The World Economic Forum's Global Competitiveness Report 2007-2008 places the US in first place in its competitive index, with Switzerland second. “The United States confirms its position as the most competitive economy in the world," said Xavier Sala-i-Martin, Professor of Economics at Columbia University and co-Editor of the report. "The efficiency of the country’s markets, the sophistication of its business community, the impressive capacity for technological innovation that exists within a first-rate system of universities and research centres, all contribute to making the US a highly competitive economy." Professor Sala-i-Martin noted that some weaknesses, particularly related to macroeconomic imbalances, continue to present a risk to the country’s overall competitiveness potential and to the global economy as a whole. Switzerland was followed, in order, by Denmark, Sweden, Germany, Finland, Singapore, Finland, Japan, the UK and Holland. Chile is the highest ranked country in Latin America, followed by Mexico and Costa Rica. China and India continue to lead the way among large developing economies. Several countries in the Middle East and North Africa region are in the upper half of the rankings, led by Israel, Kuwait, Qatar, Tunisia, Saudi Arabia and the United Arab Emirates.