Hong Kong named world's freest economy
Associated Press
Jan 13, 2009
Hong Kong has been named the world's freest economy for the 15th year in a row, according to an annual report released Tuesday by the conservative Heritage Foundation and the Wall Street Journal that warns against government intervention amid the global economic crisis.
The Chinese territory, known for its low taxes and looser regulations, was followed by Singapore, Australia, Ireland and New Zealand, according to this year's Index of Economic Freedom.
European countries again accounted for half of the top 20 economies considered free or mostly free, with Switzerland at No. 9 and the U.K. at No. 10.
However, the U.S. slid one notch to sixth place, dinged for increased government spending and tax revenue as a percentage of gross domestic product, one of the survey's authors said.
...
Full Story:
http://news.yahoo.com/s/ap/20090113/...omic_freedom_1__________________
