For the 15th straight year, the United States was ranked the most competitive country in the world. Singapore and Hong Kong ranked right behind the U.S. Switzerland improved its ranking to 4th position and Luxembourg took 5th. This ranking is done by the IMD business school, which publishes the World Competitiveness Yearbook.
It seems that we are well able to compete in the global economy and that free trade clearly works to our advantage. Actually, by putting pressure on the governments of countries which are less competitive to be become more competitive by allowing more individual initiative and freedom, it is playing a very useful role in improving life in many countries. It is also helping more people to understand what they are missing in their own economies and from their own governments. As they learn this, they are demanding better treatment and more freedoms.
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