Switzerland is the ‘Most Competitive Economy’ in World

On Wednesday, the World Economic Forum announced that Switzerland hailed the most competitive economy in the world for nine consecutive years. In 2008, the country suffered from a minor shock which enabled the United States to push the Swiss economy in the second spot, nevertheless, the Swiss Confederation was able to maintain the first place due to its adeptness as shown in the annual ranking of WEF.

Switzerland is on top for nearly a decade but the country is currently at risk due to populism and complacency.

Aside from Switzerland, the list kept unchanged since last year, except a little bit of shuffling. The United States was able to outpace Singapore for the second place, while Hong Kong is in the sixth rank as it successfully passed three places, going beyond Japan in the ninth place.

Moreover, the Great Britain lowered down to eighth and the WEF said, this fall has nothing to do with the Brexit process and the slide is already expected. The Chinese economy ranked 27th which is ahead of Russia on 38th and India on the 40th. In addition to it, Yemen is in the 37th position and the poor country got the wooden spoon amid their devastated status due to civil war, economic downturn, and widespread scarcity.