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Hong Kong tops list of freest economies, India 73rd
Washington, July 09: Hong Kong, in an uproar over plans for new anti-subversion laws, still tops the 2003 list of the world`s freest economies, according to a study released here.
Washington, July 09: Hong Kong, in an uproar over plans for new anti-subversion laws, still tops the 2003 list of the world's freest economies, according to a study released
here.
The former British colony was followed by Singapore in second place and the united states in third place in the seventh annual economic freedom of the world report.
India is 73rd on the list.
Hong Kong has been in first place in each report since the Index of Economic Freedom was first published in 1996. At the bottom of the list of 123 countries was Myanmar, according to the report published yesterday by the conservative Cato Institute, Canada's Fraser Institute and more than 50 other institutes.
"The research is unambiguous that freeing people economically unleashes individual drive and initiative and puts a nation on the road to economic growth," Nobel laureate Milton Friedman said in a statement accompanying the report. "By freeing people from government dependence and creating prosperity, economic freedom also helps establish other freedoms and democracy," he said.
The other countries in the top 10 were New Zealand and Britain, sharing the number-four spot, followed by Canada at six; Australia, Ireland and Switzerland tied at seven; with The Netherlands at 10.
Among major economies, Japan came in at 26, Germany at 20, Italy at 35, France at 44, Mexico at 69, China at 100, India at 73, Brazil at 82 and Russia at 112, the report said.
Most of the lower-ranking countries were African, Latin American or former Communist states. Bureau Report
India is 73rd on the list.
Hong Kong has been in first place in each report since the Index of Economic Freedom was first published in 1996. At the bottom of the list of 123 countries was Myanmar, according to the report published yesterday by the conservative Cato Institute, Canada's Fraser Institute and more than 50 other institutes.
"The research is unambiguous that freeing people economically unleashes individual drive and initiative and puts a nation on the road to economic growth," Nobel laureate Milton Friedman said in a statement accompanying the report. "By freeing people from government dependence and creating prosperity, economic freedom also helps establish other freedoms and democracy," he said.
The other countries in the top 10 were New Zealand and Britain, sharing the number-four spot, followed by Canada at six; Australia, Ireland and Switzerland tied at seven; with The Netherlands at 10.
Among major economies, Japan came in at 26, Germany at 20, Italy at 35, France at 44, Mexico at 69, China at 100, India at 73, Brazil at 82 and Russia at 112, the report said.
Most of the lower-ranking countries were African, Latin American or former Communist states. Bureau Report