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Hong Kong is world's freest economy, Singapore No. 2 |
Friday, 19 January 2007—HONG KONG: A survey said Hong Kong was the world's freest economy for the 13th straight year, and Singapore was ranked No. 2 in the study released yesterday by the Heritage Foundation and the Wall Street Journal. The next top spots were held by Australia, the United States and New Zealand, respectively, said the survey, which included 157 economies.
Two of the world's fastest-growing economies, India and China, ranked near the bottom of the index at 104th and 119th, the study said.
China was hobbled by a lack of investment freedom, weak financial institutions and a poor judicial system that didn't properly protect property rights, said Edwin J. Feulner, president of the Washington-based Heritage Foundation, a conservative think tank. Although Hong Kong is a Chinese territory, it was ranked separately from China. http://www.kuwaittimes.net/business.asp?dismode=article&artid=2089998243 |
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