Globalisation report

Hong Kong and Singapore march ahead

Asia is in the vanguard of globalisation, driven by Hong Kong and Singapore, but businessmen are pessimistic about the challenges ahead, according to a new report by Ernst & Young.
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Hong Kong: Asia's world city?
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<div style="text-align: left;"> Hong Kong: Asia's world city? </div>

Globalisation is still the trend among most of the world’s leading countries, despite protectionist pressures amid a miserable outlook for the global economy, according to Ernst Young’s third annual globalisation report, released yesterday.

But, in case we didn’t need reminding, Thomas Friedman’s grand idea of a world without contours is simplistic at best.

“The world isn’t flat it’s curved, bumpy and you can’t see what’s ahead,” wrote the authors of the report.

Small countries with open economies rank highest in the firm’s “globalisation index”, with Hong Kong and Singapore taking first and third positions and wounded Ireland ranked second.

“Ranked first...

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