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The world’s two biggest economies have actually ended up being less competitive due to their ongoing trade war, which seems to have no short-term resolution in sight.
Both China and the United States have actually slipped down the World Competitiveness Rankings for this year.
Smaller sized economies consisting of Singapore, Denmark and Switzerland top the list.
The Institute for Management Development (IMD) study said their handling of the coronavirus pandemic assisted reinforce their positions.
The US, the world’s most significant economy, slipped 7 places to 10 th, while China fell six locations to 20 th. The two economic superpowers have actually been locked in a trade w