Regional support for globalisation remains the strongest in China.
According to a TNS survey commissioned by the World Economic Forum, out of 11 Asian countries, China was most in favour of borderless trade and the free flow of labour at 44 per cent compared with the regional average of 28 per cent.
Specifically, the mainland was second only to Vietnam in calling for greater economic and financial co-operation among Asian countries, at 79 per cent and 83 per cent, respectively. However, mainlanders were divided over the potential benefit of such economic liberalisation. People expressing mixed feelings reached 39 per cent, slightly more than the 36 per cent who expect the move to be positive.
Hong Kong was more optimistic about globalisation at 55 per cent.
This makes the city the second most positive in the region, after Indonesia's 59 per cent but ahead of Malaysia's 51 per cent.
``For Hong Kong, this has to be viewed not as a threat to Hong Kong's traditional intermediary role but as an opportunity to capitalise on China's outward expansion, something the Hong Kong government has already positively demonstrated through the signing of the Closer Economic Partnership Arrangement (Cepa),'' TNS Hong Kong managing director Wander Meijer said.
The Cepa pact between Hong Kong and China was ratified in June and paves the way for the scrapping of mainland import tariffs for Hong Kong goods from next month.
At the opposite end of the spectrum, the survey found that Japan was most opposed to an open border policy in the region. Only 5 per cent welcomed such a move while a mere 6 per cent felt that globalisation would be a positive move.
Japan was also the least receptive to a tax hike to help accelerate economic development within the region with only an 18 per cent approval.
This was a far cry from China and Hong Kong, both of which registered a roughly 50 per cent approval for increased taxes to speed up globalisation.
24 December 2003 / 12:03 AM
Only India scored higher at 72 per cent. http://tinyurl.com/2smeu