(Yicai Global) Nov. 4 -- China is now the most talent-competitive upper middle-income country in the world, and its ranking has risen for four consecutive years, according to the Global Talent Competitiveness Index report released yesterday.

China’s ranking rose from 37 to 36 this year, after progressing from 42 in 2020, per the report published by INSEAD, the Portulans Institute and the Human Capital Leadership Institute.

China benefits from world-class formal education and employability of talent, Bruno Lanvin, co-founder and director of the Portulans Institute and INSEAD Distinguished Fellow, told Yicai Global.

China ranks high in its ability to grow talent (8th), formal education (2nd) and lifelong learning (6th), the report said. China also features in the first quartile when it comes to enabling talent (31st), with a favorable market landscape (10th) characterized by strong competition. The country is one of the global leaders when it comes to the employability of talent (3rd), and enjoys a strong pool of global knowledge skills (39th), which can be mainly attributed to the talent impact (25th) of its innovative, entrepreneurial economy.

Elements like geopolitical tensions, supply chain disruptions, high inflation and the energy crisis will influence the global talent landscape, said Lanvin. For example, supply chain disruptions may call for the elaboration of alternative trade channels, and stimulate the development of local productions, which are less dependent on international supply chains. Trends towards re-shoring or near-shoring have an immediate impact on the kind of competences needed by national economies. 

International tensions are a major obstacle to international exchanges among students, researchers and workers, the report said, which may also reduce the willingness of companies and governments to support international cooperation and joint ventures.

The younger generation has a distinct view of the world of work. They feel more comfortable in a less hierarchical working environment, are more willing to work for multiple employers on a part-time contract or flexible commitment, and prefer employers who promote sustainability and equality. They are attracted by countries and cities that offer good living and working conditions, both physicall, flexible work spaces, good environment and mobility, access to services, but also on-line like broadband access.

The report found that Switzerland took the overall lead, and European economies, especially Nordic ones, continue to dominate the top 10.

Editor: Tom Litting