evidence: "The global business environment rankings can continues to see headwinds stemming from the war in Ukraine, ensuing spike in inflation and cost-of-living crisis, and the current combination of fiscal loosening and monetary tightening amid an economic slowdown.Our ranking for the second quarter of 2023 shows that North America and western Europe remain the best regions in the world to do business. Asia ranks third, ahead of eastern Europe, while Latin America marginally outperforms the Middle East and Africa."prianthi roy, Country Forecast Manager and Europe Analyst, EIU The biggest improvements over the past year are in Vietnam, Thailand, Belgium, Sweden, India and Costa Rica. Vietnam is the overall biggest mover worldwide, climbing 12 spots in the rankings, while Thailand improves by ten places and India by six. The biggest deteriorations are in China, Bahrain, Chile and Slovakia. China is the biggest loser globally, falling by 11 spots in the second-quarter rankings compared with a year earlier. Although the end of the zero-covid policy is positive for firms operating in China, regulatory changes stemming from the statist direction of economic policy as well as rising local costs weigh on its business environment and limit opportunities for international investors.