On the 8th of September, the World Economic Forum, a Switzerland-based organization that convenes and gathers data on world matters,  published its global competitiveness report  -- a ranking of the world's top economies.  Having led the world's economy into crisis just last year, the US lost its usual 1st place ranking and and fell to 2nd place with Switzerland overtaking it for the first place.

Photo: finfacts.ie

According to Japan Kyodo News, the US sustained a huge deduction in points for its weakening financial markets and inefficienct corporate finance managements. Switzerland, on the other hand, received rave ratings for its continued pioneering efforts in science and technology.

Singapore, Sweden, Denmark, Finland, and Germany placed 3rd to 7th places consecutively.  Also, according to the new report, Japan's economy has risen from 9th place to 8th in this year's ranking.

In the emerging economies, China and India each climbed one place higher, placing 29th and 49th consecutively.  Brazil leaped up to 56th place.  On the other hand, Russia slipped 12 places because of the continuing slump in its crude oil prices, placing 63rd.

The World Economy Forum had based their rankings on several statistics and factors: business and environment, government efficiency at financing market recoveries, educational systems in place, and surveys of business leaders on pressing global issues.

Read the original in Chinese at gcpnews.com

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