The U.S. fell 5 spots in this year's ranking of the best countries for business
Sweden moves up two places to finish second this year. The business climate of the export-oriented economy received high marks for innovation, property rights, risk and low corruption. Stockholm is one of Europe’s leading tech startup hubs. The ratio of national debt to GDP in the Scandinavian country has dropped from 80% in 1995 to 41% last year.The U.S. fell five spots this year to 17, a tick ahead of Spain. The world’s biggest economy at $19.
“Instead of embracing the world, we are pushing it away, and that is bad for business,” says Zandi, who highlights the immigration policy as a major deterrent to the U.S. business climate. The problem of getting visas for highly skilled workers is forcing companies to move overseas. The best and brightest are often taking jobs outside the U.S. It is a double whammy if these people are starting new companies. “It puts a stake in the heart of what makes the American economy tick,” says Zandi.
Watchdog organization Freedom House annually rates countries on the “real-world rights and freedoms enjoyed by individuals.” Thirty-three countries get their highest rating. As of this year, the U.S. is not one of them. The U.S. political freedom score took a hit, with the ng “Growing evidence of Russian interference in the 2016 elections, violations of basic ethical standards by the new administration, and a reduction in government transparency.”. These countries typically fare poorly on innovation, trade freedom and investor protection. The Central African Republic ranks last. The conflict-prone nation has a GDP per capita of only $400.
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