Swiss topple U.S. as most competitive economy: WEF
Tuesday, September 8, 2009 : PermalinkReuters – Switzerland knocked the United States off the position as the world’s most competitive economy as the crash of the U.S. banking system left it more exposed to some long-standing weaknesses, a report said on Tuesday.
The World Economic Forum’s global competitiveness report 2009/2010 showed economies with a large focus on financial services such as the U.S., Britain or Iceland were the losers of the crisis.
The U.S. as the world’s largest economy lost last year’s strong lead, slipping to number two for the first time since the introduction of the index in its current form in 2004.
September 8th, 2009
10:40 am
The Global economy will most likely start its recovery in 2010 when real estate and banking start to pick up again. FHA lending will be the main reason for recovery as the US government will look to help the banking industry through these types of loan programs. A very big help will also come from firms that specialize in debt elimination, consulting, and law firms that specialize in bankruptcy law. The firms will help to re-organize unsecured debt, past due mortgages, & back taxes which has hurt the American Economy.
Tags:
economy, financial-services, world economic forum