HK moves one rank higher in DHL Global Connectedness Index
THE latest edition of the annual DHL Global Connectedness Index (GCI), which analyses international flows of trade, capital, information and people amid the spread of the Covid-19 pandemic in 2020, shows that Hong Kong is ranked 25th globally in connectedness, ranking one notch higher than last year
07 December 2020 - 19:00
The GCI also showed that Hong Kong ranked fifth amongst Asia Pacific countries, taking one step up from the 2018 index. The city also ranked second in economies with the highest proportions of flows crossing national borders.
'Hong Kong continues to rank high in DHL's GCI reports amid challenges brought about by the global Covid-19 pandemic, further solidifying its status as a globally connected economy and its highly esteemed reputation as a financial, commerce and trade hub,' said Chee Choong Ng, senior vice president and managing director, DHL Express Hong Kong and Macau.
'Complementing Hong Kong's high global connectedness and its role as a regional logistics hub are key infrastructure projects in the city such as the completion of the Three Runway System at the airport. DHL is in the midst of expanding the Central Asia Hub to meet our customers' demands especially during these challenging times.'
The new GCI report also contains a ranking of countries that share Hong Kong's international flow, with mainland China on top of the list with 57 per cent, followed by the US, the UK, Singapore and Japan. Asian neighbours Taiwan, Korea, Malaysia, Thailand and the Philippines make up the ranking's latter half.
The GCI report also showed that at the global level, 'current forecasts imply that the index will fall significantly in 2020 due to the distancing effects of Covid-19, such as closed borders, travel bans and grounded passenger airlines. However, it is noted that the pandemic is unlikely to send the world's overall level of connectedness below where it stood during the 2008-09 global financial crisis'.
Furthermore, the report said that trade, capital, and information flows have held up surprisingly well, with international trade rebounding strongly after a sharp plunge at the onset of the pandemic.
The Netherlands is again at the top of the ranking as the world's most globally connected country, followed by Singapore, Belgium, the United Arab Emirates and Ireland to make up the global top five.
Europe grabs the top spot among the world's most globalized regions, with 8 of the 10 most globally connected countries located in the continent. It is leading in trade and people flows while North America is found to be the top region for information and capital flows.
The economies of Cambodia, Singapore, Vietnam and Malaysia are seen to be punching well above their weight in terms of international flows, with regional supply chains being a key factor in Southeast Asian nations' performance.
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