Taiwan Falls 3 Places in Global Competitiveness Ranking|世界競爭力評比 台灣居全球17.退步3名

Taiwan is ranked No.17 on the World Competitiveness Ranking, released by International Institute for Management Development in Laus-anne Switzerland. This year, Taiwan is three places lower compared to last year and this is also the first time Taiwan fell behind China, which ranks No.13 this year.


The International Institute of Management Development from Swiss has released their latest World Competitiveness Ranking. Among 63 nations that participated in the ranking, Taiwan has fallen two places in economic performance and government efficiency, and is five places lower in industry productivity, 1 place down in basic infrastructure. Overall, Taiwan is ranked No. 17 amongst all countries, three places lower than last year's ranking.

The biggest deficit compared to last year is our industry productivity. I don't think this means that our industries are functioning poorly. I think our industries are doing well. As we improve labor standards, we are putting more pressure on the operation of all companies. This might be why the industry productivity has fallen. This means that our working condition, such as working hours and wages are improving.

The details indices regarding industry productivity have all fallen from last year, the ranking on labor market has fallen the most, down to 38th place from last year's 26th. Taiwan has also fallen one place among all Asian countries to No.4, behind Hong Kong, Singapore, and China. It is worth noting that China made a big leap and moved up 5 places on the global list, and it now at No.13, and No. 3 in Asia, surpassing Taiwan for the first time.

China's economy has seen rapid development in recent years. So it is just a matter of time that it moves up the list. The main reason that Taiwan has fallen 3 places is because its labor market has remained problematic for quite a while, and it has affected the productivity of our industries.

The academics believe that there are still opportunities for Taiwan's competitiveness to improve in the future. However, the academics believe the government should relax regulations as soon as possible and adopt international standards in order to allow the industry to flourish.