to pay.

    Last but not least…there is a renewed effort to eliminate the Mortgage Interest Deduction for taxes.

    Painting a picture…investigate

    Report Post »  
  • rocktruth
    Posted on September 9, 2010 at 10:25pm

    Laziness and Gluttony In the name of Tolerance.
    BUT DON’T SPEAK OUT AGAINST IT BECAUSE YOU WILL BE CALLED A RACIST!

    Report Post » rocktruth  
  • rocktruth
    Posted on September 9, 2010 at 10:20pm

    Just after World War II, under the auspices of the American occupation, Dr. Deming went to Japan and gave a series of courses to business executives there on the essentials of quality and productivity in manufacturing. Unlike the American audiences, the professor’s Japanese students took the lesson to heart and began to apply his teaching across the board.

    “The Japanese businessman is never too old or successful to learn,” the crusty statistician says today. “Americans–you can’t teach them anything. An American businessman is afraid that if he asks questions, he’ll be considered unqualified…but the Japanese is afraid that if he doesn’t, he’ll miss something worthwhile.”
    http://aliciapatterson.org/APF0605/Reid/Reid.html

    Japans strategy: Get the USA addicted to video games and with all our entertainment devices.

    Dr. Deming came to his own, but his own accepted him not until over 2 decades later.
    When he arrived in Japan, the Japanese said “When the student is ready the teacher will appear.”

    Save USA Jobs one Shirt at a Time!
    http://www.allamericanclothing.com/products/AAJOBS.html

    http://www.howtobuyamerican.com
    http://www.americansworking.com/
    http://www.madeinusa.org/

    Report Post » rocktruth  
    • notimeforthis
      Posted on September 9, 2010 at 10:47pm

      Than you for the lead on reading about Dr. Deming. It is important to listen to our older and wiser teachers. However, many of the youth in America do not want to hear about hard work as a means to success. Our culture also shows contempt for anyone over 60. It’s amazing that any executives think they could learns something from a man that is 82. In Asia they respect their elderly. In America we are considered a healthcare liability to the young.

      Report Post »  
    • rocktruth
      Posted on September 10, 2010 at 3:30am

      notimeforthis: You’re absolutely right. I was always taught that hard work is very honorable. But what can we do? I believe there is always hope. Let’s continue to pray for our children and encourage parents how teach them what true honor really is. Hard work, study long, less play, rewards are not free but we earn them, less TV & video games, how to respect your elders, and the 10 commandments like honor your mother and father. Don’t forget bible studies.

      Parents & their kids should sometime volunteer their time to their community instead of watching a movie.

      What else can we do?

      Report Post » rocktruth  
    • baldwin4freedom
      Posted on September 10, 2010 at 8:24am

      Honor is a big part of their culture in Japan. This is the main reason that they have survived as long as they have.

      These video games have destroyed our youth. They cannot handle working for someone. They are weak on the job. I know from experience because I have a construction company. You may find a top hand after you go through 1000 people. It is horrific.

      Report Post »  
  • LoisLane1951
    Posted on September 9, 2010 at 9:57pm

    “Report: U.S. is Losing Competitive Footing”

    duh

    Report Post » LoisLane1951  
  • D.W.
    Posted on September 9, 2010 at 9:52pm

    Duhh
    1) We have a minimum wage that other countries do not have so businesses go outside the U.S. for labor or go out of business. Manufacturing has dropped significantly to maybe 10% of the economy.
    2) The education system sucks! I have had recent discussions with colleagues at major universities who complain of the poor math and science abilities of the students entering college. Some courses are being dumbed down!
    3) Businesses have moved R&D and software offshore to India and China. I have personally witnessed the loss of IP in this process with foreign worker turnover…
    4) Unions are a big problem and have killed many businesses, rubber, steel and automotive… Once a union is formed they have a labor monopoly. Honda, Toyota… builds in right to work states so they don’t have the pension and labor burden that the big three have. I again personally witnessed a company opening their books to the union as they were not profitable and needed concessions. The union wouldn’t budge so that branch of the business was sold with manufacturing jobs moving to Mexico. The union lost those jobs.
    5) With the bankruptcy of GM, 200 years of contract law was broken as bond holders took a back seat at 5c on the dollar and the unions got part ownership when they had no stake.

