FROM STRENGTH TO STRENGTH:

The United States climbed to third in a leading ranking of the world's most competitive economies, rising for the second straight year because of more positive views of the nation's business climate, innovation capacity and strength of public and private institutions. [...]

"U.S. companies are highly sophisticated and innovative, and they are supported by an excellent university system that collaborates admirably with the business sector"  on research and development, the latest report said.

"Combined with flexible labor markets and the scale opportunities afforded by the sheer size of its domestic economy -- the largest in the world by far -- these qualities make the United States very competitive," the report concluded.

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