February 17, 2017 09:17
South Korea rose in the global rankings of economic freedom, according to a report by a U.S. think tank.
The country now ranks 23rd among the 180 nations in Heritage Foundation's Index of Economic Freedom, up four notches from last year. But the report warned the South Korean economy, while relatively stable and open to global trade, is at a crossroads as its ongoing political turmoil had made economic structural reform all the more necessary.
Hong Kong was ranked the freest economy. It was followed by Singapore, New Zealand, Switzerland, and Australia. The U.S. was 11th, its lowest-ever rank. North Korea remained rock bottom for the second straight year.
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