Monday, August 22, 2005

2005 Index of Economic Freedom

Index of Economic Freedom

The Heritage Foundation and the Wall Street Journal publish every year their Index of Economic Freedom. Most free is Hong Kong, and least free is North Korea. Belgium is 21th, and according to the report:

"Belgium has one of Western Europe’s most punishing tax systems and one of the world’s highest total tax burdens. Its social transfer system remains one of the world’s most extensive and expensive; on average, one working-age adult supports slightly more than one benefit recipient."

The Index (link via title) offers a very clear overview of the countries of the world. China is only ranked 112th, which means China still has an amazing potential for development, given it does the right reforms. The same goes for India (118th), Russia (124th) and Brazil (90th).

The United States are said to be "at a crossroads: It will either continue to be a leader in economic freedom or idly watch other countries pass it by."

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