The 2014 Global Competitiveness Report released by the International Institute of Management (IMD) in Lausanne, Switzerland, shows that China’s global competitiveness ranks 23rd, down by two, while the United States ranks first, followed by Switzerland. Singapore, Hong Kong and Sweden ranked third to fifth.

Arturo Bress, director of the Center for Global Competitiveness at the college, said that this year's competitiveness rankings can be summarized as the US stays ahead, the European region is partially recovering, and some emerging economies are weakening.

According to the report, the United States topped the list, reflecting that the economy is recovering, employment is improving, and technology and infrastructure are still leading. The European economy has gradually recovered, accounting for half of the top ten, Switzerland (second), Sweden (fifth), Germany (sixth), Denmark (ninth) and Norway (tenth).

In Asia, Singapore rose two places, ranking third, and Hong Kong, China, fell one place to fourth. As the depreciation of the yen has boosted overseas competitiveness, Japan has risen three places, ranking 21st.

Among the BRICS countries, Russia ranked four places and rose to 38th place, while India and Brazil fell to 44th and 54th respectively due to inefficient business management.

The report was prepared by the Global Competitiveness Center of the International School of Management in Lausanne, Switzerland. It measures the competitiveness of an economy through four major categories of economic performance, government efficiency, business efficiency and infrastructure, and has 60 economies in the world. The body was ranked for analysis. Since 1989, the center has published a competitive report every year.

In addition to the competitiveness rankings, this year's report also ranks according to the evaluation of the international business image of the region by corporate executives. Singapore, Germany and Ireland rank in the top three.