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For the first time in decades, Singapore (1) and Hong Kong (2) have topped the US (3) in IMD’s World Competitiveness Yearbook rankings.

May 28, 2010

For the first time in decades, Singapore (1) and Hong Kong (2) have topped the US (3) in IMD’s World Competitiveness Yearbook rankings. They are so close, however, that it would be better to define them as the leading “trio”. The US has weathered the risks of the financial and economic crisis thanks to the sheer size of its economy, a strong leadership in business and an unmatched supremacy in technology. Singapore and Hong Kong have displayed great resilience through the crisis – despite suffering high levels of volatility in their economic performance – and they are now taking full advantage of strong expansion in the surrounding Asian region. In Q1 in 2010, the Singaporean economy grew by more than 13%!

In the first 10 places, Australia (5), Taiwan (8) and Malaysia (10) also benefit from strong demand in Asia, as well as the implementation of efficient policies, e.g. the three nations rank very well in government efficiency.

Read the detailed report here.

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