Global Competitiveness Report

On September 9, the World Economic Forum released its latest Global Competitiveness Report. In the comprehensive ranking of global competitiveness, China ranks 28th, and has a prominent performance in the field of market scale, innovation ability and technology communication. The report states that the global financial crisis has lasted for more than ten years. Despite a series of stimulus policies adopted by countries, the global economy is still in a cycle of slow or flat productivity growth. Singapore jumped to the top with 84.8 points in the overall competitiveness rankings of 141 economies worldwide. China maintained last year's record, ranking 28th on the list, and was the best performer among BRICS countries. World Economic Forum economist Thierry Geiger: Mainland China is doing very well, ranking 28th, with a higher score. We have seen that (China) capacity has reached the level of developed economies in some areas, and innovation capacity has developed very rapidly. At the same time, this annual report also points out that the changing geopolitical background and increasing trade tensions have exacerbated the uncertainty of the global economy, which may lead to economic slowdown. The report reminds policymakers to consider and formulate plans comprehensively and holistically, to focus on high-quality development and to better balance short-term factors with quarterly reports and election cycles.

World Economic Forum economist Thierry Geiger: The international trading system is still very good, although there is some need to improve the content, but the rule-based system is the general direction. Tariff increases are not helpful, so protectionism in this sense is bad. Tensions can lead to uncertainty, affect business sentiment, and exacerbate the long-term slowdown in the global economy. CCTV reporter Xue Jingmeng: The Global Competitiveness Report of the World Economic Forum 2019 emphasizes the importance of openness once again. In addition, experts pointed out that greater investment in education, skills training and a more balanced and inclusive development model would assist the healthy development of the global economy.