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According to Economic Freedom Network, individuals have economic freedom when “property they acquire without the use of force, fraud, or theft is protected from physical invasions by others and they are free to use, exchange, or give property as long as their actions do not violate the identical rights of others.”
On that basis, freer economies are known to have higher incomes, longer life expectancies, lower infant mortality rates, greater literacy, and more civil and political liberties – factors that directly affect standards of living.
How much economic freedom exists in your country?
State-owned banks have long dominated banking in China, but China wants to do things differently now. The Chinese government wants improve its financial sector by creating more confidence and responsiveness towards private customers. Lately, China has seen a lot of changes in its banking system, which could see some big changes in Chinese banking sector in 2015. Read more
Stephen S. Roach,
Mario Blejer & Eduardo Levy Yeyati,
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