First US in World's most competitive eco

The United States economy has ranked first in the World Economic Forum's global competitiveness report for the first time since the 2008 financial crisis, after benefiting from a new ranking methodology this year.

According to the index listing competitive productivity using a scale of 0 to 100, the United States has placed first place with the highest scores.

The United States defeated Singapore, Germany, Switzerland and Japan, which were the other four key economies, with an estimated 85.6 out of 100, due to the culture of entrepreneurship and strengthening of the labour market and the financial system.

The World Economic Forum, which also holds an annual meeting in Davos with world superpowers, estimates 140 countries based on many competitiveness promoters, including policies and institutions of a country that aid productivity.

This year, the forum changed methodology to include future readiness for competition, such as generating ideas from one country, entrepreneurial culture and the number of businesses that divide existing markets.

The last time America took first place on the list was 2008.

The World Economic Forum said it is too early to assess how the trade policies of Trump administration will affect the ranking.

The future US competitiveness will have a negative impact on the trade initiatives with China and other partner countries. Open economies are more competitive”, the report stresses.