Economy scores top marks in Bertelsmann ranking - Singapore
German non-profit group ranks S’pore most successful among 125 nations
By LEE U-WEN
SINGAPORE’S economy has been ranked the most successful among 125 countries worldwide, easily outperforming all its Asian counterparts. The ranking, released yesterday by German non-profit organisation Bertelsmann Foundation, put Taiwan in fifth spot, while South Korea just made the top 10 in ninth place.
Somewhat surprisingly, the two fastest-growing Asian economies - India and China - came in 42nd and 51st.
Bertelsmann’s latest Transformation index ranked 125 states on the basis of development, management and market economy.
Singapore, however, fared poorly when measured solely against the criteria for constitutional democracy. It was placed 72nd - on par with Russia.
Bertelsmann’s country report for Singapore highlighted the Republic’s economic growth of 7.7 per cent in 2006, noting that the volume of imports and exports grew 13 per cent to US$810 billion that year.
‘Singapore, a highly-developed and successful free-market economy, enjoys a remarkably open and corruption-free environment, stable prices and a per capita GDP equal to that of the four largest western European countries,’ the report said.
It added: ‘With regard to the quality of social market economics, only Singapore has managed to reach the peak in a regional comparison with China and India, closely followed by South Korea and Taiwan.’
Bertelsmann was critical of Singapore’s ‘authoritarian style of government’ and the country’s low ranking of 140th on the latest Reporters Without Borders press freedom index.
It said: ‘Political opposition continues to be restricted to what the government refers to as a ‘lunatic fringe’ that often plays only to a foreign gallery.’
In terms of management performance, Singapore was 32nd for its political decision-making, an improvement of four places from the last study conducted two years ago.
On the topic of sustainability, the report made mention of how Singapore’s political leadership ‘has been very concerned about environmental problems such as industrial and urban pollution’.
Touching on race and religion, the report said: ‘The government takes pains to prevent any disruption of religious and ethnic peace and harmony by strictly implementing rules and regulations drawn up for this purpose.’
Taking into account all the various criteria, such as economic growth and overcoming poverty, the report ranked Singapore third in Asia, just behind Taiwan and South Korea.
Internationally, it ranked 23rd, with the Czech Republic leading the pack.
Source : Business Times - 15 March 2008
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