Thursday, October 9, 2008

China ranks among the world’s top 30 economies

The Global Competitiveness Report 2008-2009 released by World Economic Forum on Oct 8 shows that China is now among the world’s top 30 economy, up by 4 positions from the previous, continuing to lead the growing economies of Brazil, Russia, India as well China, collectively known as BRIC.

The Report was released by the Geneva-based WEF on Oct. 8. The Institute of Economic Structure and Management under National Development and Reform Commission and Research Centre , and Centre for China Economy and Statistics under Tianjin University of Finance and Economics published the report simultaneously.

The Report says China has achieved brilliant results in terms of economic development and plurality, and made remarkable progress in the aspects of poverty alleviation and improvement of people’s life since the late 1970s. China, which is becoming more and more influential in global economy, is now the world’s fourth largest economic entity, following the US, Japan and Germany.

The Report shows India has dropped to the 50th from previous 48th, while Russia gained the 51st rank from previous 58th, and Brazil edged to the 64th from previous 72nd.

The world’s top ten with regard to economic competitiveness are the US, Switzerland, Denmark, Sweden, Singapore, Finland, Germany, the Netherlands, Japan and Canada. The economies in Asia that have surpassed China’s are Singapore, Japan, HKSAR, ROK, Taiwan, Malaysia, Qatar and Saudi Arabia.

By People's Daily Online

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