losing competitiveness

IMD, a business school in Switzerland, recently issued its 2020 global competitiveness list, the 32nd in its annual series. Two years ago, the US was the #1 economy in the world . We fell to #3 in 2019 and dropped a further seven places to #10 this year. IMD’s reasoning? …the Trump administration’s anti-growth policies. IMD prizes economic openness, a strong education system. support for scientific research and a good health care system, all areas Trump has sought to undermine.

Hong Kong dropped from #2 last year to #5 and China to #20 from #14 in 2019.

Although the ranking includes some data from early 2020, as far as I can tell it does not factor in either Trump’s disastrous coronavirus response or his attempts to foment race violence. Nor does it consider China’s breach of the Hong Kong handover agreement with the UK. All of these factors would presumably have dropped rankings.

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