If there’s one freedom Hong Kong has, it’s the freedom to capitalise on capitalism.
The Heritage Foundation, a conservative American think thank based in Washington, DC, gave Hong Kong an overall score of 89.6 in this year’s Index of Economic Freedom, putting our city in the top spot for the 21st year in a row
The score is based on several components under the categories of “rule of law”, “regulatory efficiency”, “open markets”, and – this is where the foundation’s conservativeness shines through – “limited government”.
Despite the Hong Kong government’s constant whining about the threat that the Umbrella Movement posed to the rule of law, our city’s worst score was in “freedom from corruption” – under the “rule of law” category.
LOL. We can barely handle the irony.
Our score dropped 0.5 points from last year, “reflecting a higher level of perceived corruption that outweighs small improvements in business freedom, labor freedom, and fiscal freedom,” according to the foundation.
They continued to explain that economic decision-making by the government has become “somewhat more bureaucratic and politicized” and that its administrative scope has broadened, while the recent unrests “have undermined public trust and confidence”.
Despite this dis, the Hong Kong government welcomed the ranking and acknowledged that the “perceived” level of corruption has increased.
It attributed this to “some prominent cases” in recent years, but said they were isolated and that corruption levels remain low.
Singapore came in at a very close second, and with their score unchanged compared to last year, they’re only 0.2 points behind us.
That means if things continue this way in Hong Kong, Singapore is on its way to finally beating us for the number-one spot – and all it has to do is sit tight and continue on as normal.
Photo: Alex Hotz/Coconuts Media
