Global Competitiveness

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srNGApoRE has nudged aside- Sweden to

claim second spot in the annual ranking of

the world's most competitive economies.

. Switz,erland was judged most competitive in the world Economic Forum (wEF)

survey released yesterday while the United

States continued to decline for the third

consecutive year, falling one place to fifth.

studied publicly available dita and

polled more than t4,o0o business leadersrfrom-I42'l"Lli"!t;n"wing

came on

the baik-of its sound-public inltitutions,

which were judged tops for efficiency

and a lack of coriuption

In terms of goods market efficiency which weighs factors such as the prevalence of tride barriers and the iniensity

of local competition - singapore was

European coi.rntries dominate with Swe- ranked first while coming in second for

den third, Finland a place back then Germa- labour market efficiency.

ny at six and the Netherlands seventh.

Singapore also led the world in terms

Greece, struggling yith a sovereign of financial market development and

- .But risis, continues

debt c

its downward trend ranked third for infrastructure.

to 90th place = the lowest-ranked country But it did not fare'as well in other areof the European Union.

as. It was eighth in innovation, lOth in

fapan remains the second-ranked Asian technologicaireadiness, l5th in business

20tt-12

2010-11

Switzei,lahd

Sweden

Finland

'2

7

Unit€distateC

Germany

'4

5

,Netheihnds:

Denmark

Japan ,,',

United

.lg'

9

6

L2

Source: WORLD ECONOMTC FORUM

sophistication and 37th in market size.

"In order to strengthen its competitiveness further, Singapore could encourage even stronger adoption of the latest

technologies as well as measures that...