The United States returned to the top spot as the most competitive country in the world for the first time since 2008 after it made the second highest overall gain from the previous year’s ranking from the World Economic Forum.
The top five countries were the U.S., Singapore, Germany, Switzerland, and Japan — all of which saw their scores increase in 2017, The Wall Street Journal reported.
“Economic recovery is well underway, with the global economy projected to grow almost 4% in 2018 and 2019,” the report stated, adding that “recovery remains vulnerable to a range of risks and potential shocks.”
The Journal noted that the warning cited “a brewing trade war between the U.S. and China as a possible hindrance to growth that could potentially derail the recovery and deter investment.”
“The report scores countries on how closely they match up to the competitive ideal,” The Journal added. “The U.S. scored 85.6 out of a possible 100. America’s vibrant entrepreneurial culture and its dominance in producing a competitive labor market and nimble financial system ‘are among the several factors that contribute to making the U.S.’ innovation ecosystem one of the best in the world.'”
President Donald Trump highlighted some of his economic achievements on Twitter earlier in the day, noting the surge in new manufacturing jobs as well as the number of job openings that are available and the strength of the stock market.