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Commentary: Do those rankings matter?
Source of the information:
Channel News Asia
There are many reports that rank economies in various aspects of doing business and Singapore tends to rank favourably among these reports. For example, the World Bank Ease of Doing Business Index (benchmarked to June 2011) ranks Singapore first in having a conducive environment in starting and operating a business. The Political and Economic Risk Consultancy (PERC) 2011 survey consistently ranked Singapore as the least corrupt country in Asia and favourably in overall country risk. The World Economic Forum ranked Singapore second in the Global Competitiveness Report 2011-2012 and recently IMD ranked Singapore fourth in the World Competitiveness Yearbook 2012. We are naturally happy when the ranking improves (ranking by Global Competitiveness Report improves from third position in 2010-2011) but should we be worried when the ranking drops (ranking by World Competitiveness Yearbook drops from third position in 2011)?