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Part IV Economic Freedom Rankings Analysis
[Student’s Full Name]
In this essay, we shall analyze the countries previously assessed in the part III. The countries are Canada; China; France; Germany; Japan; the Russian Federation; the United Kingdom, and the United States. All the figures used in this essay were retrieved from the 2015 Index of Economic Freedom. We shall list the countries according to their overall Economic Freedom Ranking (EFR). And then, we shall proceed to analyze our findings.
Canada #6 in the EFR
The United States #12 in the EFR
The United Kingdom #13 in the EFR
Germany #16 in the EFR
Japan #20 in the EFR
France #70 in the EFR
China #139 in the EFR
The Russian Federation. #143 in the EFR
Source: (Economic Freedom Ranking, 2015)
Our analysis shows that the North American countries in the list are listed as more economically open than their counterparts in Europe. In this case, the GDP has nothing to do, because a country such as France, with a developed economy, is perceived as stricter in their economic Freedom than Japan, a country with a smaller per capita GDP. We can only think that this disparities concerning economic freedom have to be with the political sphere. For instance, countries such as Russia and China are in the bottom of the list. We can only think that this is caused by the remnants of the communist economic policies that demand a protectionist economy, away from the free market policies. Nevertheless, having said that, it is important to note how China has been economically opening to the West in order to be part of the World Market, and fairly compete with the biggest economies in the World.
Country Rankings. (2015). Retrieved June 9, 2015, from http://www.heritage.org/index/ranking