| Home
US could be going down Japanese path
Tajikistan News.Net
Thursday 15th May, 2008
While the United States remains the world's most competitive economy, it risks falling into economic recession like Japan in the 1990s.
The Swiss-based Institute for Management Development has said the US is still number one in its competitiveness survey but risks falling behind Singapore and Hong Kong.
IMD economists say 2008 could be the time when the US falls from its leadership of top competitors.
They have cited the example of Japan's position twenty years ago, when its economy seemed unassailable, just before it slid into a decade of recession.
The IMD says while the US still dominates in economic dynamism, industrial efficiency and innovation, significant challenges are coming up with the structural deficits in the US balance of trade, budget and national debt.
Ten European countries featured among the 55 surveyed, including Switzerland in 4th place, Luxembourg 5th, Sweden 9th, the Netherlands 10th, Norway 11th and Ireland 12th.
 Email this story to a friend
Have your say on this story
|
 |
 |
- 26 killed in Thai bus, car pile-up
Bangkok, July 4 (Xinhua) Twenty-six people were killed Saturday in a pile-up involving a passenger bus and six cars on a highway in southern Thailand, the police said. [read story]
- 150,000 evacuated as storms batter southern China
Beijing, July 4 (DPA) Torrential rains and flooding forced more than 150,000 people from their homes, cut power and destroyed crops across southern China, state media reported Saturday. [read story]
- North Korea tests seventh missile, says South Korea
Seoul, July 4 (DPA) North Korea fired its seventh missile from its eastern coast Saturday, the South Korean defence ministry said, as Pyongyang raised tension in the Korean peninsula. [read story]
- 32 militants killed in Afghanistan
Kabul, July 4 (Xinhua) Thirty-two militants and a foreign soldier were killed in fighting in Afghanistan's eastern Paktika province Saturday, officials said. [read story]
- North Korea Independence Day missile launches described as provocative
Japan defense officials last month said Pyongyang was preparing to launch a long-range missile capable of reaching the U.S. state of Hawaii around the U.S. Independence Day holiday. [read story]
|
|
 |
 |
|
|
