Hong Kong has been overtaken by Singapore as the world’s freest economy, according to the most up-to-date report from Montreal-primarily based Fraser Institute. The report, titled “Economic Freedom of the Globe,” has ranked Hong Kong at the major for far more than 20 years. Nevertheless, the 2023 edition of the report reveals a decline in Hong Kong’s all round score by .07 points. The decline is mostly attributed to a reduce in judicial independence, impartial courts, and legal integrity, along with an improve in military interference. The information utilised for this report was collected in 2021.