China's takes 27th in world competitiveness rankings

The World Economic Forum released the "Global Competitiveness Report 2010-2011" in Beijing on Sept. 9, 2010. China's competitiveness ranked 27th in the world this year, compared to 29th last year.

According to the report, some developed economies and developing economies in Asia achieved high rankings on the list with Singapore ranking third, and Japan and Hong Kong both in the top 20. Among large developing economies, China again ranks first, up two places from last year.

Switzerland ranked first for two consecutive years. After falling from the first position last year, the United States fell further in 2010, dropping to fourth place behind Sweden and Singapore.

In addition to the increasingly severe macroeconomic imbalance problem, the weakening of U.S. public and private institutions and the public's concerns about the financial markets are also reasons for the country's drop in the rankings.

The Northern European countries have been performing well, with Sweden, Finland and Denmark among the top 10.

The World Economic Forum, one of the most famous institutions engaged in the international competitiveness evaluation, began to evaluate the competitiveness of countries in 1979. It released the annual "Global Competitiveness Report" through the comprehensive examination and evaluation of a certain country.

The ranking of national competitiveness in the "Global Competitiveness Report" is based on the Global Competitiveness Index, which covers 12 main competitive factors and may comprehensively reflect the competitiveness situations of countries in the world in different development stages.

The 12 factors include institutions, infrastructure, macroeconomic environment, health and primary education, higher education and training, and goods market efficiency.

By People's Daily Online