GLOBAL COMPETITIVENESS RANKS

The US topped the World Competitiveness Yearbook 2007.

From the Philippine Star:

"The US economy maintained its position atop world competitiveness rankings, despite a record trade deficit, its high corporate tax rate on profits and low confidence in the government’s handling of public finances, according to an annual survey released Thursday."

Just wondering, were the huge US farm subsidies ever considered in this ranking?

In the same report, the Philippines slipped from 42nd (2006) ~45th (2007), despite its current Balance of Payments (BOP) surplus, record strong currency and gains in the BPO sector.

This is in contrast to the Global Competitiveness Report 2006-2007 published by the World Economic Forum (WEF) on September 2006 where the US slipped from 1st to 6th and the US is supposed to have gained a bit from its previous year's ranking.

RELATED POST: Global Competitiveness Rank 2006

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