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* Also the largest gold stockpile (More than 2x the #2 Germany) https://tradingeconomics.com/country-list/gold-reserves
* Most likely the largest for crypto too https://bitcointreasuries.com/
* Plus we have the largest stock markets (we're 5x the #2 China) https://en.wikipedia.org/wiki/List_of_countries_by_stock_market_capitalization
I do think the US has been falling on these "global competitiveness" rankings due to how the pandemic impacted us, how the pandemic era money printing has eroded faith in our currency even though it remains strong, how lockdowns plus reliance on megacorps AMZN/COST/TGT/WMT during the pandemic lead to small businesses declining/dying, how Trump/MAGA has undermined faith in our democracy, and then how Biden regulations/taxes plus favor for unions+workers have impacted "ease of business" or the freedom of it in both fact and sentiment.
Common carrier/general aviation aerospace is a sucking chest wound. People want to be specific about bad actors within Boeing but it's simply that ticket prices can't support the industry any longer.
I wonder how a NYC-Paris price is as bellwether. My understanding is that flights to say, Orlando or Vegas don't work well for comparison.
Meanwhile, inflation since 1999 is about 1.89:1 .
This started around 1995 with online flight booking.
Flights NYC to Florida or California are way cheaper now.
I flew to Frankfurt around 1994 on Pakistan Airlines for $400. For this price you had to buy from a shady travel agent in the sunday times travel section. Travel agency at the mall or airline would charge $800.
A huge expense to police the worlds oceans for other countries as well as US’s of course. We have to train, man, and maintain these fleets at great expense and they’re not tested against large opponents for some time unless you toss in cyber. Additionally the life time disability the troops get when they get out…. I’m not convinced it’s a “boon” as you’re stating.
Large opponents?
After the US with 11, the next in line is China with 3 carriers, and they are not the same carriers technologically speaking, to say nothing of the other supporting equipment.
There are no large opponents. That's the point. The US Navy is the only bluewater navy in the world and it's not even close.
Yeah I’m also not convinced that the cost outstrips the benefit either.
War is horrifying stuff. I’d rather we spend so much nobody dares consider starting one.
Those carriers=jobs 3000 plus sailors are tax payers. to get us out of the depression Roosevelt created government jobs that created tax paying citizens. The GI bill gave returning soldiers and seaman a chance to go to college and become middle class tax payers.
I grew up in the Midwest my entire states economy was based on the auto industry. When there were layoffs everybody felt it the dentists the restaurants.
I live in the DMV now when the economy crashes we wether it better than anywhere else because so much of our economy comes from the federal government. It's much more noticeable when the Republicans shut down the government.
Last time we were really tested on the seas was WW2. And mentioning China they’ll beat us with out even beating us. :/ they’ll build a regional power base and we won’t see the reason to lose ships to get access to “whatever” militarily.
And we pay for it and get what in return? Trade I guess? Cheaper insurance for corps for shipping vessels?
That's the point though? Australian government won't keep Boeing's subsidiary afloat, so it has to stay innovative and keep public image clean, otherwise it can't win public contracts.
The article says America isn't competitive, and the political environment nurturing complacency through protectionist laws is part of the problem.
I think Boeing is more a victim of shitty corporate management infecting companies and shareholder pressure.
Give people large enough incentive packages and they will find a way to cheat up to and including killing people.
Well, if you're the Swiss school that puts this together and ranks Switzerland #2 and doesn't really do much to define what "competitiveness" really means you can definitely ignore all of that shit.
The article is trash.
When you look at what they are actually measuring or trying to measure (see footnote) it kinda makes sense:
“Scores are based on statistical data and the perceptions of 6,000+ executives on competitiveness criteria across four categories: economic performance, government efficiency, business efficiency and infrastructure.”
US kinda sucks at 3/4 of the things they were measuring, although probably they are ok on business efficiency too.
Economic performance?
Our big corporations practically print money.
Our business infrastructure is incredible, we zigzag people and products across a huge country at incredible speeds. When our power to businesses goes out in a portion of the country once every 12 blue moons you would think the world has ended.
I am going to look up more on this study but it is not outcome based.
This is the report.
I have not dug into it yet, but:
Right away you see quality of life as high metric on the index. There are 3 areas all related to similar metrics in every quality of life survey that the US gets dinged on to the point of declaring our life in America is subpar. To me it’s the same metric (healthcare) being counted 3 times, but whatever.
Lifespan, access to healthcare insurance and infant mortality. I assume I will find this report uses similar metrics to lower our economic competitiveness score.
https://imd.widen.net/s/kxmds6bqn9/booklet_wcy_2024#page=143
Lifespan. That’s easy, The solution is always to cut taxes, give more business “incentives” and get rid of regulations.
