|
|
|
|
| 1. |
hong kong
90.3% free. the special administrative region (sar) of hong kong is part of the people's republic of china but retains a separate political governance structure and economic system. chief executive donald tsang has pledged to advance universal suffrage, a promise made in the territory's mini-constitution, the basic law. a british colony for more than 150 years until the 1997 transfer of sovereignty to china, hong kong retains its rule of law, simple procedures for enterprises, free entry of foreign capital, repatriation of earnings, and financial transparency. it is a major gateway for business with china. major industries include financial services, shipping, and other services. manufacturing has largely migrated to mainland china.
|
|
| 2. |
singapore
87.4% free. singapore, a city-state of 4.5 million, is the most well developed, prosperous country in southeast asia. while nominally a democracy, the island nation has been ruled by the people's action party since gaining its independence from malaysia in 1965. singapore boasts the freest economy in southeast asia, with a well-earned reputation for efficient administration and clean governance. while the service sector dominates the economy, the country is also a major manufacturer of electronics and chemicals. the most heavily trade-reliant country in the world, singapore has led the global trend toward bilateral and multilateral free trade agreements.
|
|
| 3. |
ireland
82.4% free. ireland's modern, highly industrialized economy performed well throughout the 1990s and has enjoyed sustained growth, earning ireland a reputation as the "celtic tiger." the country has one of the world's most business-friendly environments, especially for investment, and enjoys the european union's second-highest gdp per capita. in january 2003, the government lowered the corporate tax rate to 12.5 percent—far below the eu average. because of its pro-business government policies, ireland receives a substantial portion of u.s. investment directed at the eu. however, it also is struggling with an underperforming health sector, and the provision of decent public services remains a major topic of political debate.
|
|
| 4. |
australia
82% free. australia, one of the asia-pacific region's richest democracies, has been governed by the conservative liberal party for 11 years. in the 1980s, the labor hawke and keating governments deregulated financial and labor markets and reduced trade barriers. although these changes transformed the country into an internationally competitive producer of services, technologies, and high-value-added manufactured goods, its export sector remains heavily dependent on mining and agriculture. australia is in its 16th year of uninterrupted economic expansion, with unemployment at 32-year lows. the howard government's policy agenda has been dominated in recent years by efforts to reform taxation, labor markets, and higher education.
|
|
| 5. |
united states
80.6% free. the united states is the world's dominant economy. with over two centuries of a fundamentally free, constitutionally protected economy, america benefits from its massive scale and intrastate competition. trade barriers among the 50 states are unconstitutional, for example, allowing for the free movement of goods and labor. however, there have been troubling developments in recent years. property rights have been threatened by the supreme court's 2005 ruling in kelo v. city of new london. congress has been active in raising the minimum wage, which has harmed labor freedom, but inactive in lowering corporate tax rates, unlike most other advanced economies. most alarming, america's major political parties have been unwilling to curb growing government expenditures, particularl
|
|
| 6. |
new zealand
80.2% free. new zealand is one of asia's richest democracies. following two decades of sound economic policies and structural reforms, it has transformed itself into a modern, flexible economy with one of the lowest unemployment rates of any member of the organisation for economic co-operation and development. its export market is dominated by agricultural commodities. new zealand relies heavily on international trade, and its openness has helped to boost exports of goods and services. securing bilateral and regional free trade agreements is one of the government's major foreign policy goals, along with diversification of the economy into industrial goods.
|
|
| 7. |
canada
80.2% free. one of the world's leading free-market democracies, canada enjoys a large trade surplus, thanks to oil and mineral exports. because of its bilateral trade relationship with the united states, its economy tends to track that of its larger southern neighbor. a protracted dispute with the united states over softwood lumber was settled in 2005. despite one of the oecd's most restrictive foreign ownership policies in telecommunications, publishing, broadcasting, aviation, mining, and fishing, macroeconomic fundamentals remain strong, and unemployment is at a 30-year low.
|
|
| 8. |
chile
79.8% free. chile is the world's leading producer of copper. the export sector (e.g., minerals, wood, fruit, seafood, and wine) is the main engine of growth. chile has pursued generally sound economic policies for nearly three decades. higher energy prices and lagging consumer demand, however, slowed the economy in 2006. the coalition government of president michele bachelet, who is a socialist, remains largely committed to chile's successful free-market institutions, though her rhetoric emphasizes income equality over freedom. chile is a member of the asia–pacific economic cooperation forum and seeks increased commercial ties with asia. in addition to an important free trade agreement with the u.s., it has signed trade agreements with china, south korea, new zealand, singapore, brunei,
|
|
| 9. |
switzerland
79.7% free. switzerland, one of the world’s richest and most investment-friendly destinations, is a member of the world trade organization, the international monetary fund, the world bank, and the organisation for economic co-operation and development. it is not a member of the european union, even though it is at the geographical heart of europe, and two referenda on eu membership have failed. switzerland remains one of the world’s most competitive economies and has particularly strong financial and banking sectors. protectionism exists, particularly in agriculture.
|
|
| 10. |
united kingdom
79.5% free. since the market reforms instituted by prime minister margaret thatcher in the 1980s, the united kingdom has experienced steady economic growth and has outpaced other large eu economies. under the labour governments of tony blair, britain promoted an open, global economic outlook and made stability a priority. the bank of england's independence contributes much to macroeconomic stability. the city of london remains one of the world's leading centers of commerce and should continue to grow. the u.k. is now the world's top destination for foreign direct investment. as with most other western european countries, britain faces demographic challenges. reform of public services, especially the national health service, is necessary but politically very sensitive.
|
|
|
|
|
| * All non-members count as one vote |
|
| Comments: |
Login to comment! |
|
|
|