Japan dropped six notches to 27th place, while mainland China and Taiwan moved up one and two notches to 22nd and 11th place, respectively, according to the World Competitiveness Yearbook 2015 published by the International Institute for Management Development (IMD) in Lausanne, Switzerland.
Malaysia (12 to 14), Thailand (29 to 30) and Indonesia (37 to 42) moved down in the ranking of 61 economies for 2015, whereas the Philippines (42 to 41) slightly rose, the IMD said in a press release. India remained at the same spot (44).
"Most Asian economies in decline have seen a drop in their domestic economies and are impacted by weakening/aging infrastructure," it said.
The United States remained at the top of the ranking. Hong Kong (2) and Singapore (3) moved up, overtaking Switzerland, which fell to fourth place. Canada (5), Norway (7), Denmark (8), Sweden (9) and Germany (10) remained in the top 10. Luxembourg jumped five notches to six place.
reporter
Park Sae-jin
swatchsjp@ajunews.com
