The study said the rankings were based on a simple average of 10 factors, including property rights, investment freedom and financial freedoms. Hong Kong placed first in those categories.
But the city didn't do as well as Singapore in labor freedom and in the ease of starting businesses. Hong Kong was also seen as less free from corruption concerns, compared to Singapore.
Hong Kong's Financial Secretary Henry Tang said, "We will study the report carefully and will strive to preserve fervently those strong aspects of our economic freedom."
The report said Singapore will only be able to challenge Hong Kong if it improves its financial freedom.
"(Singapore) has to make significant changes to its financial freedom, as well as ownership control over banks," Feulner said.
Thursday, January 18, 2007
Hong Kong is world's freest economy
Hong Kong is the world's freest economy followed by Singapore and Australia according to a survey by the Heritage Foundation and the Wall Street Journal. From Business Week:
Subscribe to: Post Comments (Atom)
Singapore Haunted: Top 10 Most Haunted Moments Caught On Camera!
A flying ghost at Changi Hospital, a playful tree spirit at Bedok Reservoir and the ghost of a girl who died at the famous Yellow Tower at...
You can watch an almost live webcam (30 secs delay) of the Fukushima Daiichi nuclear plant which suffered major damage from the 9.0 earthqu...
Meet Xu Rong . She's an Assistant Professor at Nanyang Technological University (NTU) and judging from her photos posted on her blog an...
Post a Comment