China ranks 34th in Global Competitiveness Index!

China ranks 34th in Global Competitiveness Index!
Nov 3, 2007 01:52
DREAMLIFE Points: Join Date: Sep 5, 2007 Status: offline	The report made by the World Economic Forum reveals that China is upon one rank this year at 34th place in the Global Competitiveness Index. However it also reveals that China still has some weaknesses in three areas: inancial market, higher education and training, and the quality of public and private institutions. According to the report, the United States still ranks the first place as the world's most competitive economy ahead of Switzerland, Denmark, Sweden and Germany in the Global Competitive Index. However, due to the housing slumps and credit crisis, US's economy may go into its downturn. On the innovation pillar, US is still No.1. China just ranks the 50th compared with India, ranking the 26th. China needs to improve its innovation ability. This is the key issue. China's greatest weakness is financial market sophistication which ranked 118th, with poor ratings in terms of soundness of its banks, legal rights, restriction on capital flows, regulation of securities exchanges and ease of access to loans.

Nov 3, 2007 01:52

DREAMLIFE
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Join Date: Sep 5, 2007
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The report made by the World Economic Forum reveals that China is upon one rank this year at 34th place in the Global Competitiveness Index. However it also reveals that China still has some weaknesses in three areas: inancial market, higher education and training, and the quality of public and private institutions.

According to the report, the United States still ranks the first place as the world's most competitive economy ahead of Switzerland, Denmark, Sweden and Germany in the Global Competitive Index. However, due to the housing slumps and credit crisis, US's economy may go into its downturn.

On the innovation pillar, US is still No.1. China just ranks the 50th compared with India, ranking the 26th. China needs to improve its innovation ability. This is the key issue.

China's greatest weakness is financial market sophistication which ranked 118th, with poor ratings in terms of soundness of its banks, legal rights, restriction on capital flows, regulation of securities exchanges and ease of access to loans.

Nov 4, 2007 21:02

JIMMYB
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Join Date: Feb 7, 2007
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Quote:
"On the innovation pillar, US is still No.1. China just ranks the 50th compared with India, ranking the 26th. China needs to improve its innovation ability. This is the key issue."

China's innovation power lag behind India. So, this fact may have more profound overtone: China will lose its competitive advantange over India in the near future. If China doesn't show more concern for its innovation power, China's Competitiveness will continue declining.

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