China has leaped to 34th from 54th in this year's Global
Competitiveness Report, released yesterday by the World Economic
Forum (WEF) in Geneva, Switzerland.
The annual report, based on publicly available data and the
results of a survey by the WEF of more than 11,000 business leaders
in a record 131 countries, is designed to measure the factors
affecting an economy's business climate.
"China's competitive performance reveals a superior
macroeconomic environment," Fiona Paua, head of strategic insight
teams at the WEF, said.
"But if China is to further enhance its position in the global
economy, it needs to address its competitive disadvantages in the
areas of financial markets, higher education and training, as well
as the quality of its public and private institutions," she
said.
The US came top of the list (up from fifth last year), followed
by Switzerland (first last year), Denmark, Sweden, Germany, Finland
and Singapore.
"The United States is endowed with a combination of
sophisticated and innovative firms operating in efficient factor
markets. This is buttressed by a good university system and strong
collaboration between the educational and business sectors in
research and development," the report said.
(China Daily November 1, 2007)
