Singapore is now the world's freest economy, displacing Hong Kong after 53 years

Singapore has dethroned Hong Kong to become the world's freest economy, according to a report released by Canadian think tank Fraser Institute.

Some of the tenets used to gauge economic freedom index are measured based on ease of international trade, freedom to enter and compete in markets, as well as business regulations, amongst other yardsticks.

Source: Financial Digest (financialdigest.net)

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