Taiwan ranks fourth in the latest Index of Economic Freedom released by the US Heritage Foundation, which foundation president Kevin Roberts delivered personally to President Tsai Ing-wen (蔡英文) and Vice President William Lai (賴清德) yesterday while reaffirming Washington’s support for the nation’s security.
This year’s index graded 184 nations based on their economic policies and conditions from July 1, 2022, through June 30 last year, the foundation said.
Economic freedom is assessed based on 12 factors in four broad pillars — rule of law, government size, regulatory efficiency and open markets — each on a scale of 0 to 100.
Photo: CNA
The overall world economy was “mostly unfree,” with the global average score for economic freedom falling to 58.6 from the previous report’s 59.3, the lowest it has been since 2001.
With a score of 80, Taiwan was among only four nations scoring above 80 to be marked as “free” in the index along with Singapore, Switzerland and Ireland.
Taiwan maintained its ranking of fourth in the world and second among 39 Asia-Pacific economies from the previous report, but its score decreased by 0.7 points.
Taiwan is an “exemplary free-market democracy” and has a “strong commitment to the rule of law and openness to global commerce,” the report said.
Small and medium-sized enterprises are the backbone of Taiwan’s economic growth and resilience, it said, adding that “monetary stability has been well maintained despite inflationary pressure.”
Relatively low scores were given to “labor freedom” and “financial freedom,” but the report did not provide negative comments regarding those indicators.
Roberts congratulated Taiwan on the ranking, praising the nation as “one of the shining lights of the world” when he led a delegation to meet with Tsai at the Presidential Office in Taipei yesterday.
He also thanked Tsai for “maintaining the status quo of peace” with courage, and vowed to preserve that peace after she leaves office in May to honor her service.
Tsai is beloved by Taiwanese and the foundation, and would “remain beloved by free people across the world,” he said.
Tsai thanked the foundation for its long-term support for Taiwan-US relations, and its efforts to promote economic, trade and security cooperation between the two sides.
Expanding cooperation with the US, an important security and trade partner of Taiwan, not only serves the interests of both sides, but would also help ensure the security and stability of the global supply chain, she said.
Earlier yesterday, Roberts’ delegation met with Lai to offer its congratulations on him winning the presidential election last month.
Taiwan has friends in the foundation and across the US who understand and support the nation’s freedom and security, Roberts said, adding :“You can count on us.”
Lai solicited the foundation’s continued support for the nation as it is still facing many challenges, including direct threats from China, climate change, global digitization and global supply chain restructuring.
He pledged to continue firmly defending the cross-strait “status quo” and to contribute to peace in the international community.
AIR SUPPORT: The Ministry of National Defense thanked the US for the delivery, adding that it was an indicator of the White House’s commitment to the Taiwan Relations Act Deputy Minister of National Defense Po Horng-huei (柏鴻輝) and Representative to the US Alexander Yui on Friday attended a delivery ceremony for the first of Taiwan’s long-awaited 66 F-16C/D Block 70 jets at a Lockheed Martin Corp factory in Greenville, South Carolina. “We are so proud to be the global home of the F-16 and to support Taiwan’s air defense capabilities,” US Representative William Timmons wrote on X, alongside a photograph of Taiwanese and US officials at the event. The F-16C/D Block 70 jets Taiwan ordered have the same capabilities as aircraft that had been upgraded to F-16Vs. The batch of Lockheed Martin
US President Donald Trump yesterday announced sweeping "reciprocal tariffs" on US trading partners, including a 32 percent tax on goods from Taiwan that is set to take effect on Wednesday. At a Rose Garden event, Trump declared a 10 percent baseline tax on imports from all countries, with the White House saying it would take effect on Saturday. Countries with larger trade surpluses with the US would face higher duties beginning on Wednesday, including Taiwan (32 percent), China (34 percent), Japan (24 percent), South Korea (25 percent), Vietnam (46 percent) and Thailand (36 percent). Canada and Mexico, the two largest US trading
GRIDLOCK: The National Fire Agency’s Special Search and Rescue team is on standby to travel to the countries to help out with the rescue effort A powerful earthquake rocked Myanmar and neighboring Thailand yesterday, killing at least three people in Bangkok and burying dozens when a high-rise building under construction collapsed. Footage shared on social media from Myanmar’s second-largest city showed widespread destruction, raising fears that many were trapped under the rubble or killed. The magnitude 7.7 earthquake, with an epicenter near Mandalay in Myanmar, struck at midday and was followed by a strong magnitude 6.4 aftershock. The extent of death, injury and destruction — especially in Myanmar, which is embroiled in a civil war and where information is tightly controlled at the best of times —
China's military today said it began joint army, navy and rocket force exercises around Taiwan to "serve as a stern warning and powerful deterrent against Taiwanese independence," calling President William Lai (賴清德) a "parasite." The exercises come after Lai called Beijing a "foreign hostile force" last month. More than 10 Chinese military ships approached close to Taiwan's 24 nautical mile (44.4km) contiguous zone this morning and Taiwan sent its own warships to respond, two senior Taiwanese officials said. Taiwan has not yet detected any live fire by the Chinese military so far, one of the officials said. The drills took place after US Secretary
RSS