Singapore surpasses the U.S. as having the most innovative economy in the world, according to new report
The United States is no longer the most innovative economy in the world.
According to the annual competitiveness report released by the World Economic Forum, that honor now belongs to Singapore.
The report cites infrastructure, health, financial systems and labor and says that the tiny island nation is benefitting from global trade tension with China.
The United States is ranked 2nd on the list followed by Hong Kong, the Netherlands, and Switzerland.