The World Economic Forum, headquartered in Geneva, Switzerland, released its "2013–2014 Global Competitiveness Report" on the 4th. According to the report, the Chinese mainland maintained its position at 29th globally, showing no change from the previous year. It continues to lead among the BRICS nations, outpacing Russia, India, Brazil, and South Africa.
In the same report, the rankings of other BRICS countries showed a decline. Russia fell to 64th, South Africa dropped to 53rd, Brazil to 56th, and India to 60th. Notably, the competitiveness gap between China and India widened significantly—from 8 points in 2006 to 31 points in 2013.
Thierry Geiger, an economist from the World Economic Forum who oversees the Asian section of the report, highlighted that China’s performance remains strong compared to other large emerging economies. He remarked, “Considering the scale of its economy, it's a remarkable achievement for China to be ranked within the top 30.â€
However, Geiger also pointed out areas where China needs improvement, particularly in higher education, market efficiency, and technology application. He emphasized the importance of market efficiency, suggesting that China should support the private sector, provide equal opportunities for small and medium enterprises (SMEs), and improve access to credit.
This year’s report evaluated 148 economies worldwide. Switzerland retained the top spot, followed by Singapore and Finland. Germany climbed two places to fourth, while the United States ended a four-year decline by rising two positions to fifth.
The report noted that Europe, despite efforts to manage public debt and prevent the collapse of the eurozone, has not fully addressed deeper issues affecting its competitiveness. Countries like Spain, Italy, Portugal, and Greece need to improve market efficiency and continue fostering innovation and expanding financing options.
Hong Kong and Taiwan ranked 7th and 12th respectively, while Japan and South Korea came in 9th and 25th. In the Middle East and North Africa, Qatar topped the region at 13th, followed by the UAE at 19th. In sub-Saharan Africa, Mauritius took the lead at 45th, surpassing South Africa at 53rd. Chile remained the top performer in Latin America at 34th.
Klaus Schwab, President of the World Economic Forum, stressed the growing importance of innovation for future economic success. He urged collaboration between businesses, governments, and civil society to build an environment that fosters creativity and education.
Since 1979, the World Economic Forum has published the Global Competitiveness Report annually. The ranking is based on the Global Competitiveness Index introduced in 2004, which includes 12 pillars such as infrastructure, macroeconomic stability, and market efficiency. In 2011, the forum updated its methodology to include sustainability factors, introducing the "Sustainability Competitiveness Index" as a key measure of national competitiveness.
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