The decline of the American Empire was set out for readers over the years.
A new report shows that the United States is facing a new decade, losing a competitive economic advantage that it firmly maintained during the period of economic growth after World War II.
For the second year in a row, the US has been ousted as the most competitive economy in the world, thanks in part to President Trump’s Trade War, The USA is now ranked 10th (3rd place in 2019), according to Institute for Management Development (IMD) a new report on the ranking of the most competitive economies in the world.
“Trade wars have damaged the economies of China and the United States, reversing their positive growth paths. This year, China fell to 20th place from 14th last year, “ IMD said.
The 32-year-old annual ranking shows that Singapore, Denmark, Switzerland, the Netherlands and Hong Kong are among the five most competitive economies.
Watching data on the competitiveness of economies, IMD noticed the strength of smaller countries.
“The advantage of small economies in the current crisis is due to their ability to deal with the pandemic and their economic competitiveness. In part, this may be due to the fact that it is easy to achieve social consensus, ”said Arturo Bris, director of the IMD International Competitiveness Center.
Singapore holds first place for the second year in a row, mainly due to strong trade and investment, as well as a strong emphasis on expanding education infrastructure and technology.
The report notes that Denmark, ranked 2nd, was recognized for its sustainable economy, labor market, and healthcare and education systems. It was said that the Scandinavian country led Europe in business performance.
Video: breakdown of IMD results
Switzerland ranks third in its strong international trade, which provides strong economic performance. The country of Central Europe has increased investment in scientific infrastructure and health and education systems.
Great Britain took the 19th place in the list, which, according to IMD, is mainly due to Brexit clutter, Canada ranked higher than the United States, ranking 8th in terms of economic competitiveness.
The Asia-Pacific region, Latin America and the Middle East ranked mostly lower in the list.
As for the United States – what made them so competitive over the years is the boom in trade with China – now the gross Sino-US trade flows have declined since the start of the trade war – America’s competitive economic advantage is in collapse, coinciding with the IMD conclusions.
Reducing gross Sino-US trade flows and weakening competitive economic advantage – this is a recipe for lower US inventories.
America’s competitive economic advantage will continue to fall, as trade wars, a pandemic, and social unrest paralyzed the empire.