Most competive nations

Harvard Business School's Institute for Strategy and Competitiveness released its report on the most competitive nations. The US and Germany are in the top spots this year, China's ranking declines and India's ranking increases.

The U.S., ranked number one in four of the last six years, scored high on business environment, financial markets, and innovative capacity. Germany, number two, benefited from its orientation on exports, the unique competitive positions of its companies, and the quality of its legal and regulatory framework.

Rounding out the Top 10 were Finland, Switzerland, Denmark, Netherlands, Sweden, United Kingdom, Japan, and Hong Kong SAR. Hong Kong increased its ranking by seven, in part by strengthening management education, the efficacy of government boards, and local availability of process machinery, the ISC reported.

Other high-income nations increasing their ranking included Qatar, Norway, and Malta. Advanced economies on the decline included Cyprus, the Czech Republic, Taiwan, and France.