(Oct 3): The US dropped from the top spot in the World Economic Forum’s annual competitiveness report, losing out to Singapore.
Hong Kong, the Netherlands and Switzerland made up the rest of the top five, according to the WEF survey published on Wednesday. On the US, it noted growing uncertainty among business leaders and said trade openness has declined.
The forum focused its report on continued low productivity growth a decade after the financial crisis, calling this the US$10 trillion question -- the amount injected by the world’s four major central banks through 2017. In line with others, its view is that while monetary stimulus helped pull the global economy out of recession, it wasn’t the solution for all problems.