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[Taiwan Immigrants’ Global News Network] The Heritage Foundation, an American think bank, recently released the 2023 Index of Economic Freedom. Taiwan ranks fourth among 184 economies in the world, second only to Singapore in Asia, the best result over the years.
Read more: Taiwan: Force for Good” to Let Taiwan be seen by the Globe.
2023 Index of Economic Freedom.Photo provided by Taiwan Heritage Foundation website
Since 1995, the Heritage Foundation has rated 184 nations' economy annually based on four key policy indicators: the effectiveness of market regulation, the scale of the government, the rule of law, and free markets. It is further separated into 12 evaluation criteria, such as property rights, judicial efficacy, government honesty, tax burden, government spending, fiscal health, labor freedom, currency freedom, trade freedom, investment freedom, and so forth.
The Heritage Foundation is celebrating its 50th anniversary this year, and President Tsai Ing-wen expressed her gratitude to Dr. Edwin Feulner and the Heritage Foundation for their sustained attention to and support of Taiwan-US relations when they met at the Office of the President on the morning of March 2nd. Dr. Furner also noted in his address that Taiwan's placing of fourth in the competition this time is the highest in its history and cited Harvard University professor Robert Barrow's claim that the representative will bring greater riches, growth, and prosperity to the people, and it will also result in a freer living when the economy is more open.
Taiwan is ranked fourth in this year's Index of Economic Freedom, with Singapore, Switzerland, and Ireland rounding out the top three. Only Singapore is ranked higher in the Asia-Pacific area than Taiwan.
