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Thread: China ranks 34th in Global Competitiveness Index!

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[quote=DREAMLIFE,253367]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.[/quote]

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