Economic Turmoil? how to fight it

Posted by admin

June 4, 2009

When everyone is worried about the economic slow down and the declining inclination to do business with various countries, an interesting study has been conducted by few to decide the preferred nations with whom the business can be done at present. Though everyone speaks loud about the economic fiasco of the United States, still it is ranked 2nd in the matter of the “best country” to do business. Denmark has retained the “First” position and it is the most preferred nation to do business. While Canada could get the 3rd slot, Singapore is in the “Fourth rank”.

Despite the economic turmoil, many countries improved the rating and gained better ranking. Countries like New Zeland, Jordan, Australia, United Arab emirates and Malaysia recorded improvement in their ranking when the rest of the world is reeling under recession. These dynamic economies have given the required freedom to the upcoming entrepreneurs to start the business without much hindrance. This is in contrast to the countries where the military rule is prevalent and the individual freedom is curtailed. These countries, as confirmed in the study maintained the low tax structure, allowed free trade and limited governmental interference in the working and conduct of the business. Like wise, the infrastructure improvement in country like Jordan helped it to gain the status of the “most preferred nations” to do business with.

On the contrary countries like Ireland, Uruguay, Armenia Paraguay and Latvia recorded discernible slide in their position. Still it is a matter of concern to observe that many nations are yet to fall in line with the strategies followed by the nations which are most preferred. Maybe the economic uptrend in the days to come may change the scenario to bring the conducive atmosphere to increase the international trade for the betterment of the global economy.

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