East Asia Competitiveness | |
Growth Competitiveness Index (GCI) rankings
| Economy | GCI rank (out of 117) | GCI score (out of 7) |
| Taiwan, China | 5 | 5.58 |
| Singapore | 6 | 5.48 |
| Japan | 12 | 5.18 |
| Korea (Republic of) | 17 | 5.07 |
| Malaysia | 24 | 4.90 |
| Hong Kong SAR | 28 | 4.83 |
| Thailand | 36 | 4.50 |
| China | 49 | 4.07 |
| India | 50 | 4.04 |
| Indonesia | 74 | 3.53 |
| Philippines | 77 | 3.47 |
| Vietnam | 81 | 3.37 |
| Pakistan | 83 | 3.33 |
| Mongolia | 96 | 3.16 |
| Sri Lanka | 98 | 3.10 |
| East Timor | 108 | 2.93 |
| Bangladesh | 110 | 2.86 |
| Cambodia | 111 | 2.84 |
Rankings & info for East Asia 2006
Unlike some regions, where countries cluster behind one or two top performers, Asian economies are spread throughout the full range of the Report index.
- Leading the region are the Asian tigers, Taiwan (China) and Singapore, ranked 5th and 6th respectively.
- Japan has one of the world’s worst rankings for budget deficit (113th place) and public indebtedness (114th). Japan’s impressive technology performance – extremely high rankings in R&D, firm-level technology absorption and patent registration, second only to the USA – help compensate for shortcomings in fiscal discipline.
- Hong Kong has dropped seven places since 2004, following a tangible deterioration in its institutional environment. Hong Kong’s rankings on judicial independence, property rights, favouritism and corruption have fallen below previously excellent levels.
- India has moved up five places. This reflects greater business confidence as a result of increased FDI to technology-intensive sectors. Remaining worries include the budget deficit (116th place out of 117), high illiteracy rates, low tertiary enrolment, infrastructure and excessive “red tape”. Despite these concerns, India certainly has the potential to become an engine of international growth.
- Korea made one of the largest improvements in all 117 economies ranked this year by moving up 12 places. This demonstrates Korea’s recovery from the 2003 credit card crisis which had depressed its previous ranking.
- Mongolia, East Timor and Cambodia were newly added this year. The agenda for reform in these countries is very demanding across a wide range of areas.
- China, at 49th place, is three places lower than last year. This is because two countries newly-added this year attained higher ranks.
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