China Releases Latest Global Openness Index: Highlighting the Role of Emerging Powers

China released the latest edition of the Global Openness Index last Wednesday during the 8th Hongqiao International Economic Forum in Shanghai. The index measures the openness levels of 129 economies spanning the period from 1990 to 2024.

2024 Index Performance

• Value: The Global Openness Index for 2024 registered a value of 0.7545.

• Change: The index showed a slight decrease of 0.05% compared to the 2023 figure.

• Issuing Authority: The index is compiled by the Institute of World Economics and Politics under the Chinese Academy of Social Sciences and the Hongqiao International Economic Forum Research Center.

Key Takeaway: The Rise of Emerging Economies

• Core Message: The report, titled "Seeking a New Consensus on Openness under a Balance of Cooperation and Security," underscored that openness and cooperation are the inevitable path to global peace and development.

• Role of Emerging Powers: Liao Fan, Director of the Institute, stated that emerging markets and developing economies have become significant forces in maintaining global openness, adding that future global openness will rely increasingly on these emerging powers.

• China's Openness: China's openness index notably rose from 0.5891 to 0.7634 between 1990 and 2024.

• Engine of Globalization: Wang Xuekun, Director of the Hongqiao Economic Forum Research Center, affirmed that China's practices and measures related to openness are confirmed in the global openness process, continuously providing new growth engines for economic globalization.