Hong Kong has reclaimed its position as the world’s freest economy, overtaking Singapore, according to a recent report from the Canadian think tank, Fraser Institute. Hong Kong earned a score of 8.
58, narrowly surpassing Singapore’s 8.55, in the Fraser Institute’s latest Economic Freedom of the World report for 2022.
The results follow a recent survey showing Hong Kong regained its position as Asia’s top financial centre, offering a boost to John Lee, Hong Kong’s leader, in his efforts to improve the city’s global image as an international hub. However, the Fraser Institute pointed out that Hong Kong’s score has been declining for years and warned that China’s interference poses a risk to its rule of law.
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