Sweden is the most innovative economy in the world
In a study done by London business school it is found out that Sweden is the most innovative driven economy in the world. Sweden has ousted US from the throne. The top five economies are Sweden, Japan,US, Finland and Singapore. Countries are selected in terms of technological skills and usage of communication technology. The study observed that Sweden has got the “finest distribution” system and also “excellent internal and external communications”. It has also got a very good skilled labor force too. The study also took into consideration the work done in order to overcome the recent financial meltdown.
Japan ranks second in the list. Japan showed an extra ordinary recovery over a span of 65 years. Mainly because of the upper hand in technology. On a purchasing power parity (PPP) basis Japan is the third largest economy in the world after US and China. Their fiscal deficit and the aging population are the major worries of this nation.
The US is the most technologically powerful economy in the world, the study realized. Almost all the technological developments happen in US for the first time. They are at their summit of communication revolution. But the recent global financial meltdown left some blow on the US economy. The rescue package proved to be very helpful but the US lost it’s first place as the most innovative economy around the globe.
London business school survey called Finland and Singapore as decent economies. They are the most correction free economies around the globe. Finland and it’s service brand Nokia took the communication revolution to next level at least in third world countries. The per capita income of Finland at par with France,Germany and Italy. Which makes the economy much stronger. Both Finland and Singapore are best examples of free market economy. Singapore GDP growth rate was 7 percent upto 2007, but due to recession 2008 growth figure came down to 1.2 percent.
I am a writer. I write poetry and articles related to business and cinema. I have been writing articles for Newspapers and websites. Articles are available in the site www.pramodthomas.com
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