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article imageUS slips to fifth place in Global Competitiveness Report

By Katerina Nikolas     Sep 9, 2011 in World
The World Economic Forum has released the Global Competitivenes Report 2011 -2012. Switzerland retains the number one spot whilst the U.S. slips to fifth place.
The land of fine chocolate and secret bank accounts leads the 142 nations in the latest Global Competitiveness Report 2011 -2012, published by the World Economic Forum. Switzerland tops the polls and is one of seven European nations to feature in the top ten. The U.S. has slipped down the scale taking fifth place, whilst the U.K. only barely makes it onto the list of leaders in spot 10.
Germany, which tends to dominate the European Economic Community, takes sixth place, below Sweden and Finland. Singapore comes in at second place and despite the horrendous set backs Japan has endured it ranks as number nine. Due to its current economic woes Greece has slipped into near oblivion, ranking at 90. Qatar leads the Middle Eastern countries, whilst Chile takes the lead in Latin America. China rises to position 26. Libya is not listed in this year’s report.
The World Economic Forum Chairman, Klaus Schwab, provides his interpretation of the data, stating: “Much of the developing world is still seeking relatively strong growth, despite some risk of overheating, while most advance economies continue to experience sluggish recovery, persistent unemployment and financial vulnerability, with no clear horizon for improvement.”
Iranian News Agency FARS takes great delight in some of the data the report reveals. It revels in its schools outranking those in the U.K. which only gain position 43. Singapore, which takes second place in the Global Competitiveness Report also ranks as first in education.
China Daily reports that the WEF Annual Meeting of the New Champions is to be held next week in the Chinese city of Dalian.
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