In the Chinese Year of the Tiger, two Asian tigers have leapt out of recession to take the top spots in a ranking of the most competitive nations in the world.
In the 2010 edition of the World Competitiveness Yearbook, released on Wednesday by the Lausanne-based Institute for Management Development (IMD), Singapore and Hong Kong have both moved up one spot to take first and second place respectively as the world’s most competitive nations. Both countries have now surpassed the U.S. for the first time in decades, knocking it into third place after its 16-year reign as No. 1.
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