With an overall score of 5.15, Taiwan remained in third place in Asia. Compared with 2009, the country moved one notch down worldwide but saw its globalization index increase by 0.25 points.
Hong Kong, with 7.48 points, ranked as the most globalized economy, followed by Ireland and Singapore, at 7.34 and 6.78, respectively. The world’s top two economic powers, the U.S. and mainland China, finished 28th and 39th, respectively.
James Wang, country managing partner of Ernst & Young Taiwan, said, “Small areas such as Taiwan, Hong Kong and Singapore are highly dependent on globalization to maintain economic growth.” The financial firm is positive about the benefits Taiwan has acquired through globalization, he said.
As for other Asian economies, Malaysia placed 27th, South Korea 33rd, Vietnam 34th and Japan 42nd.
The index is part of a report jointly published by Ernst & Young and U.K.-based Economist Intelligence Unit, which forecast the 60 major economies “will continue to globalize steadily between now and 2014, driven by the continued global economic recovery, technological innovation and the rise of the emerging markets.”
The annual Ernst & Young Globalization Index measures economic performance based on 20 separate indicators in five categories: capital movement; cultural integration; exchange of technology and ideas; movement in labor; and openness to trade. (THN)
Write to Elaine Hou at elainehou@mail.gio.gov.tw