http://www.foreignpolicy.com/story/files/story2823.php
Measuring Globalization 2005 A.T. Kearney/FOREIGN POLICY Globalization
Index
By Foreign Policy & A.T. Kearney
May/June 2005
The fifth annual A.T. Kearney/FOREIGN POLICY Globalization Index shows
that global integration survived the turbulence of the Iraq war, a
sharp economic downturn, and the failure of trade talks. Our ranking
of political, economic, personal, and technological globalization in
62 countries reveals that the world is still coming together. Find out
who's up, who's down, and how they got there.
The noted international economist Joseph Stiglitz called 2003 "a
disaster for globalization." At one level, he was right. The Iraq war
and its aftermath created deep fissures between the United States and
its allies, and the great majority of countries who opposed the war.
The U.N. Security Council, the lead body for international peace and
security issues, was dealt a blow by the willingness of the coalition
to launch a military campaign without its blessing. The war even
prompted boycotts and muttering about possible trade embargoes.
During the height of the Iraq controversy, some German restaurants
posted signs reading, "Sorry, Coca-Cola is not available any more due
to the current political situation." The desire to express political
differences at the cash register was reciprocated in the United
States. One 2003 poll showed that nearly half of Americans preferred
not to buy French goods. Even White House Chief of Staff Andrew Card
was reported to have said that "Virginia wine is fine with me."
Economically, the year did not begin much better. Foreign investment
flows slowed, and trade was stagnant for the first half of the year.
In its meeting at Canc�n, Mexico, the World Trade Organization (WTO)
failed to agree on the reduction of powerful agricultural subsidies in
the United States and Europe. What might have been a dramatic
expansion of free trade fizzled, leaving behind no obvious roadmap for
progress. In the realm of public health, the SARS epidemic grounded
global travelers and exposed unsettling gaps in international health
monitoring. Tourism to Asia dropped precipitously as a result�by as
much as 50 percent in some countries.
Yet this year's edition of the A.T. Kearney/FOREIGN POLICY
Globalization Index shows that the multifaceted force called
globalization is made of sterner stuff. By the second half of 2003,
the ties that bind were connecting us once again. Global trade, which
grew at less than 1 percent in the first quarter, jumped by more than
5 percent in the second half of the year. Global development aid
improved dramatically. The Organisation for Economic Co-operation and
Development estimated that official development assistance reached a
record $69 billion. The largest increase came from the United States,
which boosted foreign aid by more than 20 percent.
The resilience of globalization indicates that it is a phenomenon
that runs deeper than the political crises of the day. In an effort to
measure its many dimensions, the index looks behind the headlines by
using several indicators spanning trade, finance, political
engagement, information technology, and personal contact to determine
the rankings of 62 countries. These 62 countries together account for
96 percent of the world's gross domestic product (GDP) and 85 percent
of the world's population. The index measures 12 variables, which are
divided into four "baskets": economic integration, technological
connectivity, personal contact, and political engagement.
The resulting rankings offer an important high-altitude look at which
countries are globalizing and which are not. But sifting through the
data that come out of the index also yields some interesting stories
behind the broader trends.
The Winners' Circle
The luck of the Irish finally ran out, as last year's runner-up,
Singapore, took the top spot in this year's ranking, ending Ireland's
three-year streak. One key to Singapore's rise was its increased
political engagement.
The island nation built bridges in 2003�increasing its financial
contribution to U.N. peacekeeping missions by 41 percent. (Indeed, a
Singaporean general commanded the peacekeeping force in East Timor for
much of 2003.) Singapore solidified its first-place ranking in foreign
trade by signing a bilateral free trade agreement with the United
States in May 2003, the first such agreement the United States had
signed with an Asian nation. Meanwhile, Ireland's strong economy
slumped, with GDP growth sliding from a robust 6.9 percent in 2002 to
a tepid 1.8 percent in 2003.
There was other movement in the top five. Finland fell from fifth to
10th place. The United States jumped from seventh to fourth and became
the first large country to crack the top five. Nations with large
populations (and large domestic markets) generally fare worse in the
index because they are typically less dependent on foreign trade and
investment. The strong U.S. showing is primarily a result of its
remarkable technological prowess.
A.T. Kearney is a registered service mark of A.T. Kearney, Inc.
FOREIGN POLICY is a registered trademark owned by the Carnegie
Endowment for International Peace.
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