The bad news is the U.S. lost it’s number one spot on the annual competitiveness survey bySwiss based IMD Business School for the first time since 1993 to Singapore and Hong Kong, ranked 1 and 2 respectively. The good news is the U.S. has survived the risk of financial and economic crises, in part, thanks to the sheer size of its economy, leadership in business, and unrivaled supremacy in technology, reports Manufacturing.net.
That’s no surprise to me. The U.S. is an amazing melting pot of resourcefulness and determination. True grit!
The study lists 58 economies according to 328 criteria that measure how the nations create and maintain favorable business conditions. Singapore, Hong Kong and the U.S. are followed by Switzerland and Australia as the top five. Sweden, Canada, Taiwan, Norway, and Malaysia round out the top 10.
China rose to 18th showing that it is no longer dependent on foreign markets buying its inexpensive exports. Other emerging economies were India, 31st; Brazil, 38th; and Russia, 51st. The surprise is Greece. Despite being in economic agony, they actually improved in the 2010 ranking from 56th to 46th. Who was at the bottom you ask? Venezuela was last, preceded by Ukraine, Romania, Argentina, and Croatia.
Let’s go back to that part about resourcefulness and true grit. You rely heavily on your industrial electronic equipment. If it’s not working, your workload and output are impacted. We can help you get your industrial electronics repaired and back online fast. Remember – repair if you can, replace if you must. Now that’s being resourceful!