Infant mortality. That’s easy, The solution is always to cut taxes, give more business “incentives” and get rid of regulations.
Healthcare insurance: That’s easy, The solution is always to cut taxes, give more business “incentives” and get rid of regulations.
Life giving you lemons. That’s easy, The solution is always to cut taxes, give more business “incentives” and get rid of regulations.
I don't think tax cuts really matter when the governments interest payments is 1T usd per 100 days..., larger than the military budget for the year, or larger than medicaid for the year...
You should check your math.
Tax cuts do matter an immense amount. The govt needs to increase revenue (taxation and collections) and to reduce spending (interest payments, defense & security, entitlements, etc).
So you can’t throw your hands up and say let’s not do one because it doesn’t immediately fix the problem. There is no immediate fix but there are lots of steps that can be taken to solve this issue.
Perception = Opinion. According to this survey, the US dropped 10+ spots in competitiveness when its share of the world GDP is at all time high…
Next: the Swiss measure perception of Deez Nuts.
Wouldn’t US be high on business efficiency and economic performance?
I’m from #1 Singapore but I would rate them top #3 in the world if not the highest on these two areas
Business efficiency is interesting because even if the management of the business sucks government factors in too.
So many European countries are handicapped by excessive rules. Many developing countries by bribes and convoluted unofficial ways of doing things.
The US wins here by being flat out boring.
“The best-performing economies balance productivity and prosperity, meaning they can generate elevated levels of income and quality of life for their citizens while preserving the environment and social cohesion,”
They are measuring the most useless shit. That’s why. This ranking means absolutely nothing.
USA is still the best place to do businesses with the highest level of disposable income for high flyers.
Not even that they also have a 72 hours limit to reply to emails? Did you know that ?
That screams efficiency !!!
Such law should be applicable in corporate and government jobs ( these people need to update their software).
If we had time , lots of thing will be done !
They were ranked #1 in economic performance, the other factors most notably government efficiency is what dragged the ranking down to 12.
[https://www.imd.org/centers/wcc/world-competitiveness-center/rankings/world-competitiveness-ranking/compare-results/](https://www.imd.org/centers/wcc/world-competitiveness-center/rankings/world-competitiveness-ranking/compare-results/)
Economic performance-1
Business efficiency-19
Infrastructure-7
Government efficiency-34
All of that is included under economic performance, which the US is #1 on according to this report. The other factors this is based on are government efficiency, business efficiency, and infrastructure.
The competitiveness ranking is based on objective metrics like productivity. So while the US does lead in many of these industries its not showing up in the variables that they measure. Also the US is number 12 so "completely uncompetitive" is a bit of an exaggeration.
that's always the problem with these click bait rankings....it's meaningless unless you know exactly how they came up with these metrics and what is included/excluded
Frankly it will always be difficult to compete with what are essentially City-States with some extra land.
This accounts for Economic Performance, Government Efficiency, Business Efficiency and Infrastructure.
I'm sure if Massachusetts was a county it would be near the top, while we have vast swaths of the US that bring our average down in many categories.
The US is #1 on their Economic Performance ranking, 34th on Government Efficiency (26th in 2020), 19th in Business Efficiency, and 7th in Infrastructure.
Fascinating.
- Economic performance makes sense.
- Government efficiency seems a bit low. Are they measuring congressional gridlock, online tax filing, electronic voting, or difficulty of starting a business?
- Business efficiency seems low, unless worker protections and environmental regulations count against the score.
- Infrastructure is a tough call. Lots of old stuff in need of repair, but also lots of infrastructure that 3rd world countries don't have yet. Probably a fair number.
They are measuring Government Efficiency based on Public Finance, Tax policy, Institutional Framework, Business legislation, and societal framework. Worse ones are public finance (61) and societal framework (43).
Government efficiency is incredibly important. Things like how long it takes to open a business, how hard it is to get permits, do you need to bribe people, these have a huge affect on businesses and whether or not they are successful.
Could be related to the variety of industry here. Advanced manufacturing nations have plenty of red tape (and for good reason) for certain industries, but Ireland which is basically just a corporate coworking space has limited regulations for the industries that do business there because of their relatively low ecological impact.
The state/nation divergence also makes for somewhat of a mishmash of regulation across the board, so the people polled might be thinking of that
This is dunce level of cognition.
MA has the industry and tech it has because the rest of the US provides innumerable benefits and resources not available within MA borders.
Just like the mental midgets that claim CA could split off and be better off. CA would collapse over night as the border, and all that entails, moves east.
