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Taiwan’s global competitiveness move up; Showing its economic stability and innovative capacity

Taiwan’s global competitiveness moved to 12th place this year from the previous 13th place, according to the Geneva, Switzerland-based organization World Economic Forum report.

Taiwan aided by a top ranking in macroeconomic stability and a strong showing in innovative capacity putting the country in the 12th spot.

The results shows the Asia-Pacific region is the world’s most competitive. Taiwan is the 4th best in Asia behind Singapore (first), Hong Kong (third) and Japan (sixth), South Korea (13th) and China (28th).

The organization rated 141 economies through 103 indicators grouped into 12 themes, including health, financial system, market size, business dynamism and capacity to innovate.

“The world is at a social, environmental and economic tipping point where subdued growth, rising inequalities and accelerating climate change provide the context for a backlash against capitalism, globalization, technology, and elites,” according to the report.


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