News Daily Spot: Hong Kong economy outperforms the US

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Hong Kong economy outperforms the US

The Hong Kong is the most competitive economy in the world, says the prestigious International Institute for Management Development Swiss (IMD). Monday the Center IMD World Competitiveness released its annual 'ranking', which evaluates the economies of 61 countries.

After leading the cast during the previous three years, US down to third place and is exceeded by both the Chinese special administrative region as Switzerland, which ranks second.

According to the IMB, Hong Kong has benefited from its "commitment to a favorable business environment", manifested in low and simple taxes and the absence of restrictions on capital flows, while the success of Switzerland is due to its small size and dedication to quality.

USA still has the best economic performance, but its economy "pure power" "is no longer enough to keep him at the head" of the classification. In general, the features shared by the 20 most competitive economies are "the focus on the business-friendly regulation, physical and intangible infrastructure and inclusive institutions," says IMD.

This year Spain and Argentina improved their positions respectively up to 34 th and 55 th place respectively from the 37th and the 59th place they occupied last year. Chile and Brazil give up one position each, and down from the 55th to the 56th position to 57th and 56th place respectively. Colombia and Peru hold positions: 51st and 54.ยช.

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