World Economic Forum names world's most competitive nations

The World Economic Forum named Switzerland the most competitive nation for an eighth straight year as it warned less open trade was threatening economic growth globally.

Switzerland was ahead of Singapore and the U.S. in the annual rankings of 138 countries, with Netherlands overtaking Germany to take the fourth spot.

The Geneva-based organization used the report to highlight its concern about a gradual decline in openness. It blamed this on rising non-tariff barriers and more burdensome rules governing foreign investment and customs, and said it’s threatening to hurt the world economy.

“Declining openness in the global economy is harming competitiveness and making it harder for leaders to drive sustainable, inclusive growth,” said Klaus Schwab, founder of the forum.

Read more at Bloomberg.

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