Times Higher Education (THE), UK's authoritative magazine publishes the world's first ranking for universities in BRICS and emerging economies today (on Dec 5, 2013).

According to Phil Baty, editor of the Times Higher Education rankings, many of the developing nations have put the creation of world class universities very high up on the list of national priorities, which may lead a shift in the traditional balance of power in global higher education.

The following is the excerpt of People's Daily Online's written interview with Phil Baty after the ranking was released.

PD Online: What are the most attractive aspects of the universities in the BRICS countries and other emerging economies?

Phil Baty: I think one really positive element to being a top university in a leading emerging economy is that it is more likely that there will be strong government-level support for developing leading institutions.

Many of the developing nations have put the creation of world class universities very high up on the list of national priorities - indeed, many see it as the key factor for future economic growth. This means that many universities in these countries are benefitting from strong government funding, and support for reforms which may help drive up performance, attract more global talent and allow for more dynamic institutions.

This is a great opportunity when it seems that in some of the developed countries, the financial crisis has led governments to cut funding to universities, and some are really struggling to stay competitive. The increased visibility of developing world universities and their upward movement up the league tables, and a strong environment to encourage globalisation, international exchange and partnerships is very encouraging. We are starting to see, I believe, a shift in the traditional balance of power in global higher education."