Internal environment trumps openness policies in global connectivity

Singapore, the world’s most globally connected nation, leads in international flows linked to domestic activities, as per DHL report.

The expert, however, underscored that having policies on openness such as immigration policies, tariff policies, and policies on foreign direct investors, still matters a “great deal.” According to the report, Singapore has the largest international flows relative to domestic activity, topping the depth dimension with a score of 99.0/100. On the breadth dimension, Singapore scored 63.5, ranking 25th overall.

He pointed out how Singapore had laid down the foundations of a strategy to make globalisation a cornerstone of its economic development. “And that strategy has been multifaceted. Everything from the development of infrastructure, the port, the port operations, the trade policies, the foreign direct investment policies,” Altman told the Singapore Business Review.

Relatively, in DHL’s report, the United States also had the largest share in Singapore’s international trade flows at 16%, followed by China , Malaysia , India , Japan , Hong Kong SAR , Indonesia , Taiwan , Korea , and United Kingdom .Like any other country, geopolitical tensions remain a threat to Singapore’s level of globalisation.

“These tensions do pose challenges. I think that kind of the tightrope that Singapore and many other countries have to continue to walk to try to benefit from globalisation,” he added.Since you're here...

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