BEIJING Reuters Switzerland remains the worlds most competitive economy, while the United States has fallen from second to fourth, according to the World Economic Forum.
The United States was overtaken in the WEFs Global Competitiveness Report 2010/2011 by Sweden in second spot and Singapore in third.
Last year the Asian city state ranked third and Sweden fourth.
The WEF attributed Americas slipping competitiveness to a build-up in U.S. macroeconomic imbalances, a weakening of the countrys public and private institutions and concerns about the state of its financial markets.
China moved up two places in the rankings to 27th.
The Geneva-based group released the report ahead of a meeting next week in the port city of Tianjin near Beijing.
Reporting by Aileen Wang and Alan Wheatley; Editing by Ken Wills