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The World Economic Forum Publicized The'Global Competitiveness Report'

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Core Tip: The World Economic Forum publicized the"global competitiveness report"for 2012 yesterday(Sept.5),according to which Taiwan's global competitiveness ranks 13th

The World Economic Forum publicized the"global competitiveness report"for 2012 yesterday(Sept.5),according to which Taiwan's global competitiveness ranks 13th place for the third consecutive year,outstripping South Korea for the fourth straight year.The government's financial deficit,however,ranks 100th place worldwide,even lower than Italy which is being mired in European-debt crisis.

The government recently reiterated that Taiwan's outstanding government debt amounts to only 37.1%of the nation's average GNP in the previous three years,compared with the 40%ceiling of the Public Bond Law.The WEF survey,though,finds that Taiwan's government financial deficit is not only the worst among the four Asian little dragons but also worse than Italy(86th place)and Portugal(89th place),although it is better than Iceland(106th place),France(114th place),Spain(136th place),Greece(139th place),the U.S.(140th place),and Japan(143rd place).

WEF studies the competitiveness ranking of the world's 144 countries annually,according to three categories,12 pillars,and 111 indicators.Taiwan scores 5.28 points this year,ranking 13th place,trailing only Singapore,Hong Kong,and Japan in Asia but leading Korea for the fourth straight year.Mainland China drops three notches to 29th place this year.

WEF pointed out that Taiwan's advantages lie in high goods market efficiency(eighth place),excellent higher education and training(ninth place),and business sophistication(13th place).

Wu Min-chi,vice minister of the Council for Economic Planning and Development(CEPD),remarked that amid the sluggish global economy,it is not easy for Taiwan to improve in competitiveness score for the third consecutive year."Amid the slackening economy,the most worrisome phenomenon is weak corporate investment.The government will continue to strengthen investment climate and encourage Taiwanese enterprises returning to Taiwan for investment.So long as the economy picks up,Taiwan's economy will advance to another level,"said Wu.

 
 
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