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Hong Kong tumbles down IMD world competitiveness ranking

Singapore still the world's most business-friendly economy

SINGAPORE -- Battered by violent anti-government protests, Hong Kong has tumbled down a list of the world's most competitive economies, amid growing fears over Beijing's efforts to rein in the semi-autonomous territory.

Hong Kong dropped from second to fifth place in the "World Competitiveness Ranking 2020" released Tuesday by Swiss business school IMD. It was overtaken by Denmark, Switzerland and the Netherlands.

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