Aaron Boesky and I have been friends for 20 years and when he told me he was moving to China in around 2002 to start investing in Chinese companies, I quickly realized what a wonderful way for an American business and businessman to achieve more.
Yesterday I read in Chicago Crains how an Irish firm just bought 3 wind mills outside of Chicago.
Everyday I hear of Foreign Investment in the U.S and Vice Versa. Is now the time to take your business into the globalized economy?
The Best Countries For Business, 2009
Jack Gage, author
Everyone's in a downturn. A look at who's best equipped to bounce back.
The economic downturn that's swept the globe has crushed financial markets, exploded unemployment and shaken confidence in the banking system.
The disaster isn't shared equally, though. Some countries are in a much better position than others to rebound from the current malaise by attracting entrepreneurs, investors and workers.
In Pictures: The Best Countries For Business
Who are they? Our fourth annual Best Countries for Business ranking looks at business conditions in 127 economies.
Topping the list for 2009: Denmark, for a second straight year, takes the No. 1 spot.
The U.S. is up two spots to No. 2,
Canada is up four spots to No. 3,
Singapore is up four to No. 4 and
New Zealand is up seven to No. 5.
Big movers included New Zealand (No. 5, up seven spots),
followed by Jordan (No. 33, up 28),
Australia (No. 8, up five),
United Arab Emirates (No. 46, up 28) and
Malaysia (No. 25, up 13).
This is not a tally of economies with high gross domestic product growth, or low unemployment. The goal is to quantify for entrepreneurs and investors the often-qualified information about dynamic economies and what they would consider desirable conditions for business.
Personal freedoms play a big part--it's hard to start a company or find talented employees under totalitarian regimes and military juntas. So we include measures of the right to participate in free and fair elections, freedom of expression and organization.
Taking care of investors, with laws assuring recourse for minority shareholders in cases of corporate misdeeds, is also important. As a barometer for corruption, Transparency International examines the number and frequency of incidents where corporate assets are misused for personal gain.
Amid the financial turmoil this year, we added stock market performance to reflect the extent of disrepair in countries' banking systems, as well as investor confidence in a recovery. Intellectual property rights, the promotion of free trade and low inflation, combined with low taxes on income and investment, give a snapshot of the conditions for business in each.
Special Report: The Best Countries For Business
Special Report: The Best Countries For Business
All was not lost in a tough year for believers in low taxes, free trade and limited bureaucracy. Despite swelling budget deficits, at least 50 countries recently cut or passed plans to cut taxes on individuals and businesses, including eight of the top 10, with individuals and investors in the U.S. and Norway left in the lurch.
The United
Arab Emirates, in particular, has made strides in protecting
intellectual property rights through initiatives like educational
seminars for thousands of students, with support from corporations like
Procter & Gamble
Sliding the most this year was Ireland (No. 14, down 12), which even saw plans for a Guinness mega-brewery shelved by parent Diageo
Expertise, research and published reports--from the Heritage Foundation, World Economic Forum, World Bank, Transparency International, Freedom House, Deloitte Tax, the U.S. Chamber of Commerce and Central Intelligence Agency--all contributed vital analyses of various socioeconomic indicators on the countries included.
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