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Last updated at: (Beijing Time) Thursday, May 23, 2002

China Rising to 31st in World Competitiveness

According to the World Competitiveness Yearbook (WCY) 2002 issued by the Lausanne Institute of Management and Development of Switzerland, China has been raised to 33rd position from 31st last year. And China's Hong Kong (9th) and Taiwan (24th) have been listed 3 and 6 ranks lower than last year respectively.


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According to the World Competitiveness Yearbook (WCY) 2002 issued by the Lausanne Institute of Management and Development of Switzerland, China has been raised to 33rd position from 31st last year. And China's Hong Kong (9th) and Taiwan (24th) have been listed 3 and 6 ranks lower than last year respectively.

And Japan (30th) continues to slide this year. It is possible for China to become the strongest economic power in Asia instead of Japan in the near further, according to some reports.

The IMD WCY, with competitiveness of 49 nations on it, using 324 criteria, has been published since 1989 without interruption.

In the WCY 2002, countries with rapid growth suffer from volatility in this year's overall ranking. High flyers such as Singapore (5th), Hong Kong (9th) and Ireland (10th) lose 3 ranks each and pay the price of a huge turn around in economic performance. To a lesser extent, and after some encouraging years, Sweden (11th) and Germany (15th) are also affected by a weakening economy. However, more cautious countries like the Netherlands (4th), Switzerland (7th) and Austria (13th) are reaping the benefits of greater stability in a turbulent environment and rise in the overall ranking. The United Kingdom (16th) and Denmark (6th) have better withstood the uncertainties of the global economy. The US (1st) shines at the top.

Under quality of life, Austria (1st), Luxembourg (2nd), Australia (3rd), Switzerland (4th) and Canada (5th) seem to be the best places to enjoy competitiveness.



--www.imd.ch/wcy

By PD Online Staff Huang Ying

WCY and IMD
What is the WCY?

  • Competitiveness of 49 nations, using 314 criteria
  • Hard data (from international, regional and national sources)
  • Survey data � from the WCY Executive Opinion Survey
  • Published since 1989 without interruption
  • Additional countries, regions and states for reference
  • 36 Partner Institutes help gather the data and ensure that it is accurate

    What is IMD?

    With over 55 years' experience, IMD is consistently ranked globally among the top five business schools for executive development. Its programs are designed for fast-track achievers and leaders, from talented young managers to board-level executives. IMD is truly international. Every year, about 4,000 executives from over 70 countries attend some 20 open enrollment as well as company-specific programs. And the faculty is just as international: over 50 professors of some 20 nationalities. At the cutting-edge of business developments, IMD spends about 20% of its operating budget on research, and maintains a network of learning partnerships with numerous world-class





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