World Openness Index suggests more efforts needed for openness

The latest World Openness Index was released on Sunday at the 6th Hongqiao International Economic Forum in Shanghai, offering valuable insights into the global state of openness.

Compiled by the Institute of World Economics and Politics in conjunction with the Research Center for Hongqiao International Economic Forum, the index serves as a comprehensive measure of openness, assessing various dimensions, including economic, social, cultural, policy, and performance.

The World Openness Index for 2022 reported a decrease of 0.4 percent year on year to be 0.7542, which is also 0.4 percent lower than 2019 and down 5.4 percent from 2008, signaling a continuation of the global trend of declining openness.

Notably, this marks the seventh consecutive year that the index has remained within the 0.75 to 0.76 range. This stagnation suggests that there is still no solid foundation for a recovery, raising concerns about the world's openness, it said.

According to the index, the 10 most open economies in 2022 were Singapore, Germany, China's Hong Kong Special Administrative Region, Ireland, Malta, the Netherlands, Australia, Switzerland, Cyprus and the United Kingdom.

However, despite these leaders in openness, the report indicated intensified disparities in openness between countries, sectors, and regions. The clash between active openness and conservative seclusion has left the world openness situation in a contradictory stalemate, underscoring the need for global collaboration to maintain and expand world opening-up.

The disparities between advanced and emerging economies was noticeable, with advanced economies experiencing a 7.7 percent decrease in openness from 2008 to 2022, while emerging economies and developing countries saw a 4.8 percent increase during the same period.

In terms of sectors, the world cultural openness index and the world economic openness index both experienced declines in 2022, shrinking by 2.9 percent and 0.4 percent, respectively. However, the world social openness index increased by 0.46 percent, offering a glimmer of hope.

The report also highlighted the potential for positive changes, particularly in the realms of scientific and technological progress, digital intelligence, and green development, which can enhance global opening-up.

The policy sector showed signs of improvement, exemplified by a steady increase in the visa openness index, leading to a significant recovery in international flight passenger volumes.

While the global trend suggests a "chill" in the world openness situation, the report also indicates that the "icebreaking" of opening impetus is expected. The world may see positive shifts in openness, driven by advances in technology, policy improvements, and a greater willingness to foster international collaboration.

For more in-depth analysis and discussions, the Hongqiao International Economic Forum continues to be a platform for experts and thought leaders to address the challenges and opportunities surrounding global openness.