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| Hong Kong Tops Economic Freedom Index | |||||||||||||||||
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| Date | 2010-01-22 15:52:00 | ||||||||||||||||
| Media | Jakarta Globe | ||||||||||||||||
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| Summary | Hong Kong remains the world`s freest place to do business while the United States has lost its claim to an unrestricted economy, according to an annual report published on Wednesday. | ||||||||||||||||
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| Issues | Global Economy Updates | ||||||||||||||||
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| Hong Kong remains the world`s freest place to do business while the United States has lost its claim to an unrestricted economy, according to an annual report published on Wednesday. Hong Kong. a former British colony that was returned to China in 1997, edged out rival Singapore to claim top spot for the 16th consecutive year in the 2010 Index of Economic Freedom. Australia and New Zealand grabbed third and fourth spot, respectively. The report is compiled by The Heritage Foundation, a conservative Washington-based research organization, and The Wall Street Journal. Ireland, Switzerland, Canada, the United States. Denmark and Chile rounded out the top 10. The list is based on several criteria, including economic openness, trade, the efficiency of domestic regulators and the rule of law. But Canada pushed the United States from the top seven economies deemed to have an entirety free economy due to "notable decreases in financial freedom, monetary freedom and property rights," the report said. "The US government`s interventionist responses to the financial and economic crisis that began in 2008 have significantly undermined economic freedom and long-term prospects for economic growth." Mainland China was ranked 140 in the list of 183 countries, with Cuba. Zimbabwe and North Korea rounding out the bottom of the list. AFP | |||||||||||||||||
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Hong Kong Tops Economic Freedom Index
02:08 | Labels: Economy |
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