(AmericanProsperity.com) – The Institute for Management and Development (IMD), a Swiss-based business school, publishes a world economy competitiveness rating every year. It isn’t good news for the US.
These results are calculated based on surveys and statistics of various “institutions, policies, and factors” that affect the “productivity of a country.” This productivity then affects the prosperity of each country’s economy.
Which small economies were in the top three this year? What are the surprise changes since last year, and what factors might explain them? 🌎🌍🌏
— Institute for Management Development (IMD) (@IMD_Bschool) June 16, 2020
The US was at the number one spot in 2017, until Singapore stole the title for the most competitive country in 2018. But, the 2020 report showed more than just the USA falling 7 spots to 10th place. China also moved down 6 spots to 20th.
The IMD states the US-China trade war is the largest factor in the lower rankings for both countries. As the rest of the world grows weary of the growing uncertainty created by these tensions, other nations may begin to pull away from these two world powers.
There’s no doubt America is still one of the most influential nations in the world. Additionally, COVID-19 has thrown a wrench in everyone’s plans. Still, as the US finds its new place in an ever-changing world, it’s critical to continue our history as and secure our reputation as, an extremely strong, secure, and prosperous country.
~Here’s to Your Prosperity!
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