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Institute for Management Development, a Switzerland-based business school, has announced the findings of its annual World Competitiveness Yearbook.
The WCY rankings measure how well countries manage their economic and human resources to increase their prosperity.
One-third of the 329 ranking criteria come from an exclusive IMD survey of more than 4,200 international executives, which reveals a growing scepticism in some of the 59 economies towards globalisation and the need for economic reforms
Let's take a look at the most competitive countries in the world.
Hong Kong
Score (2012): 100
Global rank (2011): 1
Global rank (2012): 1
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The United States
Score (2012): 97.75
Global rank (2011): 2
Global rank (2012): 1
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Switzerland
Score (2012): 96.68
Global rank (2011): 5
Global rank (2012): 3
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Singapore
Score (2012): 95.92
Global rank (2011): 3
Global rank (2012): 4
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Sweden
Score (2012): 91.39
Global rank (2011): 4
Global rank (2012): 5
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Canada
Score (2012): 90.29
Global rank (2011): 7
Global rank (2012): 6
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Canada
Score (2012): 89.96
Global rank (2011): 6
Global rank (2012): 7
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Norway
Score (2012): 89.67
Global rank (2011): 13
Global rank (2012): 8
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Germany
Score (2012): 89.26
Global rank (2011): 10
Global rank (2012): 9
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Qatar
Score (2012): 88.48
Global rank (2011): 8
Global rank (2012): 10
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The Netherlands
Score (2012): 87.16
Global rank (2011): 14
Global rank (2012): 11
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Luxembourg
Score (2012): 86.05
Global rank (2011): 11
Global rank (2012): 12
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Denmark
Score (2012): 84.88
Global rank (2011): 12
Global rank (2012): 13
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Malaysia
Score (2012): 84.22
Global rank (2011): 16
Global rank (2012): 14
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Australia
Score (2012): 83.18
Global rank (2011): 9
Global rank (2012): 15
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The United Arab Emirates
Score (2012): 82.49
Global rank (2011): 28
Global rank (2012): 16
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Finland
Score (2012): 82.47
Global rank (2011): 15
Global rank (2012): 17
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The United Kingdom
Score (2012): 80.14
Global rank (2011): 20
Global rank (2012): 18
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Israel
Score (2012): 78.57
Global rank (2011): 17
Global rank (2012): 19
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Ireland
Score (2012): 78.47
Global rank (2011): 24
Global rank (2012): 20
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Austria
Score (2012): 77.67
Global rank (2011): 18
Global rank (2012): 21
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South Korea
Score (2012): 76.75
Global rank (2011): 22
Global rank (2012): 22
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China
Score (2012): 75.77
Global rank (2011): 19
Global rank (2012): 23
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New Zealand
Score (2012): 74.88
Global rank (2011): 21
Global rank (2012): 24
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Belgium
Score (2012): 73.48
Global rank (2011): 23
Global rank (2012): 25
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Iceland
Score (2012): 71.54
Global rank (2011): 31
Global rank (2012): 26
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Japan
Score (2012): 71.35
Global rank (2011): 26
Global rank (2012): 27
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Chile
Score (2012): 71.28
Global rank (2011): 25
Global rank (2012): 28
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France
Score (2012): 70.00
Global rank (2011): 29
Global rank (2012): 29
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Thailand
Score (2012): 69.00
Global rank (2011): 27
Global rank (2012): 30