Hurt by the slowdown of the global commodity boom, Australia drops two places this year but remains in the top 10.

Australia is seeking to further diversify beyond commodity-related investment and propel its manufacturing base into high-technology, innovative products, according to A. T. Kearney.

To help industry-led innovation, the Australian government will fund 10 innovation clusters designed to bring more new ideas to market and underpin Australia's economic ties with Asia.

Opera House viewed from Campbell's Cove at dawn in Sydney on Aug 16, 2013. [Photo/IC]

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