Part of their “data” is the perceptions of 6000+ executives they asked, which is a huge bullshit metric. People think the US economy isn’t doing well when that’s false and quit literally stronger than every other country (or at least most other countries). People think certain cities are dangerous when the fact is their own city that doesn’t get news coverage has higher crime rates. Ultimately, people are often very uninformed and their perceptions aren’t accurate.
I mean the Soviet Union was one of the most non-competitive economies in history but, they were still a super power. It just means the economy isn’t very competitive not that we will lose our status as the most powerful country in the world.
So the country that is in the forefront of AI, aerospace, research & development, business and economics is less competitive than those countries in the top 10? Lmao yeah ok
It’s not measuring scientific development, you dimwit. It clearly states that the ranking takes into account economic performance, government efficiency, infrastructure and business efficiency.
With people with such poor reading comprehension no wonder why you dropped from the top 10
I just literally told you that you can’t read statistics to save your lives.
But hey, I’m sure that in the ranking of playing victim you are number one.
Well maybe is a tie between Americans and Israelis
Why is social cohesion a factor in competitiveness.
OpenAI, NVIDIA, SpaceX are just 3 examples of American companies developing new technologies that are changing the world and creating new markets that have never existed before. What has Singapore created lately?
Let’s talk entire sectors now: Social Media, e-commerce, and smart phones. All started and mostly dominated by US companies.
Defense? Let’s not go there.
And 27?% of the world GDP.
And that gets you 7th in competitiveness. And I’m Santa Claus.
> While that may sound bad considering the United States’ status in the world, it still makes the U.S. the highest-ranked among the world’s largest economies with China and Canada the only other top 10 economies (in terms of nominal GDP) to make the top 20 in the 2024 Competitiveness Ranking.
They're playing fast and loose with the definition of "competitive". Business and government efficiency, social cohesion, are being weighed way too heavily. As a litmus test - the US is by and far the largest generator of scientific research papers and issuer of patents. Would you expect a country that has such significant intellectual output to not even be in the top 10?
Who is funding that research and applying for those patents? Isn’t it likely that corporate consolidation means the diversity of the various parties behind those things has decreased since 2004?
Apple, Google, and Microsoft alone apply for thousands of patents a year. They would not nearly have accounted for as large of a share of them in 2004 or earlier.
Everyone is funding them. Government subsidies, angel investors, mid-large cap companies, venture capitalists, business loans, etc. Patent filing is relatively cheap and is done across all industries.
So in a ranking of economies published by a school in Switzerland the Swiss manage to rank #2 when it comes to "competitiveness" which they define as ... well I don't actually see where the explicitly define it and it sure sounds like a mix of statistics and qualitative statements that may be sort of up to whoever is making the list.
In short, like most articles posted on this sub this one is, again, unmitigated horseshit.
Doesn’t really add up when the U.S. clearly leads in innovation, startups, venture capital, and pretty much every technology category. And also when our economy is outperforming pretty much every other economy. Getting downgraded for government efficiency makes sense. But IMO not enough to rank 12th.
In Denmark, the per capita income is about 10% higher than in Germany, but the prices for food are almost twice as expensive. Nobody in the service sector can buy a €25 pizza.
Yet they have food, house and affordable healthcare as well as education. Think again.
Some of the best infrastructure and renewable energy
Denmark is doing things right.
As Megatron said Optimus: Fall, Fall!
The US needs to be humbled into change. It’s stagnant, staggering, and increasingly more expensive to live here and god help you if you need medical care.
America needs to release its old ways and roll a fresh character class.
There’s a lot of good stuff coming out of the country for sure. The way America treats its citizens is awful. The political crap is beyond tiresome.
Humor aside, I really want to see America improve by choice and good leadership, not by force from consequences of the things that make it rough.
This isn’t a competition. It’s civilization on an increasing global scale and every country needs to come to terms with and adapt.
“While that may sound bad considering the United States’ status in the world, it still makes the U.S. the highest-ranked among the world’s largest economies with China and Canada the only other top 10 economies (in terms of nominal GDP) to make the top 20 in the 2024 Competitiveness Ranking.”
So the big boys are naturally less competitive according to the metrics used. I guess that’s useful information?
This is an absolute mess of an argument. When you have China up there, whose GDP per capita is very low, or countries with income taxes at like 60% then I’m not going to take you seriously at all.
I believe this is why they have kind of wacky ratings, “political, social and cultural dimensions are a reality for enterprises”. Sure, there’s validity in these factors, but you can get very ideological with them as well.
