\n<\/p>\n
This year\u2019s rankings also saw strong performances by other Asian economies, with Hong Kong, Taiwan and China all moving up the ladder.<\/p>\n
Hong Kong rose from third to second, a result IMD said was built on three consecutive years of improvement.<\/p>\n
\u201cGovernment efficiency remains its defining competitive strength, keeping second place for the second consecutive year,\u201d said the organisation.<\/p>\n
Taiwan came in fourth, behind Switzerland, on the back of a strong gross domestic product and export growth. These reflect improvements or stability in all four competitive factors, said IMD.<\/p>\n
IMD also attributed China\u2019s climb from 16th to 12th to a sharp improvement in business efficiency, which was helped by gains in productivity and efficiency, finance and the labour market.<\/p>\n
\u201cGovernment efficiency also edged up, rising one place on stronger business legislation and tax policies,\u201d it added. Its economic performance meanwhile fell two places to seventh, led by a decline in international trade.<\/p>\n<\/div>\n
\n
OTHER ASIAN ECONOMIES This year\u2019s rankings also saw strong performances by other Asian economies, with Hong Kong, Taiwan and China all moving up the ladder….<\/p>\n","protected":false},"author":1,"featured_media":61747,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/dam.mediacorp.sg\/image\/upload\/s--WtYc2nyP--\/c_crop,h_576,w_1024,x_0,y_0\/c_fill,g_auto,h_676,w_1200\/fl_relative,g_south_east,l_mediacorp:cna:watermark:2023-11:afp_watermark_14112023,w_0.1\/f_auto,q_auto\/v1\/mediacorp\/cna\/image\/2026\/06\/18\/000_a9ty6z4.jpg?itok=sbsf8Xr8","fifu_image_alt":"","footnotes":""},"categories":[2],"tags":[2027,24967,24968,3935,13166,11398,1816,22,1252,1718,75],"class_list":["post-61746","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buzz-news-sg-global","tag-asian","tag-competitiveness","tag-economies","tag-put","tag-ranking","tag-regains","tag-showing","tag-singapore","tag-spot","tag-strong","tag-top","wpcat-2-id"],"_links":{"self":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts\/61746","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=61746"}],"version-history":[{"count":0,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts\/61746\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/media\/61747"}],"wp:attachment":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=61746"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=61746"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=61746"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}