25 Jan '11, 3am

Singapore slips to No 3 in globalised city ranking

SINGAPORE - Singapore has slipped to the third spot in the ranking for the most globalised city in the world. According to the Ernst & Young Globalisation Index for last year, Singapore lagged Hong Kong, which took the top spot, and Ireland. The index measures the world's 60 largest economies based on their degree of globalisation relative to their gross domestic product (GDP). Singapore was No 1 in the index in 2009. In its latest findings, the accounting firm found that Singapore had lower scores for labour and technology compared to the year before. Managing partner at Ernst & Young, Mr Steven Phan, said: "The lower net migration and reduction of trade in R&D as a proportion of GDP had reduced Singapore's score." But Singapore also saw an improvement in the score for cultural integration and continued to perform strongly in terms of openness to trade and capital movemen...

Full article: http://www.todayonline.com/Business/EDC110125-0000182/Spo...

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