China fails to improve competitiveness

China failed to improve its international competitiveness standing over the past year, according to
a study by IMD, the Swiss business school. It came 12th out of a group of 30 economics
with a population of more than 20m. The list was headed by the US and Australia and
propped up by Venezuela and Argentina.
The World Competitiveness Yearhook 2003 showed that China's improving standing in terms of economic performance and
government efficiency was counterbalanced by a deterioration in its ranking in business
efficiency and infrastructure. It came out worst among all large economics in the spe-cific
areas of international experience of senior managers and access to local capital markets
fur foreign companies. However, it came top for the low number of industrial disputes,
investment in the telecoms sector and export growth.