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China the best of the BRICS in IMD Competitiveness ranking
May 28, 2015, 3:17 pm

Chief executives of major companies in BRICS attend the BRICS Business Council meet in Johannesburg in August 2013 [GCIS]

Chief executives of major companies in BRICS attend the BRICS Business Council meet in Johannesburg in August 2013 [GCIS]

China at 22 was the highest ranked BRICS country in the 2015 IMD World Competitiveness Yearbook, followed by India (44), Russia (45), South Africa (53) and Brazil (56) out of 61 countries surveyed. The IMD Business School in Lausanne Switzerland has been ranking countries’ competitiveness since 1989. The US was the top performer in 2015, while Venezuela was the worst.

The IMD measures how well countries manage all their resources and competencies to facilitate long-term value creation. The overall ranking reflects more than 300 criteria, approximately two-thirds of which are based on statistical indicators and one-third on an exclusive IMD survey of 6 234 international executives.

China was ranked 19 in 2011 and its improvement from 23 in 2014 was largely due to the recovery in economic performance, where it was ranked fourth in 2015 from fifth in 2014.

India remained at 44 for the second consecutive year after being at 32 in 2011. Its economic performance also improved from 21 in 2014 to 16 in 2015, but this was offset by a further deterioration in infrastructure to 58 in 2015 from 57 in 2014 and 50 in 2011.

Russia slipped to 45 in 2015 from 38 in 2014 as IMD respondents highlighted the negative impact that armed conflict and the accompanying higher market volatility have on competitiveness in an increasingly interconnected international economy.

South Africa eased to 53 in 2015 from 52 in 2014 and 2011. Its economic performance improved to 49 in 2015 from 56 in 2014, but this was offset by a further deterioration in government efficiency to 40 in 2015 from 35 in 2014 and 29 in 2012.

Brazil slipped to 56 in 2015 from 54 in 2014 due to a drop in the domestic economy and less optimistic executive opinions. This was reflected in a drop to 51 in 2015 from 43 in 2014 in economic performance, while government efficiency was ranked at 60 in 2015 from 58 in 2014. Only Argentina is ranked poorer in government efficiency.

Helmo Preuss in Pretoria, South Africa, for The BRICS Post

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