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Asian Countries Make Up 4 of the top 10 Most Competitive Economies


Wednesday, May 19th, 2010

According to the IMD business school in Lausanne, Switzerland, four out of the top ten competitive economies in the world are based in Asia, not a surprise to those who follow business and economics.

Called the 2010 World Competitiveness Yearbook, the Swiss business school report analyzed 58 countries, focusing on social, economic and financial data to come up with their list.

Examined are four specific categories: infrastructure, economic performance, government efficiency and business efficiency.

Elements within those categories include the provision of high-speed Internet, debt stress (a new metric) and how good the research and development in a country is.

The four countries from Asia appearing in the top ten are Singapore, which was in the No. 1 spot, Hong Kong, placing second, Taiwan came in at No. 8, and Malaysia landed in the No. 10 spot.

Malaysia may have been the biggest surprise. Not because of the fundamentals of the country, but being a relative unknown in the public eye.

America came in third, as concerns over financial markets and the government debt knocked them out of 1st place from last year.

For Singapore to retain its top spot, IMD said they'll need to increase their economic relationships with other countries in the region to participate stronger in the economic growth in the Asia Pacific.

Other countries listed in the top ten were, Switzerland at number 4, Australia at number 5, Sweden at number 6, Canada at number 7  and Norway at number 9.



Article by Gary B

The views expressed are the subjective opinion of the article's author and not of FinancialAdvisory.com



Tags: asia business , hong kong business , malaysia business , singapore business , taiwan business , top business countries

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