The index measures a nation’s degree of globalization by using its gross domestic product (GDP) as a comparison basis. China and Japan were listed 39th and 40th, respectively, garnering 3.56 and 3.47 points.
“The Ernest & Young index shows that Korea beat Japan and China in globalization thanks especially to advantages in the movement of goods and services category,” said Ryu Jin, a spokesman for Ernst & Young Hanyoung, the Korean partner of the U.K.-based international accounting and consulting company.
Korea marked 5.2 points in the movement of goods and services field while Japan and China earned 4 and 4.3 points, respectively. In terms of the movement of capital and finances, all three Asian countries were in a similar range above 4 points.
Korea ahead of China, Japan in globalization
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So “globalization” is purely a function of trade flows? Edumacation at work at the KT.
The study was done by Ernst & Young, KT is just playing messenger in this case. But of course many from here will probably disagree with the results.
I guess that just goes to show how edumacated the typical management consultant type is, too.
To the extent that the results are purely numerical, how could anyone disagree with them – unless there was some tabulation error. The point is that “globalization” simply is not merely a function of trade flows (and the relatively uninteresting developments in technical knowledge and know-how that go along with it) – although such things are not unimportant. Nor, I think, would anyone claim that, considering the other elements of what constitutes “globalization”, Korea comes off badly compared with Japan or, especially, China. The question is, regardless of their relative standings in the bogus league table standings, any of them should be regarded as significantly “globalized”.
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