Taiwan is the world's fifth-most competitive economy, according to a Global Competitiveness Report released yesterday, a ranking the Cabinet said proves that the Democratic Progressive Party (DPP)-led government's economic revitalization programs work.
"We're happy about the result but not at all content," Cabinet Spokesman Lin Chia-lung (
The World Economic Forum (WEF) survey of 102 countries said that Taiwan rose to fifth place because of its technology strengths.
Pointing to WEF reports over the past three years, Lin called on the public to have faith in the DPP-led government and its resolve to push for economic reform.
"Our ranking in growth competitiveness has gradually climbed since the DPP came to power in 2000 and we believe it'll continue to improve if the DPP stays in power," Lin said.
According to the WEF, Taiwan ranked 10th in the growth competitiveness ranking in 2000, seventh in 2001 and sixth last year.
In the ranking for business competitiveness, Taiwan ranked 21st in 2000 and 2001. It rose to 16th last year and maintained the same place this year.
Finland was ranked the world's most competitive economy, followed by the US and Sweden.
Britain dropped four places to 15th and Canada fell off the top 10 list to stand 16th, both penalized for declines in the quality of their public institutions.
The survey among business leaders measured economic competitiveness based on a combination of technology, the quality of public institutions and the macroeconomic environment.
The US scored high on technology but was weak on the quality of its public institutions and economic environment, particularly public finances, where it ranked 50th.
After Taiwan, Singapore was Asia's best performing country. It moved into sixth place because of a sound economy and the quality of its public institutions.
Japan climbed five places to 11th, partly driven by its strength in technology.
Korea improved to 18th place from 25th due to signs of improving technology and a better economic environment, the report said.
China fell to 44th from 38th, marked by a drop in the perceived quality of its public institutions, with substantially lower scores on independence of its judiciary and corruption in the public sector, the WEF said.
Haiti, Chad and Angola showed the lowest scores.
"If there is one lesson from our exercise, it is that the strength and coherence of government policies have an enormous bearing on a country's ranking," Augusto Lopez-Claros, chief economist of the WEF, said in a statement.
CHAOS: Iranians took to the streets playing celebratory music after reports of Khamenei’s death on Saturday, while mourners also gathered in Tehran yesterday Iranian Supreme Leader Ayatollah Ali Khamenei was killed in a major attack on Iran launched by Israel and the US, throwing the future of the Islamic republic into doubt and raising the risk of regional instability. Iranian state television and the state-run IRNA news agency announced the 86-year-old’s death early yesterday. US President Donald Trump said it gave Iranians their “greatest chance” to “take back” their country. The announcements came after a joint US and Israeli aerial bombardment that targeted Iranian military and governmental sites. Trump said the “heavy and pinpoint bombing” would continue through the week or as long
TRUST: The KMT said it respected the US’ timing and considerations, and hoped it would continue to honor its commitments to helping Taiwan bolster its defenses and deterrence US President Donald Trump is delaying a multibillion-dollar arms sale to Taiwan to ensure his visit to Beijing is successful, a New York Times report said. The weapons sales package has stalled in the US Department of State, the report said, citing US officials it did not identify. The White House has told agencies not to push forward ahead of Trump’s meeting with Chinese President Xi Jinping (習近平), it said. The two last month held a phone call to discuss trade and geopolitical flashpoints ahead of the summit. Xi raised the Taiwan issue and urged the US to handle arms sales to
State-run CPC Corp, Taiwan (CPC, 台灣中油) yesterday said that it had confirmed on Saturday night with its liquefied natural gas (LNG) and crude oil suppliers that shipments are proceeding as scheduled and that domestic supplies remain unaffected. The CPC yesterday announced the gasoline and diesel prices will rise by NT$0.2 and NT$0.4 per liter, respectively, starting Monday, citing Middle East tensions and blizzards in the eastern United States. CPC also iterated it has been reducing the proportion of crude oil imports from the Middle East and diversifying its supply sources in the past few years in response to geopolitical risks, expanding
Pro-democracy media tycoon Jimmy Lai’s (黎智英) fraud conviction and prison sentence were yesterday overturned by a Hong Kong court, in a surprise legal decision that comes soon after Lai was jailed for 20 years on a separate national security charge. Judges Jeremy Poon (潘兆初), Anthea Pang (彭寶琴) and Derek Pang (彭偉昌) said in the judgement that they allowed the appeal from Lai, and another defendant in the case, to proceed, as a lower court judge had “erred.” “The Court of Appeal gave them leave to appeal against their conviction, allowed their appeals, quashed the convictions and set aside the sentences,” the judges
RSS