Na­tion still rated as one of the most com­pet­i­tive in Asia in WEF re­port

The China Post - - TAIWAN BUSINESS -

Although a re­cent re­port by the World Eco­nomic Fo­rum (WEF) in­di­cates that Tai­wan has slipped one place to rank as the 15th-most com­pet­i­tive econ­omy in the world, it is still one of the most com­pet­i­tive economies in Asia and has man­aged to in­crease its score, said At­tilio Batista, an economist at the fo­rum.

Ac­cord­ing to the WEF, Tai­wan’s com­pet­i­tive­ness rank­ing fell one notch to 15th but it still re­mained fourth in the Asia-Pa­cific re­gion.

Batista said Tai­wan is still one of the most com­pet­i­tive economies in Asia, even though it grew at a slower pace than its peers in the top 20 in the pre­vi­ous year. He also praised the im­prove­ment in the coun­try’s macroe­co­nomic en­vi­ron­ment and the func­tion­ing of its la­bor mar­ket.

How­ever, he pointed out that if the na­tion could in­crease women’s par­tic­i­pa­tion in the la­bor force — which cur­rently ranks 79th out of 140 coun­tries at the WEF — the la­bor mar­ket would work even more ef­fi­ciently.

In terms of Tai­wan’s in­sti­tu­tions, which is another key de­ter­mi­nant of com­pet­i­tive­ness, Bat­sita said there re­mains room for the coun­try to im­prove the ef­fi­ciency and in­de­pen­dence of its ju­di­cial sec­tor, which rank 56th and 47th, re­spec­tively.

The WEF as­sesses the com­pet­i­tive­ness land­scapes of 140 economies, pro­vid­ing in­sights into the driv­ers of their pro­duc­tiv­ity and pros­per­ity. months drops to NT$21.74, there should be a first wave of price cuts. If the av­er­age price falls to NT$16.23, a sec­ond wave of cuts is re­quired.

Do­mes­tic air fares were March, when the av­er­age dropped to be­low NT$21.74. last low­ered in price of jet fuel

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