Asia Gains, U.S. Drops in Competitiveness

A lot can change in 12 months. At this time last year, Western nations dominated the annual ranking of the world's most competitive countries prepared by the IMD business school in Lausanne, Switzerland. Now, in the most recent ranking released May 19, five of the top 10 are from the Asia-Pacific region. Emerging-power China, ranked No. 18, has gained ground, even as No. 3-ranked U.S. and No. 22-ranked Britain slipped in the global pecking order.

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