Report: China best performer among brics economies

CNC
Added On October 11, 2019

The World Economic Forum (WEF) latest annual report has said, in terms of competitiveness, China is by far the best performer among the five BRICS economies.
 
Economy Report has the details.
 
Assessing the productivity and long-term growth of 141 economies, the WEF said China ranks 28th among the world economies in terms of competitiveness. The country was 15 places ahead of Russia, 32 places ahead of South Africa and some 40 places ahead of both India and Brazil.
 
The report showed China has obvious strengths in various areas such as the sheer size of its market, macroeconomic stability, the Information Communication and Technology adoption, and increasing innovation capability.
 
Singapore took the crown of the world's most competitive economy this year from the United States.
 
The WEF lowered the U.S. competitiveness to second place partly due to the country's trade uncertainty.