Singapore replaces Hong Kong as world's freest economy

Bias in Chinese legal system cited as reason for former British colony's fall

2023-09-19 HONGKONG-ECONOMY-GDP.JPG

Hong Kong was ranked the world's freest economy for over two decades, a position it has now lost to Singapore.  © Reuters

PAK YIU, Nikkei staff writer

HONG KONG -- Hong Kong has lost its position as the world's freest economy to Singapore, according to an index compiled by Montreal-based Fraser Institute, which attributed the fall largely to the erosion of impartiality in the Chinese city's legal system and judiciary.

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