Coming in at No. 3 was Switzerland, followed by New Zealand and the US. At 165th place, Venezuela ranked last with a score of 3.02.
The findings come weeks after a survey found that Hong Kong regained its spot as Asia’s top financial centre. Combined, they are a boon for John Lee, Hong Kong’s leader, who’s been seeking to reverse the image of an international hub in decline. But the Fraser Institute said that Hong Kong’s score has been falling for years, and warned that interference from China threatens Hong Kong’s rule of law.
Globally, economic freedom declined for a third straight year after more than a decade of gains, according to the researcher, which has been releasing the rankings since 1970.
The Hong Kong government welcomed the results and defended its rule of law.