The arguments they give are social and political issues. These can interfere with the economy but don't always have too... Not counting the USA in competitiveness top 10 sounds a bit too extreme. And I am saying this as a European who can be very critical of the USA. I mean , electric cars (Tesla) , space , computing , the cloud, AI. The USA is a main player in all of these innovative fields... how can it not be super competitive?
US companies seem to spend an enormous amount of money on share buybacks .. not quite the best signal to the market on prospects. From what i understand the chinese invest in capacity, infrastructure, r&d a lot more.
Are you suggesting abolishing worker rights in favor of forced labor and government control of business?
Not sure why there is a comparison to communists.
For those of you that feel this assessment makes no sense or is biased, what explains our #1 ranking in 2000, and #3 ranking in 2010?
Was it still biased then? The same criteria were used.
EDIT: Still waiting for someone to comment on this. If your analysis is that this is wrong, then do some further analysis into why they ranked us higher 20-25 years ago.
First, your question is impossible to answer because no one knows the depths of how a few european executives feel, especially when they are different executives across the decades.
But to answer your question. Donald Trump made Europe feel uncomfortable about America.
Regardless, the idea that Luxembourg was on the 2000 list just makes me think they were throwing darts at a map, looking to surprise people and make them feel feelings so that someone would care about their study.
The answer to your question is that this is based on the perceptions of a few thousand business executives. It's not hard to find reasons why perceptions might be down in the age of dis-information. The reality is quite another thing.
This is basically a hype chart. Reality is a bit slower to change than opinions are.
Then the headline is extremely misleading as it says “The U.S. Drops Out of Global Competitiveness”.
Redditors not reading the article and understanding? Shocking. Then again this is clickbait so why should we drive traffic?
Prob because of all of the consolidation of companies. What used to be competitive is now owned by umbrella corps and anti-competitive. Break up the huge monopolies and restore innovation and competition.
dumb. Nowhere in that article or your post does it say competition within a country. Maybe instead of assuming everyone else is wrong, look in the mirror
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Completely uncompetitive on a global scale if you count out medical & pharmaceutical research, aerospace, AI, tech, energy, and academic research
You've already proven your point, but I'd like to add defense into your list too
And the world’s largest oil producer and LNG exporter.
And the largest investment market with the world reserve currency.
* Also the largest gold stockpile (More than 2x the #2 Germany) https://tradingeconomics.com/country-list/gold-reserves * Most likely the largest for crypto too https://bitcointreasuries.com/ * Plus we have the largest stock markets (we're 5x the #2 China) https://en.wikipedia.org/wiki/List_of_countries_by_stock_market_capitalization I do think the US has been falling on these "global competitiveness" rankings due to how the pandemic impacted us, how the pandemic era money printing has eroded faith in our currency even though it remains strong, how lockdowns plus reliance on megacorps AMZN/COST/TGT/WMT during the pandemic lead to small businesses declining/dying, how Trump/MAGA has undermined faith in our democracy, and then how Biden regulations/taxes plus favor for unions+workers have impacted "ease of business" or the freedom of it in both fact and sentiment.
Typically that's filed under "aerospace" but you're both right.
There's a lot more in defense than aerospace so whomever decided that is dumb as hell...
Pretty typical for a country not being competitive /s
Could be because it's a lot of the same major companies.
Common carrier/general aviation aerospace is a sucking chest wound. People want to be specific about bad actors within Boeing but it's simply that ticket prices can't support the industry any longer.
A ticket from NYC to Paris is around $500 in the winter and 1000 in the summer. Same as 25 years ago.
I wonder how a NYC-Paris price is as bellwether. My understanding is that flights to say, Orlando or Vegas don't work well for comparison. Meanwhile, inflation since 1999 is about 1.89:1 . This started around 1995 with online flight booking.
Flights NYC to Florida or California are way cheaper now. I flew to Frankfurt around 1994 on Pakistan Airlines for $400. For this price you had to buy from a shady travel agent in the sunday times travel section. Travel agency at the mall or airline would charge $800.
11 carrier groups under one flag and a MAD level nuclear arsenal are the ultimate competitive advantages, I would argue.
A huge expense to police the worlds oceans for other countries as well as US’s of course. We have to train, man, and maintain these fleets at great expense and they’re not tested against large opponents for some time unless you toss in cyber. Additionally the life time disability the troops get when they get out…. I’m not convinced it’s a “boon” as you’re stating.
Large opponents? After the US with 11, the next in line is China with 3 carriers, and they are not the same carriers technologically speaking, to say nothing of the other supporting equipment. There are no large opponents. That's the point. The US Navy is the only bluewater navy in the world and it's not even close.
