Switzerland tops the overall rankings in The Global Competitiveness Report 2010-2011 released by the World Economic Forum ahead of its "Summer Davos" in Asia.
The US falls two places to fourth position, overtaken by Sweden (2nd) and Singapore (3rd), after already ceding the top place to Switzerland last year.
"In addition to the macroeconomic imbalances that have been building up over time, there has been a weakening of the US’ public and private institutions, as well as lingering concerns about the state of its financial markets," the WEF said in a statement.
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