Taiwan ranked 12th in the latest globalization index from US-based Ernst & Young, a financial planning and accounting advisory service company.
Taiwan was ahead of the world’s two largest economies in the 2010 Globalization Index, which ranked the US at 28th and China at 39th.
The annual index measures and tracks the performance of the world’s 60 largest economies according to 20 separate indicators that capture the key aspects of cross-border integration of business.
Ernst & Young coauthored the report with the Economist Intelligence Unit, which said that after a brief pause in 2009 and a modest rebound last year, the world’s 60 largest economies would continue to globalize steadily between now and 2014, driven by the continued global economic recovery, technological innovation and the rise of emerging markets.
Hong Kong remained the world’s most globalized economy last year, followed by Ireland and Singapore.
Among other Asian economies, Malaysia ranked No. 27, South Korea was No. 33, Vietnam was No. 34 and Japan was No. 42.
The indicators measured in the Ernst & Young Globalization Index fall into five broad categories: openness to trade; capital movement; labor movement; exchange of technology and ideas; and cultural integration.
Taiwan’s average score rose from 4.9 points in 2009 to 5.15 last year, but its ranking dropped one notch to 12th.