But they have a long way to go before catching up with America, according to the recently released 2017 Global Entrepreneurship Index list. In particular, Japan and China lag behind America in a key factor that fosters entrepreneurship – the ability to attract and retain talent. That’s according to the 2016-17 International Competitiveness report (World Economic Forum), which ranks America number 5 in the capacity to attract talent, China 22, and Japan 77. Also, America ranks well ahead of China and Japan in the capacity to retain talent—see table. Tight immigration policies and a conservative business culture add to the talent shortage, because they make it difficult for Japan to attract and retain foreign talent.

Source: Forbes November 27, 2016 16:19 UTC