Taiwan remains at 13th in WEF competitiveness

According to the WEF, Taiwan is still strongly competitive yet needs to improve its budget deficit situation.

In this year's report, Taiwan took No. 1 in many categories including fixed-line penetration rate, efforts to curb inflation, medical advances and development of high-tech clusters.

Taiwan is also commended for progress made in several areas including “laws and regulation,” “infrastructure,” “higher education,” “commercial market efficiency,” “labor market efficiency” and “financial market development.”

Yet the nation's rankings fell in the following categories: “macroeconomic climate,” “health and rudimentary education,” “market size” and “innovation,” the last of which is ironic given Taiwan is being described as an “innovation-driven” economy in the report.

Taiwan's regulatory regime was ranked No. 10 this year, a jump from No. 30 last year. Government transparency ranked No. 6 this year compared to last year's No. 5. Commercial maturity ranked No. 13 just as it did last year. Innovation ranked No. 14, down from No. 9 last year. While the rankings go up and down, they are within the top range compared to other nations.

Yet the WEF warned of the specter of budget deficit, which in Taiwan accounted for 4.9 percent of total GDP last year, ranking No. 91 across the globe. This year the percentage narrowed to 4.3 percent, which the WEF said could still be improved.

As for other nations, Korea ranked No. 19 in total, a jump from No. 24 last year. China ranked No. 29, down from No. 26 last year.

Switzerland ranked No. 1, while Singapore maintained its second place.

SHARE CLOSE
Blogger		Google+
Live Journal		Plurk
Stumble Upon

Tweet

	PREVIOUS ARTICLE
	Shares of AUO sharply higher on news of alliance with HTC

NEXT ARTICLE
Gov't reveals record-breaking consumer price index in Aug.

Write a Comment

Terms

Enter your comments - 3000 characters max

Type in image code

 Receive China Post promos
 Respond to this email

Submit