Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

Current Affairs

Topic

National: 2023

Question:

According to The Economic Freedom of the World Index 2023 (based on 2021 data), which has been tracking economic freedom since 1970, which of the following countries was found to be the world's freer economy?

Options:

Taiwan

Japan

Singapore

Hongkong

Correct Answer:

Singapore

Explanation:

Singapore has surpassed Hong Kong to claim the title of the world’s freest economy, marking the end of Hong Kong’s 53-year reign at the top. This shift is according to a report released by the Canadian think tank Fraser Institute. The Economic Freedom of the World Index 2023 (which is based on data of 2021), which has been tracking economic freedom since 1970, placed Hong Kong in second place for the first time