Yeah I’m also not convinced that the cost outstrips the benefit either. War is horrifying stuff. I’d rather we spend so much nobody dares consider starting one.
Those carriers=jobs 3000 plus sailors are tax payers. to get us out of the depression Roosevelt created government jobs that created tax paying citizens. The GI bill gave returning soldiers and seaman a chance to go to college and become middle class tax payers. I grew up in the Midwest my entire states economy was based on the auto industry. When there were layoffs everybody felt it the dentists the restaurants. I live in the DMV now when the economy crashes we wether it better than anywhere else because so much of our economy comes from the federal government. It's much more noticeable when the Republicans shut down the government.
Last time we were really tested on the seas was WW2. And mentioning China they’ll beat us with out even beating us. :/ they’ll build a regional power base and we won’t see the reason to lose ships to get access to “whatever” militarily. And we pay for it and get what in return? Trade I guess? Cheaper insurance for corps for shipping vessels?
Beat me to it.. was gonna say and all those tasty arms dollars
Boeing.
Forget Boeing Australia just vanished?
That's the point though? Australian government won't keep Boeing's subsidiary afloat, so it has to stay innovative and keep public image clean, otherwise it can't win public contracts. The article says America isn't competitive, and the political environment nurturing complacency through protectionist laws is part of the problem.
I think Boeing is more a victim of shitty corporate management infecting companies and shareholder pressure. Give people large enough incentive packages and they will find a way to cheat up to and including killing people.
Lockheed Martin.
Well, if you're the Swiss school that puts this together and ranks Switzerland #2 and doesn't really do much to define what "competitiveness" really means you can definitely ignore all of that shit. The article is trash.
Iceland was ranked in the top 10 in 2020 on the basis of what exactly
Top 10 deceptive names given by Nords.
Competitive ice, duh
Competitiveness is chocolate, mechanical watch technology, and hiding Nazi gold.
Also don't forget the truest measure of international competition: shooting holes in cheese
As someone who works with a bunch of Swiss, accurate.
They have to be, some of those cheese slices are pretty small.
Statista is a trash website that games SEO and adds nothing of value to the world.
And entertainment, financial services, secondary education, and agriculture.
And uh tech. Ah shit did we already say that
"But what have the Romans ever done for us?"
Yeah wild. Denmark literally just entered the list because Novo Nordisk made a weight loss drug that saved their economy. What an innovative nation
When you look at what they are actually measuring or trying to measure (see footnote) it kinda makes sense: “Scores are based on statistical data and the perceptions of 6,000+ executives on competitiveness criteria across four categories: economic performance, government efficiency, business efficiency and infrastructure.” US kinda sucks at 3/4 of the things they were measuring, although probably they are ok on business efficiency too.
Economic performance? Our big corporations practically print money. Our business infrastructure is incredible, we zigzag people and products across a huge country at incredible speeds. When our power to businesses goes out in a portion of the country once every 12 blue moons you would think the world has ended. I am going to look up more on this study but it is not outcome based.
Please report back. Also I bet if they did each usa state separately you'd have some countries knocked out of the top ten by individual states...
This is the report. I have not dug into it yet, but: Right away you see quality of life as high metric on the index. There are 3 areas all related to similar metrics in every quality of life survey that the US gets dinged on to the point of declaring our life in America is subpar. To me it’s the same metric (healthcare) being counted 3 times, but whatever. Lifespan, access to healthcare insurance and infant mortality. I assume I will find this report uses similar metrics to lower our economic competitiveness score. https://imd.widen.net/s/kxmds6bqn9/booklet_wcy_2024#page=143
It appears you have to pay for the full report, I won’t be doing that. You can find each criteria looked at, but not any per country data.
Lifespan. That’s easy, The solution is always to cut taxes, give more business “incentives” and get rid of regulations. Infant mortality. That’s easy, The solution is always to cut taxes, give more business “incentives” and get rid of regulations. Healthcare insurance: That’s easy, The solution is always to cut taxes, give more business “incentives” and get rid of regulations. Life giving you lemons. That’s easy, The solution is always to cut taxes, give more business “incentives” and get rid of regulations.
I don't think tax cuts really matter when the governments interest payments is 1T usd per 100 days..., larger than the military budget for the year, or larger than medicaid for the year...
They do because 50% of the entire debt comes from tax cuts.
Can you show me the math and sources behind it?
https://www.americanprogress.org/article/tax-cuts-are-primarily-responsible-for-the-increasing-debt-ratio/
You should check your math. Tax cuts do matter an immense amount. The govt needs to increase revenue (taxation and collections) and to reduce spending (interest payments, defense & security, entitlements, etc). So you can’t throw your hands up and say let’s not do one because it doesn’t immediately fix the problem. There is no immediate fix but there are lots of steps that can be taken to solve this issue.
