Singapore retained its status for a 10th straight year as the easiest country in which to do business, while emerging markets such as China and India moved up the rankings, according to the World Bank.
Australia fell out of the top 10, dropping to 13th in the World Bank’s annual Doing Business report. It was replaced by Sweden, which had previously been ranked 11th. The U.S. remained in seventh place and Japan slid five spots to 34th place. China rose six spots to 84th, while India climbed 12 places to 130th out of 189 economies, including Hong Kong and Taiwan.