STILL WORK TO DO:In Taiwan, connections remain between politics and big business, and corruption is still a problem, the ‘Index of Economic Freedom’ said
Date: Jan 31, 2016
By: William Lowther / Staff reporter in WASHINGTON Staff reporter in WASHINGTON
Taiwan has achieved its highest-ever score in the annual Index of Economic Freedom released on Friday, remaining the 14th-freest economy in the world, the same position it occupied in the previous year’s ranking.
The nation is ranked fifth out of 42 economies in the Asia-Pacific region and has improved over the past year in seven of the 10 categories measured by the index.
“Despite progress, however, a relatively high level of perceived corruption and a rigid labor market still restrain Taiwan’s overall economic freedom,” the report said.
Published and compiled by the Heritage Foundation and the Wall Street Journal, the report has attracted global attention for more than 20 years.
The global average score for economic freedom is 60.4 out of 100, with Taiwan scoring above that figure with 75.1. [FULL STORY][