The United States is no longer the most competitive nation in the world, a title it once shared with this year's champion, Hong Kong. The U.S. slipped to second in this year's World Competitiveness rankings, compiled by the IMD World Competitiveness Center, giving sole bragging rights to Hong Kong.
1. Hong Kong has been ranked the world's most competitive economy for the second consecutive year according to the International Institute for Management Development (IMD) World Competitiveness Yearbook 2012.
"Hong Kong is highly competitive vis-Ã -vis most other economies in the world, especially in terms of government efficiency, business efficiency and macroeconomic performance.
"Hong Kong is highly competitive vis-Ã -vis most other economies in the world, especially in terms of government efficiency, business efficiency and macroeconomic performance.
2. United States of America
Despite losing ground in this year's rankings, the United States remains at the center of world competitiveness "because of its unique economic power, the dynamism of its enterprises, and its capacity for innovation," the report from the Lausanne, Switzerland-based IMD School of Business said.
The United States also has economic ties with virtually every economy in the world, which makes the direction of its economy crucial to others.
Click next to find out the countries that made it to the top ten
Despite losing ground in this year's rankings, the United States remains at the center of world competitiveness "because of its unique economic power, the dynamism of its enterprises, and its capacity for innovation," the report from the Lausanne, Switzerland-based IMD School of Business said.
The United States also has economic ties with virtually every economy in the world, which makes the direction of its economy crucial to others.
Click next to find out the countries that made it to the top ten
10. Qatar
9. Germany
8. Norway
7. Taiwan
6. Canada
5. Sweden
4. Singapore
3. Switserland
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