VCs Have Basically No Confidence in U.S. Government Doing Anything Useful

U.S.-based venture capitalists have a dimmer view of their government’s ability to encourage domestic investment than their peers in eleven other countries, according to a new annual survey of VCs.

VCs in India had the most confidence in their government’s economic policies, followed by China and Japan, according to the survey, which was produced by the National Venture Capital Association and Deloitte. The U.S. came in dead last, below Taiwan and Brazil (!), according to the 10th annual survey, which counted the opinions of more than 300 VC, private equity and other investors globally.

“Decreased confidence in government drives capital away from economies, and if more isn’t done to improve the U.S. policymaking process, we could lose our foothold as the preeminent destination for innovation investment,” said Scott Sandell, current chairman of the National Venture Capital Association, in a statement.

Given that Congress has been unable to do much this year, investors aren’t likely to change their low opinion of Washington anytime soon. (Nor are many other Americans who don’t invest money for a living, according to a new Gallup poll, which found the public’s approval of Congress hovering near a 40-year low)

On a more positive note, the U.S. remained the top choice for a place in which to invest money by a wide margin, followed by Israel, Canada and Germany. (France came in last on this one.) Global investor confidence in the U.S. increased for the third year in a row, according to the survey.

This article originally appeared on Recode.net.

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