China can be more competitive

Policymakers have to deepen reform and spend more funds on R&D to make the country a mature competitor in the global market

China has moved up the global competitiveness ranking, but since it is ranked only 28th, it needs to accelerate its systemic reforms to become a real competitive force in the global arena.

China's ranking edged up one place in the 2014 Global Competitiveness Index of the World Economic Forum, which "assesses the ability of countries to provide high levels of prosperity to their citizens" by measuring "how productively a country uses available resources".