Taiwan places 12th in WEF Global Competitiveness ranking | Economics
Oct 10 2019
Singapore took the top spot, as the country benefitted from trade reroutes as a result of the trade war.
Qatar was ranked 29th globally and second in the Arab world, according to the Global Competitiveness Report 2019, published annually by the World Economic Forum (WEF), in collaboration with the Qatari Businessmen Association (QBA) and Qatar University's Social and Economic Survey Research Institute (Sesri). Hong Kong SAR (3rd), Netherlands (4th) and Switzerland (5th) round up the top five.
India's ratio of feminine staff to male staff of zero.26 has fetched it a rank of 128 whereas the nation was positioned at 118th place when it comes to meritocracy and incentivisation.
Romania's highest rankings were for pillars such as ICT adoption (32nd), Market size (41st), Institutions (52nd), Infrastructure (55th), and Innovation capability (55th).
Singapore is the world's most competitive economy, according to an updated global league table.
The difficulties of hiring foreign labour were also highlighted in the report, with Singapore ranked 93rd.
The Forum, organisers of the glitzy annual gathering of business and political elite in Davos, on Tuesday released the Global Competitiveness Report, an annual competitiveness report since 1979, that assesses which economies are well placed to see productivity and long-term growth.
In the overall rating, India is followed by some of its neighbours along with Sri Lanka at 84th arrangement, Bangladesh at 105th, Nepal at 108th and Pakistan at 110th arrangement.
She noted the lack of "hard data" on the impact of United States tariffs imposed on several of its main economic partners, as the set of products impacted remains limited compared to overall trade. On the US, it noted growing uncertainty among business leaders and said trade openness has declined.
On the other hand, Romania ranked lowest for the following competitiveness pillars: Financial system (86th), Health (83rd), Skills (72nd), and Business dynamism (72nd).
2019 Global Competitiveness Index (Top 10).
It was too early to assess the impact of some of the operative factors in the world economy over the a year ago, said the authors of the report.
Hong Kong rose to third from seventh past year on what the report called its stable macro-economy and improved healthcare. As to the healthy life expectancy, China scores better than the United States and slightly under the OECD average.
Announcing its latest index, the WEF said Wednesday India ranks high in macroeconomic stability and market size, and its financial sector is relatively deep and stable despite the high delinquency rate, which contributes to weakening the soundness of its banking system.
Besides, India needs to increase its skills base, while a lack of trade openness undermines its product market efficiency.