Posted on 10/13/2004 11:13:18 AM PDT by knighthawk
NEW YORK (Reuters) - Finland is the world's most competitive economy, followed by the United States, Sweden, Taiwan, Denmark and Norway, according to a Global Competitiveness Report released Wednesday.
The annual report by the World Economic Forum ranks countries according to economic growth prospects based on technological progress, the quality of public institutions and the macroeconomic environment.
Finland, home to mobile phone giant Nokia (up $0.20 to $14.00, Research), captured first place for the third consecutive year for the best growth prospects, the Geneva, Switzerland-based WEF said in its survey of 104 countries.
It said Finland was "very well managed" at the macroeconomic level, praised the country for the high quality of its public institutions and said its private sector readily adopted new technologies and nurtured innovation.
The United States held second place, as it did in 2003.
The WEF said U.S. "technological supremacy" was offset by weaker performance related to the quality of its public institutions and the stability of the macroeconomic environment. However, it ranked the United States first on a separate business competitiveness index.
Nordic countries held five of the top 10 places, with Norway getting the biggest promotion, to 6th place from 9th in 2003.
Among other European countries, the United Kingdom rose to 11th from 15th place last year. The WEF said Estonia, in 20th place, was by a significant margin the most competitive of the 10 countries that joined the European Union in May.
Bad marks for Italy
Italy, which ranked 26th in 2001, continued to plummet, dropping another six places from last year to rank 47th.
The WEF cited sharp drops in the quality of Italy's public institutions, singling out worries over judicial independence, favoritism in public sector decision-making and the business costs of crime.
In Asia, Taiwan and Singapore continued to lead the region. Japan moved into the top 10, rising to 9th place from 11th as a strong economic recovery boosted business confidence. China was broadly unchanged, falling two notches to 46th place.
With the exception of rising star Chile, by far the region's most competitive economy with a rise to 22nd place from 28th last year, Latin American countries scored badly.
Latin America's No .1 economy, Brazil, dropped three places to rank 57th. Mexico slid one place to 48th and Peru, Bolivia and the Dominican Republic all tumbled by at least 10 positions.
The WEF noted that Argentina's rise to 74th place from 78th reflected a bounce with respect to very depressed levels last year. The country is struggling to recover from the biggest debt default in history.
The WEF said "policy instability, inefficient bureaucracies and corruption" blighted Latin America.
South Africa led Africa, ranking 41st, while Angola, Chad and Bangladesh ranked lowest on the global index.
In a separate ranking for business competitiveness, the United States retook the leading position after dropping to second place behind Finland last year.
Ping
Link?
BWAHAHAHA!!!
Bug off Euroweenies.
thanks.
"China fell two notches to 46th place."
I've been reading hysterical postings on this web-site for months claiming that China and India were poised to overtake the US as "global superpowers". And Japan (rated 9th) wasn't even on their radar screen.
The ignorance of the intellectual class never ceases to amaze.
Got it from CNN
I've been reading hysterical postings on this web-site for months claiming that China and India were poised to overtake the US as "global superpowers". And Japan (rated 9th) wasn't even on their radar screen.
I imaagine that the low score has to do with the social aspects I wonder what the score would be in the separate economics-only score. I bet it scores very high.
I imaagine that China's low score has to do with the social aspects I wonder what the score would be in the separate economics-only score. I bet it scores very high.
What criteria are used to determine competitiveness at the nation-state level?
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