    Report Post »  
    • notimeforthis
      Posted on September 9, 2010 at 10:15pm

      DW all your points are valid! We are so seriously ill here in America that common sense has been spinned out of most Americans. This did not happen overnight! Back in the 60′s my family members would say that everything is going out of the country to be made. The reasons they gave then were that workers will work cheap in Asia and no unions. So who is our presidents biggest allie, the unions!
      I predict a faster death with Dr. Kavorkian on board! Unions were dying before they infiltrated the democratic party! Now they are the cancer attached to our government! We are in serious trouble.

      Report Post »  
  • redneckphilosopher
    Posted on September 9, 2010 at 9:50pm

    How have we fallen so far? For me the common denominator is the the farther away from God’s side we get the farther we fall in all categories. I am a conservative to the bone and will always vote that way but if conservative politicians don‘t move us back to God’s side we will just continue the same old cycle and maintain the status quo. I would love to see God’s favor in our nation again.

    Report Post »  
    • baldwin4freedom
      Posted on September 10, 2010 at 8:11am

      How have we fallen so far? Yes, lack of God is key on the morality of our society, but here are some other points.

      We do not teach our kids anything anymore, generally, and trust the schools will handle it. Our kids do not learn how to work at a young enough age for it to be ingrained in their nature. We are teaching our children bad work ethic and they end up with a lack of diversity in working skills.

      The government has taken over the charities. It may have started with good intentions, but human nature does take advantage of these programs. This is why the entitlement mentality has run so deep into all living generations in our Country. If charity was back at a local level then people would be more easily held accountable be their peers.

      On us thinking that voting for conservatives is the key is our failure. The reason the socialist, marxists have been winning is because they have been pro-active in implementing their agendas at a local level. It did not help when FDR instituted social security, but We The People were a more self reliant society until the sixties, this is where we fell off the cliff.

      If we are going to fix our Country we must look in the mirror, start correcting ourselves and supporting those close to us. Take away the government’s power by not accepting any help from them. This is going to take a long time and we must live by example, with conviction.

      Report Post »  
  • Rose2010
    Posted on September 9, 2010 at 9:25pm

    Has anybody seen the movie “Idiocracy”? That’s us. We’re becoming dumber and dumber all the time. Watch the movie – it’s our future. I think this republic has just about run its course.

    Report Post » Rose2010  
    • RealityCheck
      Posted on September 9, 2010 at 9:40pm

      Yep, as an example of Idiocy

      ” We must pass the bill to find out what’s in it.”

      Report Post »  
    • GlennBeckIsADemagogue
      Posted on September 9, 2010 at 9:57pm

      My favorite line: “You like money? Wow, so do I! We should get together sometime.”

      Seriously though folks… you gotta stop relying on Fox and talk radio for all your news. The right is getting dumber and dumber, and that is why. If you want to change things, challenge yourself by expanding your horizons and reading. Why do you think Sarah Palin couldn’t list any newspapers or magazines she read routinely?

      GlennBeckIsADemagogue  
    • poppopschell
      Posted on September 9, 2010 at 11:07pm

      Demogogue, please fill me in on how I can expand my reading base to be more intelligent like you. OK?

      Report Post »  
    • Prospero
      Posted on September 10, 2010 at 1:01am

      Troll writes: “The right is getting dumber and dumber”

      Really. And yet, aren’t you the one who is incapable of realizing the glaring and obvious flaw in comparing international mortality rates?

      I also find it amusing that anyone who makes broad, simplistic assumptions…such as “we get all our news from Fox and talk radio”, or that reading newspapers and magazines or other antiquated forms of information is beneficial, would assume he has a superior intellect.

      Then there’s just the basic fact that you simply make empty assertions, and are incapable of formulating complex ideas.

      Your every post indicates a shallow mind, lacking fundamental human observational ability. How you imagine that juvenile taunts and bumper sticker talking points demonstrate intellect is unfathomable.

