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Canada is losing its competitive edge, according to the World Economic Forum’s latest Global Competitiveness Index published this morning. The country slipped two places from last year’s survey to end as the world’s 14th most competitive economy, eclipsed by fellow developed nations United States, Germany, United Kingdom, Sweden and Japan — among others. Canada had slipped two places in last year’s survey, too.

“Canada’s economy has been hit by external shocks stemming from global trade tensions. The less favourable economic environment has been reflected in somewhat more negative business leaders’ views across several dimensions,” the WEF said. “For instance, Canadian business leaders have revised down their assessment on two important aspects of competition: competition in services (where it ranks 62nd, losing 2.5 points in score and falling 18 places in rank), and the labour market (it ranks 54th on internal labour mobility, falling 25 places over 2018 and losing almost 4 points in score).”