US 'no longer technology king'
- US 'no longer technology king'
Thursday, 29 March 2007
The US has lost its position as the world's primary engine of
technology innovation, according to a report by the World Economic Forum.
The US is now ranked seventh in the body's league table measuring the
impact of technology on the development of nations.
A deterioration of the political and regulatory environment in the US
prompted the fall, the report said.
The top spot went for the first time to Denmark, followed by Sweden.
Countries were judged on the integration of technology in business,
the infrastructure available, government policy favourable for
fostering a culture of innovation and progress and leadership in
promoting the usage of the latest information technology tools.
The Networked Readiness Index, the sixth of its kind published by the
World Economic Forum with Insead, the Paris-based business school,
scrutinised progress in 122 economies worldwide.
Despite losing its top position, the US still maintained a strong
focus on innovation, driven by one of the world's best tertiary
education systems and its high degree of co-operation with industry,
the report said.
NETWORKED READINESS INDEX RANKINGS 2006 (2005)
1: Denmark (3)
2: Sweden (8)
3: Singapore (2)
4: Finland (5)
5: Switzerland (9)
6: Netherlands (12)
7: US (1)
8: Iceland (4)
9: UK (10)
10: Norway (13)
The country's efficient market environment, conducive to the
availability of venture capital, and the sophistication of financial
markets, was also given recognition.
Denmark is now regarded as the world leader in technological
advancement, with its Nordic neighbours Sweden, Finland and Norway
claiming second, fourth and 10th place respectively.
"Denmark, in particular, has benefited from the very effective
government e-leadership, reflected in early liberalisation of the
telecommunications sector, a first-rate regulatory environment and
large availability of e-government services," said Irene Mia, senior
economist at World Economic Forum.
European countries to make the top 20 included Switzerland in fifth
place, the Netherlands, one of the most improved in sixth, the UK
(nine), Germany (16), Austria (17) and Estonia (20).
While countries from Asia and the Pacific continued to progress, the
powerhouse economies of China and India both showed a downward trend.
India was four positions down on last year to 44th, suffering from
weak infrastructure and a very low level of individual usage of
personal computers and the internet.
China was knocked to 59th place, nine positions down, with information
technology uptake in Chinese firms lagging.
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