      Report Post » Prospero  
    • Beckofile
      Posted on September 10, 2010 at 8:33am

      Palin was in a catch 22. If she listed Time, Newsweek, NY Times or any progressive reading you need for you indoctrination she would have ran off her supporters. If she listed Constitution, Federalist Papers or the Declaration of Independance she would have created a fire storm from progressive jackasses like you. She is so smart a 4 year indoctrination station grad like you can’t figure her out:)

      Report Post » Beckofile  
  • Hobnob
    Posted on September 9, 2010 at 9:20pm

    We have the freedom to be ignorant and public education to back it up. Failure to eliminate the socialist agenda in our public schools will lead our nation further into this crisis.

    Report Post » Hobnob  
    • BereanBrown
      Posted on September 9, 2010 at 11:21pm

      I was thinking along those lines… they think we have “excellent universities” – yea maybe the ones that don’t accept federal funding…

      Report Post »  
  • GlennBeckIsADemagogue
    Posted on September 9, 2010 at 9:17pm

    Yeah, but I bet our infant mortality rates beat theirs!

    GlennBeckIsADemagogue  
    • Prospero
      Posted on September 10, 2010 at 12:50am

      All mortality rates in America are superior to any other country, Troll. Which is why the wealthy from around the world come here for treatment.

      As regards infants, America counts every infant who is born showing any sign of life as a live birth. Not so with any other nation.

      For instance, due to their inferior medical technology, Canada, Germany, and Austria don’t count any baby that weighs less than 500grams a living child. In these countries, they cannot save a baby that underweight. In America we count them as live births, and strive to save them. We save about 20% of them, the remaining 80% count as an infant mortality. We don’t consider them “unsalvageable” as do so many other countries.

      Likewise, many countries don’t count any baby that dies in the first 24 hours as a live birth. Hong Kong and Japan count such births as miscarriages.

      Anyone with a knowledge of statistics….even a rudimentary knowledge…would already grasp the fact that lacking an international definition of “live birth”, no reliable comparison is possible.

      To judge a nation’s medical system, it is appropriate to look at procedures wherein the efforts of doctors have a reasonable influence on the outcome, such as cancer survival rates, etc. In all such areas, America blows the rest of the world away.

      Report Post » Prospero  
  • poppopschell
    Posted on September 9, 2010 at 9:08pm

    Frankly, the USA will go down in history as among the stupidist people in history. We had the liberty, relative equality, and great financial success in all history. I don’t have high hopes that we will be able to turn our country around. People in general are in denial, scared but in general NOT willing to step up and be counted. The 2010 elections are NOT likely to help really turn us around UNLESS>>> every tea Party Constitutionalist running is elected.

    Report Post »  
    • BoatFix
      Posted on September 9, 2010 at 9:59pm

      The Silent Majority is not being silent anymore.
      If the wave of change is not significant in the next two elections cycles at all levels, then buy more ammo. We’ll need it.
      That being said, I’m very optimistic about our future.

      Report Post » BoatFix  
    • poppopschell
      Posted on September 9, 2010 at 11:05pm

      Look at the voter turnout, not just the results. IF Americans are awakening, I would ewxpcet at least 75% of registered voters to cast a ballot. Just will have to wait and see if your optimism is justified. Aslenn would say, I hope I’m wrong.

      Report Post »  
  • shotgun
    Posted on September 9, 2010 at 9:07pm

    Thanks Obama!

    Report Post » shotgun  
    • iatoala
      Posted on September 9, 2010 at 10:04pm

      What did Michael Dukakis Say? A fish rots from the head down! Potus sucks!

      Report Post » iatoala  
    • Beckofile
      Posted on September 10, 2010 at 8:25am

      Change the title…..AS THE US LOSES LIBERTY IT LOSES ITS FINANCIAL FOOTING. We are idiots produced by a progressive school system. Gold, Guns and God

      Report Post » Beckofile  
    • Stuck_in_CA
      Posted on September 10, 2010 at 11:04am

      Much of the economic woes can be traced back to the so-called “Free Trade” policies. Bring back the factories, by bringing back import tariffs, similar to what The Founders put in place. Stop the tax breaks for companies that relocate off-shore.
      By decimating the industrial base, more “make-work” jobs MUST be created. Thus, bigger government, and “Central Planning” thrive.

      Report Post » Stuck_in_CA  

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