27 Aug '11, 4am

Globalisation's full benefits yet to be unlocked, says expert

Globalisation's full benefits yet to be unlocked, says expert

Asia may be the new economic growth centre today, but it is far from achieving its full growth potential in a "semi-globalised" world, said Professor Pankaj Ghemawat, the Anselmo Rubiralta Professor of Global Strategy at IESE Business School. While the world today may be in its most advanced state of integration, it remains only between 10 and 20 per cent globalised, he said yesterday at a seminar on global prosperity at the National University of Singapore Business School. Prof Ghemawat, a renowned global strategist, was the youngest person in the history of Harvard Business School to be appointed a full professor in 1991. At yesterday's talk, he cited research conducted last year showing that global direct investment amounted to about only 10 per cent, while trade made up about only 28 per cent of gross domestic product. The lack of data, projection bias and the exaggera...

Full article: http://www.asiaone.com/Business/News/Story/A1Story2011082...

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