Because of the trade war .. America is falling in its competitive power in the world[/rtl]
[rtl]Date: 2019/10/10 7:49 • 131 times read[/rtl]
WASHINGTON (Reuters) - The United States has moved into second place after Singapore in its competitiveness, especially because of President Donald Trump's trade wars, according to a World Economic Forum report on competitiveness.
Since 1979, the forum, held every year in the Swiss resort of Davos, attended by the world's leading political and economic figures, has published a ranking of the best economies in terms of productive capacity and long-term growth.
"While the United States remains an innovative force," the report said, and the second economy in its competitiveness, some worrying indicators are emerging.
"It is important to make sure countries are open to trade," said Saadia Zahedi, director of the World Economic Forum, when asked about the impact of the Trump administration's customs sanctions.
She noted that there was no "specific data" on the impact but said the "sentiment" that accompanied the desire to invest in the United States was "down."
"In the end, it will affect long-term investment, the thinking of decision-makers, and the perception of non-American businessmen by the United States," she said.
Zahidi said the United States had lost first place because the hope for a healthy life was lower than in China.
Last year, the World Health Organization (WHO) said a baby born in China could live up to 68.7 years in good health, compared with 68.5 years for a baby born in the United States.
The report measures competitiveness based on a scale of 0 to 100, based on infrastructure, health, labor market, financial system, quality of public institutions and economic openness.
Singapore scored 84.8 out of 100. But the World Economic Forum noted that the country has benefited greatly from the transition of commercial navigation to its ports because of customs wars between the global economic powers.
The United States scored 83.7 points compared to 85.6 points in 2018.
Hong Kong advanced four places to third place with 83.1 points. However, the Forum noted that the data was gathered before the large demonstrations calling for democracy, which has been shaking weeks ago this former British colony.
The Netherlands moved from sixth place in 2018 to fourth place ahead of Switzerland