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However, that average masks a huge divergence in China's performance in two important areas.
"There's a huge divergence in performance in this economy between the home-building sector, which is terrible, and everything else, which seems to be doing O.K.," said David Kelly, an economic adviser at Putnam Investments.
China was 118th, a middling ranking that beats India (155th) but falls well below South Africa (72nd), Russia (73rd) and Brazil (77th).However, that average masks a huge divergence in China's performance in two areas.
What are we to make of this huge divergence in views?
"There is a huge divergence in the views and the stance of the two major political parties on the issue of foreign direct investment in retail," says Siddhartha Sanyal, chief India economist at Barclays.
You know, you have huge divergence in unemployment rates across the country.
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"There's a huge divergence between the feelgood factor in the stock market and what's happening in the real economy.
The jobless rate in the euro zone rose to 10.3 percent in October, its highest level since the creation of the euro, although there is huge divergence between the 17 countries in the single currency area.
Because of the carnage to date in the financials, the Russell Growth Index is outperforming the value sector by over 600 basis points in the opening weeks of January, a huge divergence, likely to widen.
Remarkably, there is a huge divergence based on region.
There is however huge divergence between different markets, different sectors and different companies.
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