Swiss Topple U.S. as Most Competitive Economy: WEF

VIA REUTERS

By Sven Egenter

GENEVA (Reuters) - 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.

"We have been expecting for some time that it may lose its top-position. There are a number of imbalances that have been building up," said Jennifer Blanke, Head of the WEF's Global Competitiveness Network.

"There are problems on the financial market that we were not aware of before. These countries (like the U.S. and Britain) are getting penalized now," she said.

Trust in Swiss banks also declined. But in the assessment of banks' soundness, the Alpine country still ranked 44th. U.S. banks fell to 108 -- right behind Tanzania -- and British banks to 126 in the ranking, now topped by Canada's banks.

The WEF bases its assessment on a range of factors, key for any country to prosper. The index includes economic data such as growth but also health data or the number of internet users.

The study also factors in a survey among business leaders, assessing for example the government's efficiency or the flexibility of the labor market.

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The Un-Comfort Zone - Leadership vs. Power

THE UN-COMFORT ZONE with Robert Wilson

King George III asked Benjamin West, his American painter, what George Washington would do if he prevailed in the Revolutionary War. West replied, “He will return to his farm.” The British monarch incredulously said, “If he does that, he will be the greatest man in the world.” On December 23, 1783 Washington did just that and retired to Mount Vernon – despite the encouragement of many to stay in power. Despite the willingness of Americans to crown him king. Thirteen years later, he would do it once again.

In 1787, Washington was coaxed back to Philadelphia to attend the Constitutional Convention. While there he provided the leadership necessary to get the fractious delegates to settle down and complete the work of designing a new constitution. Afterwards, in 1789, he was elected the first President of the United States. He reluctantly ran for a second term in 1792. He refused to run for a third term, setting a precedent that lasted 150 years, and retired once again to his farm.

Abraham Lincoln said, “If you want to test a man’s character – give him power.” George Washington passed that test. Twice in his life he walked away from power and proved that he was indeed the greatest man in the world. He demonstrated that leadership is something that you give – not take – and that power should be used responsibly.

Washington died in 1799, the year that Napoleon Bonaparte became the ruler of France. In contrast to Washington, Napoleon could not acquire enough power. His legendary lust for command drove him to take over much of Europe. “Power is my mistress,” he once claimed, “I have worked too hard at her conquest to allow anyone to take her away from me.”

Years later, having lost all power and living in exile, he lamented "They wanted me to be another Washington."

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Robert Evans Wilson, Jr. is a motivational speaker and humorist. He works with companies that want to be more competitive and with people who want to think like innovators. For more information on Robert's programs please visit:
www.jumpstartyourmeeting.com