To be sure, there are many areas in which China does rank first in the world.

FORBES: Commentary

With high inflation levels and the government's loosening of the yuan, which has steadily gained against the dollar, business hub Shanghai, China, moved up two spots to rank 24th in the world, at just under 2% less expensive than New York.

FORBES: Magazine Article

The Chinese sports hero also topped all his countrymen to rank No. 1 on our first Forbes China Celebrity List, released today by Forbes China, the Chinese-language edition of Forbes magazine.

FORBES: Yao's The Man

In China and India, diamond jewelry stands as the clear favorite among women asked to rank their preferred luxury gift, ahead of vacation trips, fashion accessories, cash and electronics.

FORBES: Diamonds Sparkle For The Next Billion Consumers

The Gaokao is China's national educational test, given to 10 million secondary students to determine their rank and placement at university.

WSJ: Can U.S. Universities Stay on Top?