Singapore (1st), Canada (2nd) and Hong Kong SAR, China (hereafter referred to as Hong Kong) (3rd) are the top three in overall rankings of the IPS National Competitiveness Research 2012. Singapore is much more competitive than Canada, with 9 points. In comparison, the difference between Canada and Hong Kong is only 0.9. Singapore is ranked highly in most areas, particularly in the areas of Business Context, Workers, Politicians & Bureaucrats, Entrepreneurs, and Professionals. In Asia, among the four Asian Newly Industrialized Countries (NICs), Singapore takes the lead. Hong Kong has improved since 2003 and moved into the top three for the first time in 2012. Hong Kong shows strengths in most areas, particularly in Demand Conditions (3rd), Workers (3rd), Politicians & Bureaucrats (2nd), and Professionals (4th). Taiwan moved up from 17th to 13th and Korea moved up from 19th to 18th in 2012. Japan, on the other hand, stayed in 23rd place in 2012, being overtaken by UAE.
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