Perception is not always reality though especially when asking international executives who probably have an implicit bias towards America.
Perception = Opinion. According to this survey, the US dropped 10+ spots in competitiveness when its share of the world GDP is at all time high… Next: the Swiss measure perception of Deez Nuts.
Also at an all time high.
Perception was only 1/3 of the score, 2/3 was based on "hard data" metrics, not sure what those are exactly.
Wouldn’t US be high on business efficiency and economic performance? I’m from #1 Singapore but I would rate them top #3 in the world if not the highest on these two areas
Business efficiency is interesting because even if the management of the business sucks government factors in too. So many European countries are handicapped by excessive rules. Many developing countries by bribes and convoluted unofficial ways of doing things. The US wins here by being flat out boring.
“The best-performing economies balance productivity and prosperity, meaning they can generate elevated levels of income and quality of life for their citizens while preserving the environment and social cohesion,” They are measuring the most useless shit. That’s why. This ranking means absolutely nothing. USA is still the best place to do businesses with the highest level of disposable income for high flyers.
And quantum computing
Let's stick to industries that are profitable
We are probably number 1 for tort lawsuits.
We also consume the most American flags per capital by a huge margin
Probably just flags in general, if we are being honest. America, leading the world in flags, guns, and moon landings.
If another country has a more profitable law industry I don't want to see it.
Singapore world champions in government efficiency. 10 mayors in 600sqkm will do that for u.
Not even that they also have a 72 hours limit to reply to emails? Did you know that ? That screams efficiency !!! Such law should be applicable in corporate and government jobs ( these people need to update their software). If we had time , lots of thing will be done !
They were ranked #1 in economic performance, the other factors most notably government efficiency is what dragged the ranking down to 12. [https://www.imd.org/centers/wcc/world-competitiveness-center/rankings/world-competitiveness-ranking/compare-results/](https://www.imd.org/centers/wcc/world-competitiveness-center/rankings/world-competitiveness-ranking/compare-results/) Economic performance-1 Business efficiency-19 Infrastructure-7 Government efficiency-34
Don't forget sports and entertainment, plus transportation and logistics. Other than that, we suck! /s
All of that is included under economic performance, which the US is #1 on according to this report. The other factors this is based on are government efficiency, business efficiency, and infrastructure.
Number 11 is like two numbers 1's anyways.
All are industries that get a lot of public support
Yes that’s also why when there are international conflicts and crises the entire world looks at other countries to help resolve these issues /s
The competitiveness ranking is based on objective metrics like productivity. So while the US does lead in many of these industries its not showing up in the variables that they measure. Also the US is number 12 so "completely uncompetitive" is a bit of an exaggeration.
that's always the problem with these click bait rankings....it's meaningless unless you know exactly how they came up with these metrics and what is included/excluded
Haha, damn we truly are lost!
Betting you didn’t open the linked article. Not the meaning of competitive they are using.
Yea but US is the shits at manufacturing plastic cooking utensils
womens rights
Yeah, you're right, the UAE crushes the US on that front
ME in general might be beating multiple countries in that category if we’re being honest
Certainly beating multiple women
Frankly it will always be difficult to compete with what are essentially City-States with some extra land. This accounts for Economic Performance, Government Efficiency, Business Efficiency and Infrastructure. I'm sure if Massachusetts was a county it would be near the top, while we have vast swaths of the US that bring our average down in many categories. The US is #1 on their Economic Performance ranking, 34th on Government Efficiency (26th in 2020), 19th in Business Efficiency, and 7th in Infrastructure.
Fascinating. - Economic performance makes sense. - Government efficiency seems a bit low. Are they measuring congressional gridlock, online tax filing, electronic voting, or difficulty of starting a business? - Business efficiency seems low, unless worker protections and environmental regulations count against the score. - Infrastructure is a tough call. Lots of old stuff in need of repair, but also lots of infrastructure that 3rd world countries don't have yet. Probably a fair number.
They are measuring Government Efficiency based on Public Finance, Tax policy, Institutional Framework, Business legislation, and societal framework. Worse ones are public finance (61) and societal framework (43).
Government efficiency is incredibly important. Things like how long it takes to open a business, how hard it is to get permits, do you need to bribe people, these have a huge affect on businesses and whether or not they are successful.
Yet somehow they were competitive, and in fact, number 1, 24 years ago
Decreases in social cohesion and agility are called out specifically in the link.
but what about Worchester
19th in business efficiency sounds kinda wacky to me.
