12 Jan '11, 10am

HK remains world's freest economy

HONG KONG: Hong Kong remained the world's freest place to do business for the 17th year in a row in an annual US league table published Wednesday. The United States lost ground and mainland China came 135th in the table compiled by The Heritage Foundation, a conservative Washington-based think tank, and The Wall Street Journal. Hong Kong, a former British colony which was returned to China in 1997, edged out regional rival Singapore to claim top spot in the 2011 Index of Economic Freedom. After Hong Kong and Singapore, Australia and New Zealand took third and fourth spots respectively. Switzerland, Canada, Ireland, Denmark, the United States and Bahrain rounded out the top 10, which is based on criteria including economic openness, trade, the efficiency of domestic regulators, and the rule of law. Mainland China was ranked 135 in the list of 179 economies, with Cuba, Zimba...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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