According to a survey, the US still has the world’s most competitive economy, despite the recent turmoil that has seen some Wall Street giants tumble and others turn to the Federal Reserve for financial bailouts. The US ranked first in a poll of over 12,000 business figures conducted by the Geneva-based World Economic Forum, ahead of Switzerland, Denmark, Sweden and Singapore. Although the Global Competitiveness Index 2008-09 survey was conducted before the US government announced a $700 billion rescue package to save ailing financial companies from collapse, researchers still defended its accuracy.

One of the authors of the report, Margareta Drzeniek Hanouz told that the index measures the ability of economics in such Read more…

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The China Institute of City Competitiveness had named Hong Kong, the special administrative region (SAR) the country’s most competitive city for the third consecutive year in an annual study.

However, according to the report, the city was also facing a shortage of resources and manpower that might affect its future development.

The institute studied the competitiveness of 289 cities in terms of their business and financial market development, educational levels and technological advancement, among other things. Shanghai and Beijing came in second and third.

Hong Kong also took the top spot for being a world-class cosmopolitan city, followed by Beijing and Shanghai.

It was said that Beijing’s international image had been strengthened through Read more…

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