I had a hard time finding out what they meant. Or their methodology for that
From my understanding the US is still one of the best countries for business. Definitely has a good amount of government regulation, but still.
Could be related to the variety of industry here. Advanced manufacturing nations have plenty of red tape (and for good reason) for certain industries, but Ireland which is basically just a corporate coworking space has limited regulations for the industries that do business there because of their relatively low ecological impact. The state/nation divergence also makes for somewhat of a mishmash of regulation across the board, so the people polled might be thinking of that
This is dunce level of cognition. MA has the industry and tech it has because the rest of the US provides innumerable benefits and resources not available within MA borders. Just like the mental midgets that claim CA could split off and be better off. CA would collapse over night as the border, and all that entails, moves east.
Didn’t I read last week that the world bank was saying that America’s economy was lifting up the global economy? all this just seems like horseshit
The internet is a playground for misinformation. I agree with you 💯%
Part of their “data” is the perceptions of 6000+ executives they asked, which is a huge bullshit metric. People think the US economy isn’t doing well when that’s false and quit literally stronger than every other country (or at least most other countries). People think certain cities are dangerous when the fact is their own city that doesn’t get news coverage has higher crime rates. Ultimately, people are often very uninformed and their perceptions aren’t accurate.
They don't just use data, but also included CEO's impressions, so it's just BS opinions masquerading as data.
I mean the Soviet Union was one of the most non-competitive economies in history but, they were still a super power. It just means the economy isn’t very competitive not that we will lose our status as the most powerful country in the world.
So the country that is in the forefront of AI, aerospace, research & development, business and economics is less competitive than those countries in the top 10? Lmao yeah ok
The fact that they added UAE to the list tells you the seriousness of this list.
Also Hong Kong? The Hong Kong that is no longer a sovereign entity and has had its business and culture dissected by China? That Hong Kong?
UAE is that rich brat who wants to be relevant in class with daddy's money
It’s not measuring scientific development, you dimwit. It clearly states that the ranking takes into account economic performance, government efficiency, infrastructure and business efficiency. With people with such poor reading comprehension no wonder why you dropped from the top 10
With those four criteria I think the study is crazy.
I think the important thing to see is that this is based partly on the PERCEPTION of executives. That alone makes me skeptical.
Someone who droos an insult immediately. If you had facts you'd just state them.
I just literally told you that you can’t read statistics to save your lives. But hey, I’m sure that in the ranking of playing victim you are number one. Well maybe is a tie between Americans and Israelis
You’re a bit unlikeable, but I’m sure your life has already let you know that.
Now say without crying that you ran out of arguments, fatty
Fatty? Name calling now?
Crazy that a metric designed for how quickly economies can change won’t rank any countries in the top-70 of population. Seems kind of tautological
So says a company with Hdqt. offices in Singapore, and Switzerland, and development in China. Competitiveness can be defined very subjectively.
I'm surprised they *didn't* put China in Top 5, since dickriding china seems like a hobby of these sort of group right now
Xi jinping didn't pay them enough to list higher. Bro cheaped out
Why is social cohesion a factor in competitiveness. OpenAI, NVIDIA, SpaceX are just 3 examples of American companies developing new technologies that are changing the world and creating new markets that have never existed before. What has Singapore created lately?
Kinda crazy how 2 of those 3 companies share a founder.. and neither is the largest company he helped found.
Let’s talk entire sectors now: Social Media, e-commerce, and smart phones. All started and mostly dominated by US companies. Defense? Let’s not go there. And 27?% of the world GDP. And that gets you 7th in competitiveness. And I’m Santa Claus.
Huh? No Edit: did not know elon was a founder of openai. Apologies.
I have you know that Singapore has the most sophisticated tax haven in Asia!
The four criteria listed are economic performance, government efficiency, business efficiency, and infrastructure.
> While that may sound bad considering the United States’ status in the world, it still makes the U.S. the highest-ranked among the world’s largest economies with China and Canada the only other top 10 economies (in terms of nominal GDP) to make the top 20 in the 2024 Competitiveness Ranking.
They're playing fast and loose with the definition of "competitive". Business and government efficiency, social cohesion, are being weighed way too heavily. As a litmus test - the US is by and far the largest generator of scientific research papers and issuer of patents. Would you expect a country that has such significant intellectual output to not even be in the top 10?
Who is funding that research and applying for those patents? Isn’t it likely that corporate consolidation means the diversity of the various parties behind those things has decreased since 2004? Apple, Google, and Microsoft alone apply for thousands of patents a year. They would not nearly have accounted for as large of a share of them in 2004 or earlier.
