World Economic Forum Ranks Taiwan the Most Competitive Economy in Asia, 5th Globally
The annual numbers and rankings are out from the Global Competitiveness Report (2005-2006) of the World Economic Forum (WEF). Here they are, gentle reader, the best places in the world to do business, the top 10 most competitive economies in the world:
- Finland
- United States
- Sweden
- Denmark
- Taiwan
- Singapore
- Iceland
- Switzerland
- Norway
- Australia
Yep, nice rankings, as once again the two of the "Asian Tigers" crack the top 10! You will notice, though, that Japan did not make the list this year; it is currently ranked as 12th (previously 9th) because of trouble with public finances. South Korea is at 17th place, with Malaysia at 24th, Hong Kong at 28th, and China at 49th.
A bit more on these numbers: Hong Kong is saying that its ranking is miscalculated, of course, though the WEF says the HK economy has slipped because of -- pay attention here -- interference from China and increasing corruption. South Korea, on the other hand, is delighted that it jumped 12 places in the overall rankings.
This index also has 3 subsections. In the technology subsection, Taiwan ranked 3rd overall. Not too shabby at all!
Elsewhere, Europhiles won't be too pleased to hear that overall many European economies are becoming steadily less competitive. France, Germany, Italy, Spain, and even the UK are not among the top 10.