The United States no longer champions competitiveness

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The United States no longer champions competitiveness

Source: Lefigaro.fr

09/10/2019 06:00

The trade wars delivered by Donald Trump explain this particular underperformance.

The United States moved to second place, behind Singapore, in the World Economic Forum's latest Competitiveness Report, not least because of the trade wars fought by President Donald Trump.

The Forum (WEF), which brings together every winter in the ski resort of Davos the gratin of the political and economic world, publishes since 1979 a ranking of the best-placed economies in terms of productivity and long-term growth.

Although the United States "Remain an innovative power" and the second most competitive economy in the world, some troubling signs have emerged, the report said. "It is important to ensure that countries are open to trade"said Saadia Zahidi, one of the WEF directors, in response to a question about the impact of customs sanctions imposed by the Trump administration.

While noting the absence of "Precise data" on this impact, she felt that "the feeling" that accompanied the willingness to invest in the United States was "Shrunk". "This will ultimately impact long-term investment, impact decision-makers' thinking, and influence the US vision of non-US businessmen." So yes, it's important for the long term ", she added during a meeting in Geneva with journalists …

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