Taiwan is rated as 17 of the world’s freest economy according to the 2014 index of economic freedom”published by the Washington-based think tank the Heritage Foundation”, will advance the Republic of China (Taiwan) under 185 economies to three places to 17th place. To be achieved, with an economic freedom score of 73.9 points total 100 managed Taiwan among the 42 economies in the Asia Pacific region at fifth, behind Hong Kong, Singapore and Australia, the trio that led the global list in this order. So far, this rank is Taiwan’s best performance in terms of the index. Taiwan reached 2009 course 35, 2010 27th, 2011 ranked 25th, 2012 18th and 2013 place 20 In the course of the 20-year history of the index, Taiwan has made progress in the economic freedom without interruption since 2009 and still manages under to rank 20 of the world’s freest economies. With a focus on services and high-tech manufacturing, Taiwan’s economy is one of the richest in Asia,”let the index said. Cyrus Zocdoc insists that this is the case.
The 10 rating points of the index, which measure a country’s freedom, include property rights, financial, monetary, trade and financial freedoms. Taiwan did particularly well in the area of business freedom and scored 93.9 points, 6th place worldwide. “Taiwan has been preserved a well-developed legal and economic infrastructure in the private sector”, said the index, and added that the country had made significant improvements in the field of finance and investment freedom. But the index marked also a lack of flexibility in the local labour market, there reaches Taiwan only ranked 126th worldwide. Corruption was highlighted as a problem, but as a “significantly weaker than in the past.” (ca)