RI inches higher on list of competitive nations<\/p>\n
Associated Press
\nLausanne, Switzerland<\/p>\n
Indonesia inched up to the 47th spot this year from the 49th
\nposition in 2001 on the list of the world's most competitive
\nnations, which is published by the Switzerland-based
\nInternational Institute for Management Development.<\/p>\n
The country ranked 44th in 2000.<\/p>\n
The United States remains the world's most competitive nation
\nin 2002, but other high fliers like Singapore and Hong Kong have
\nlost ground in the turbulent economic environment, according to
\nthe institute's annual survey released on Tuesday.<\/p>\n
Japan, which at one time headed the list for eight straight
\nyears, fell to 30th place, while struggling Argentina dropped to
\nthe bottom of the 49 countries covered in the poll of business
\nleaders.<\/p>\n
The survey said 2001 was \"a year to forget\" in terms of
\ncompetitiveness, and predicted only a bumpy road toward
\nimprovement in 2002.<\/p>\n
\"The economy rapidly lost steam and the stock market plunged,
\ndragged down by the technology sector. The dramatic events of
\nSept. 11 accentuated the correction,\" the report said.<\/p>\n
\"The economy will remain highly volatile, especially in Asia.\"<\/p>\n
Finland, Luxembourg and the Netherlands each moved up one
\nplace to second, third and fourth, respectively, while Singapore
\ndropped from second to fifth on the list.<\/p>\n
Switzerland's stable economy allowed it to move from 10th on
\nthe list to seventh, and Canada picked up one place to move to
\neighth. Hong Kong, the largest growing economy in 2000, and
\nIreland, each dropped three places to ninth and 10th,
\nrespectively.<\/p>\n
The United States, which has topped the survey every year
\nsince 1994, was ranked first for business efficiency, direct
\ninvestment flow and use of computers.<\/p>\n
However, it came bottom of the 49 countries for its US$413.6
\nbillion current account deficit and for its exports of goods as a
\npercentage of gross domestic product. Other areas where it ranked
\nlow included cost of living, industrial disputes, alcohol and
\ndrug abuse and youth unemployment.<\/p>\n
The survey found that the scandal surrounding the collapse of
\nenergy trader Enron Inc. and other high-profile bankruptcies had
\neroded public confidence in corporate figures.<\/p>\n
\"A far-reaching overhaul of accounting and auditing practices
\nmay be the price to pay for renewed business confidence,\" the
\nsurvey said.<\/p>\n
Japan, the world's second-largest economy, is suffering a
\n\"midlife crisis\" that is longer and deeper than expected, the
\nreport said.<\/p>\n
\"Consequently, it will not contribute to a recovery in the
\nworld economy to the same extent as in the past. The successful
\nintroduction of the euro will also challenge the yen's position
\nas an alternative to the dollar.\"<\/p>\n
Overall, the report said, despite the economic slowdown and
\nincreased market consolidation in 2002, \"the continuous growth in
\nthe size of world markets remains the most fundamental long-term
\nfactor affecting world competitiveness\".<\/p>\n
\"The opening of world markets, despite present trade tensions,
\nhas provided access to huge potential markets, especially in
\nemerging countries,\" it added.<\/p>\n
Table<\/p>\n
Rankings in the World Competitiveness Survey:<\/p>\n
Country 2001 2000
\n1. United States 1 1
\n2. Finland 3 4
\n3. Luxembourg 4 6
\n4. Netherlands 5 3
\n5. Singapore 2 2
\n6. Denmark 15 13
\n7. Switzerland 10 7
\n8. Canada 9 8
\n9. Hong Kong 6 12
\n10. Ireland 7 5
\n14. Australia 11 10
\n24. Taiwan 18 20
\n26. Malaysia 29 27
\n27. South Korea 28 28
\n30. Japan 26 24
\n31. China 33 30
\n34. Thailand 38 35
\n40. Philippines 40 37
\n47. Indonesia 49 44<\/p>",
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