According to IMD World Competitiveness Center, Taiwan ranked 14th in the world, falling from number 11 last year. Taiwan was ranked just behind Qatar but ahead of UAE. Hong Kong topped the rankings this year as the US fell to third. (Full rankings PDF.)
Malaysia, South Korea, and Indonesia all fell multiple places this year, while China fell three places from 2015. The IMD rankings have been published since 1989.
Professor Arturo Bris, Director of the IMD World Competitiveness Center, said that Taiwan should rebound next year as it has a solid political and economic foundation, according to CNA. He noted that poor economic growth has dragged down competitiveness recently, but industrial upgrades and improved working conditions should aid growth.