Source: Taiwantrade | Updated: 20 May 2011
This is Taiwan's best performance since it appeared on the IMD competitiveness yearbook 17 years ago.
“President Ming-jeou was glad to know the encouraging news and noted that it's a common glory shared by all the nationals,” said Fan Chiang Tai-chi, spokesman of the Presidential Office.
The spokesman continued that the government will not be complacent with the achievement, and will keep moving in the right direction to pursue better performance.
The IMD highlights Taiwan's resilience along with “resistant” Switzerland — ranked just ahead of Taiwan at no. 5 — in the face of the recession that hit the world in 2008-09.
Both Hong Kong and the United States were ranked at the top, with Singapore coming closely behind, followed by Sweden, Switzerland and Taiwan. According to the yearbook, the recovery of financial markets pushed the U.S., which was ranked third in 2010, back to the top.
Canada ranked seventh, ahead of Qatar, Australia and Germany in that order. From the 11th to the 20th positions were Luxembourg, Denmark, Norway, the Netherlands, Finland, Malaysia, Israel, Austria, China and the United Kingdom.
Ranked sixth in the world, Taiwan is no. 3 in Asia, next only to Hong Kong and Singapore. Among the major economies with a population of over 20 million, Taiwan has surged ahead of Canada and Australia, behind the U.S. only.