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Taiwan ranks 4th in economic freedom index
Taiwan has been ranked fourth best in the world in the 2023 Index of Economic Freedom. According to the Heritage Foundation, Taiwan's economic freedom score stands at 80.7 - and that score is 0.6 points higher than last year. Taiwan's economy is ranked 2nd out of 39 economies in the Asia Pacific region.
The report says that Taiwan's economy is rated "Free" in the index - based on a strong commitment to the rule of law and openness to global commerce have enabled it to become a global leader in economic freedom.
It goes on to say that Taiwan's dynamic economy has benefited from a well-developed institutional framework, a tradition of private-sector entrepreneurial dynamism, and open-market policies that facilitate the free flow of goods and capital.
The index covers 12 financial freedoms in 184 countries.
