Image via WikipediaCoffetoday Nov 15 , 2010 – When the Freedom House and many other institutions measure the level of political freedom in society, Fraser Institute of Canada would see the other side, namely the level of economic freedom. Its size is freedom to engage in economic activities, maintain property obtained legally, and enjoy equal opportunity without any interference. In the annual report Economic Freedom of the World 2010, which was released recently mentioned, an indication of the kind of freedom that is the overall expenditure of government agencies, the legal structure of a country and the protection of property rights.In addition, there is access to a healthy supply of money, freedom to trade in international forums, and limited yet effective rules to credit, employment and business practices. “Indicators that continually monitored and updated in the annual report of the Economic Freedom World,” wrote the publication of the annual report. When referring Economic Freedom of the World Index or the EFW index that measures economic freedom more than 100 countries around the world, how a score of Indonesia than India and China, two giant economies in Asia? Based on data from EFW Index 1980, Indonesia had outperformed China, but lost to India. Scores of Indonesia in 1980 was 5.20, while China and India 3.99 higher at 5.39.
However, in 2008, in a measure of economic freedom, China was able bolted tight and left India and Indonesia. The score for China in this period reached 6.65, India 6.51, while Indonesia 6.44. Starting from very low levels, China developed its economy with impressive freedom. This Bamboo Curtain country continues to improve its economic freedom measure almost every year. Meanwhile, India developed a level of economic freedom with a lower speed. Even it was back in 2005. What about Indonesia? Although the youngest score more than China and India, the growth of Indonesia’s economic freedom is better than India. That’s because the economic crisis of 1997-1998, the development in Indonesia was not as fast as China.
However, the level of economic freedom in Indonesia continues to grow and encourage the optimistic outlook in the country. In fact, if the government supports in its development, according to the annual report of the World Economic Freedom, Indonesia may take over the growth of economic freedom in India, Russia, South Africa, and China.
Source: www.coffetoday.com
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