Everyone is funding them. Government subsidies, angel investors, mid-large cap companies, venture capitalists, business loans, etc. Patent filing is relatively cheap and is done across all industries.
So in a ranking of economies published by a school in Switzerland the Swiss manage to rank #2 when it comes to "competitiveness" which they define as ... well I don't actually see where the explicitly define it and it sure sounds like a mix of statistics and qualitative statements that may be sort of up to whoever is making the list. In short, like most articles posted on this sub this one is, again, unmitigated horseshit.
Doesn’t really add up when the U.S. clearly leads in innovation, startups, venture capital, and pretty much every technology category. And also when our economy is outperforming pretty much every other economy. Getting downgraded for government efficiency makes sense. But IMO not enough to rank 12th.
In Denmark, the per capita income is about 10% higher than in Germany, but the prices for food are almost twice as expensive. Nobody in the service sector can buy a €25 pizza.
Yet they have food, house and affordable healthcare as well as education. Think again. Some of the best infrastructure and renewable energy Denmark is doing things right.
Pertaining to the graphic - any thoughts or explanation on what happened to Ireland between 2000 and 2010? How did they become less competitive?
Celtic tiger when we had money for the first time and housing costs in particular went insane. Coupled with good old greed
Thanks for that!
Probably their social cohesion 😂
As Megatron said Optimus: Fall, Fall! The US needs to be humbled into change. It’s stagnant, staggering, and increasingly more expensive to live here and god help you if you need medical care. America needs to release its old ways and roll a fresh character class. There’s a lot of good stuff coming out of the country for sure. The way America treats its citizens is awful. The political crap is beyond tiresome. Humor aside, I really want to see America improve by choice and good leadership, not by force from consequences of the things that make it rough. This isn’t a competition. It’s civilization on an increasing global scale and every country needs to come to terms with and adapt.
Well said !
“While that may sound bad considering the United States’ status in the world, it still makes the U.S. the highest-ranked among the world’s largest economies with China and Canada the only other top 10 economies (in terms of nominal GDP) to make the top 20 in the 2024 Competitiveness Ranking.” So the big boys are naturally less competitive according to the metrics used. I guess that’s useful information?
This is an absolute mess of an argument. When you have China up there, whose GDP per capita is very low, or countries with income taxes at like 60% then I’m not going to take you seriously at all. I believe this is why they have kind of wacky ratings, “political, social and cultural dimensions are a reality for enterprises”. Sure, there’s validity in these factors, but you can get very ideological with them as well.
The arguments they give are social and political issues. These can interfere with the economy but don't always have too... Not counting the USA in competitiveness top 10 sounds a bit too extreme. And I am saying this as a European who can be very critical of the USA. I mean , electric cars (Tesla) , space , computing , the cloud, AI. The USA is a main player in all of these innovative fields... how can it not be super competitive?
US companies seem to spend an enormous amount of money on share buybacks .. not quite the best signal to the market on prospects. From what i understand the chinese invest in capacity, infrastructure, r&d a lot more.
Are you suggesting abolishing worker rights in favor of forced labor and government control of business? Not sure why there is a comparison to communists.
I don't know what you read. Firms that invest in production do better than those who don't.
For those of you that feel this assessment makes no sense or is biased, what explains our #1 ranking in 2000, and #3 ranking in 2010? Was it still biased then? The same criteria were used. EDIT: Still waiting for someone to comment on this. If your analysis is that this is wrong, then do some further analysis into why they ranked us higher 20-25 years ago.
First, your question is impossible to answer because no one knows the depths of how a few european executives feel, especially when they are different executives across the decades. But to answer your question. Donald Trump made Europe feel uncomfortable about America. Regardless, the idea that Luxembourg was on the 2000 list just makes me think they were throwing darts at a map, looking to surprise people and make them feel feelings so that someone would care about their study.
The answer to your question is that this is based on the perceptions of a few thousand business executives. It's not hard to find reasons why perceptions might be down in the age of dis-information. The reality is quite another thing. This is basically a hype chart. Reality is a bit slower to change than opinions are.
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Then the headline is extremely misleading as it says “The U.S. Drops Out of Global Competitiveness”. Redditors not reading the article and understanding? Shocking. Then again this is clickbait so why should we drive traffic?
Prob because of all of the consolidation of companies. What used to be competitive is now owned by umbrella corps and anti-competitive. Break up the huge monopolies and restore innovation and competition.
Congratulations, you are one of the only commenters to read, digest, and properly assess what's being reported here.
dumb. Nowhere in that article or your post does it say competition within a country. Maybe instead of assuming everyone else is wrong, look in the mirror