ZURICH – Northern European countries topped the overall ranking of a global competitiveness report released Wednesday by the World Economic Forum, as the United States slipped for the fourth year in a row.
“In addition to the burgeoning macroeconomic vulnerabilities, some aspects of the country’s [United States] institutional environment continue to raise concern among business leaders, particularly the low public trust in politicians and a perceived lack of government efficiency,” said the WEF, a think tank that also hosts the annual meeting of global business and political leaders in the Alpine town of Davos, Switzerland.
This year’s survey showed the U.S. fell to seventh position from fifth in the global ranking but the country remains an innovation powerhouse and its markets work efficiently, the WEF said.
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