U.S. Slumps to 10th Spot in World Competitiveness Rankings

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Doesn’t seem like an entirely relevant metric – especially given that all the countries ahead of the US are smaller than California

Zzz90

Of course tariffs hurt the US economy. Despite what Trump says, that’s not the point of tariffs – to kneecap China, even at an expense to our own economy.

CMOAN_MAYNE

I dunno man. I look at these rankings and I see little relationship to what actually matters in international economics. In particular, Hong Kong in the top 5 is just insane. Hong Kong is in hyooj trouble, and they were in hyooj trouble this time last year also. I think their approach is somehow missing the forest for the trees. Also, they added some new tracking item that doesn’t sound so much about competitiveness: >This year, new criteria were added to reflect the importance of achieving the UN Sustainable Development Goals. The criteria provide a perception of where the economy stands with respect to different sustainable goals that need to be satisfied in 10 years, such as education and the environment, inclusion and empowerment, ageing and health. Both the USA and China don’t care much about these goals, and so both countries saw significant declines in their rankings after they were added to the rankings. It also looks like the rankings favor quite small countries. That doesn’t really sound like a fair reading of “competitiveness”, though. Sure, America and China have highly unequal societies, and they aren’t doing enough to combat climate change. Don’t these sound like criteria for some other study, perhaps one on social well being? Having a lot of low wage workers can be a powerful advantage in economic competitiveness.

SmokingPuffin

PSA – No one should pay attention to these sort of “rankings”. It’s just some group choosing a more or less random group of statistics, adding arbitrary weights to different ones, adding them together in some manner determined by themselves…all to produce a number that they then represents “competitiveness”. It’s a ridiculous process, but it’s even more ridiculous to give any credence to it. And it’s even worse when they adjust it from year to year to meet their p-hacking needs.

thewimsey

US cities are no longer competitive given the lack of new housing supply. But I bet smaller cities with fast and reliable internet in the middle of the country in states with pro-business tax codes will start to be regarded as very competitive.

4BigData