posted on Oct, 30 2003 @ 11:16 AM
The United States and Finland are the two most competitive economies in the world, according to a report by the World Economics Forum.
The new report rates countries on various measures of business competitiveness.
In the key global competitiveness category, Finland has overtaken the United States as the country which has the best climate for economic growth.
And five northern European countries are represented in the top 10, while only Taiwan and Singapore are from Asia.
The new ratings may reflect a change in the way the scale was constructed, which gave less weight to the size of the public sector and more weight to
the perceptions of honest government when considering the quality of public institutions.
"If there is one lesson to be drawn from our report, it is that the strength and coherence of government policies have an enormous bearing on a
country's ranking," said Augusto Lopez-Claros, chief economist of the World Economic Forum.
I was quite surprised by this. I have always seen the Finnish economic structure as somewhat unflexible. Good to see that that isn't the case
The other thing that surprised me was China's low ranking (44th, dropping from 33rd last year).
[Edited on 30-10-2003 by Paradigm]