Economics: Hong Kong and Singapore ranked first and third respectively in Ernst & Young’s Globalization Index 2011 released today.

The third annual Ernst & Young globalization report draws on two sources of original research: Ernst & Young’s Globalization Index, which measures the world’s 60 largest economies according to their degree of globalization relative to their GDP, and a survey of 1,000 senior business executives worldwide, conducted in late 2011, canvassing their thoughts on globalization; as well as a forecast of global and regional GDP growth over the next four years.

Lou Pagnutti, Area Managing Partner, Asia-Pacific of Ernst & Young comments, “While globalization continues apace regardless of weaker growth around the world, it is important to take into consideration that most of this growth comes from Asia: this year 14 of the world’s 60 largest economies according to their degree of globalization relative to their GDP come from Asia, compared to 12 the year before”.

For the full report please see attached files.

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