‘Chinese interference’ a threat to Hong Kong’s ranking as top free market economy, institute says
Fraser Institute of Canada report second in as many days to bring heighten scrutiny of the independence of Hong Kong’s courts
Hong Kong once again ranked as the world’s the freest economy, but a Canadian institute warned its long-held position at the top could be threatened by Beijing’s perceived interference in the city’s affairs that could undermine the rule of law.
The Fraser Institute of Canada ranked Hong Kong first in its Economic Freedom of the World report on Thursday. The report carried an ominous warning, a day after the World Economic Forum downgraded the city’s judicial independence score, heightening scrutiny of the city’s courts.
“While Hong Kong is again the most economically free, there is a valid concern that interference from mainland China will ultimately lead to deterioration in Hong Kong’s top position, particularly in rule of law, which helps ensure equal freedom for all,” said Fred McMahon, Dr. Michael A. Walker Research Chair in Economic Freedom at Fraser Institute.
Hong Kong has held the top position on the institute’s Economic Freedom report since 1980. Singapore continued to rank second, followed by New Zealand. China ranked 112th.
McMahon gave a similar warning last year, saying that Hong Kong’s ranking will drop “if China encroaches on its one country, two systems relationship with Hong Kong”.
