Innovation Key to Sustaining America’s Competitiveness

After decades of globalization, the country’s innovation ecosystem faces serious challenges, experts say

President Donald Trump holds a drone as George Mathew CEO & Chairman of Kespry explains how it works during the American Leadership in Emerging Technology Event in the East Room of the White House in Washington, June 22, 2017 Olivier Douliery-Pool/Getty Images

WASHINGTON—The United States is back as the “most competitive economy” in the world, reclaiming the No. 1 spot for the first time since 2008 in the World Economic Forum’s (WEF) annual global survey. However, there is a real challenge in maintaining that position, as the United States keeps losing its capability for innovation in addition to its factories, experts warn.

The United States is at the pinnacle of global success, according to WEF’s 2018 survey, which ranks countries according to 12 drivers of competitiveness. America tops the list of 140 countries in business dynamism, labor markets, and the financial system. In addition, it has near-perfect scores on innovation and market size.