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The US Economy Wins the Title of the Most Competitive and Innovative in the World

© SAUL LOEB Source: AFP
US President Donald Trump speaks at a meeting in the White House Oval Office in Washington on October 17, 2018 (image for illustration).

The US economy is the most competitive and innovative in the world: this is the conclusion of the latest annual report published October 17 by the World Economic Forum . The country has thus sidelined Switzerland, which has been at the top of the podium for nine years and is now in fourth place. 

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“All these factors combined, the United States achieved the best overall performance with a score of 85.6 [out of 100], ahead of Singapore and Germany,” the WEF said in a statement. “They [the United States] are doing well in their job market, they’re doing well in terms of their market size and pretty well in their institutions,” said WEF Executive Committee member Saadia Zahidi. also considered that the world’s largest economy was a “locomotive of innovation”.

A news that should comfort Donald Trump in his economic policy. On several occasions, the US head of state praised the merits of his protectionist-oriented economic policy. The latest autocongratulation is his speech to the UN General Assembly on 25 September .

“In less than two years, my administration has done more than any other government in our country’s history,” he told the hilarious audience. “The United States is safer, stronger, richer than when I took office,” he added.

The unemployment rate in the United States fell to 3.7% in September, an unprecedented level since December 1969 despite a marked slowdown in job creation, which notably suffered from the passage of Hurricane Florence on the east side.

A giant with clay feet 

The only shadow, not least of all, is the social situation of the country. The report deplores a “weakening of the social fabric and a deterioration of the security context”.

In this area, the United States is in 56th place with a homicide rate five times higher than the average rate of so-called advanced economies. In addition, the country records an average score in the health sector: with an average life expectancy estimated at 67 years, the United States is satisfied with the very modest 46th place.

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Written by MT

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