The Heritage Foundation and the Wall Street Journal released the 2006 Index of Economic Freedom today."Once again, Hong Kong ....lead(s) the pack." Singapore follows, and these are the only two Asian countries in the top 10. (For the press release, click here.) Yes, that means Hong Kong enjoys the most economic freedom in the world. China only ranks 111 (and falls in the mostly unfree catagory.) The U.S. shares the #9 spot with Australia and New Zealand.
The authors generally examined data for the period covering the second half of 2004 through the first half of 2005. To the extent possible, the information considered for each factor was current as of June 30, 2005. (See FAQ for how they rated the countries.)
The 2006 Index of Economic Freedom measures countries against a list of 50 independent variables divided into 10 broad factors of economic freedom. Low scores are more desirable. The higher the score on a factor, the greater the level of government interference in the economy and the less economic freedom a country enjoys.
Donald Tsang (Chief Executive, HKSAR) and Edwin J. Feulner (President, The Heritage Foundation)
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