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|Subject: World's 38th Freest Economy Fri Sep 16, 2011 10:41 am|| |
A survey conducted by Canada-based Fraser Institute (FI) has tagged the Philippines, along with six other countries, as the world's 38th "freest economy", a term referring to the country's practice of free trade. The 2002 "Economic Freedom of the World" (EFW) survey gauged 123 countries' level of economic freedom or liberties enjoyed by foreigners and citizens to engage in trade or business. Among the factors measured were each country's observance of free trade, rule of law, property rights, freedom to trade and access to sound money.
The Philippines was ranked at 38th along with France, South Korea, Botswana and two other countries. On top of the list were Hong Kong, Singapore and the United States in that order.