According to the Index of Economic Freedom published by Heritage Foundation in cooperation with The Wall Street Journal on an annual basis, Hong Kong is still the world’s most free economy. This special administrative region of the People's Republic of China has been world leader in economic freedom for the 19th consecutive year.
Hong Kong used to be a British colony, later it was transferred to Chinese rule, but the business conditions still remain unchanged.
Hong Kong's economic freedom scores 89.7 out of 100 points. The ten of leaders includes also Australia, New Zealand, Ireland, Switzerland, Canada, the USA, Denmark and Chile.
Canada overtook the United States as the most economically free country in North America. China scored 51 points; it ranks 140th among 179 countries surveyed. Cuba, Zimbabwe and North Korea are listed last in the Index of Economic Freedom.
According to the index, Georgia is the most economically free nation in Transcaucasia. Armenia ranks 38th. Azerbaijan and Russia regarded as special economic zones are on the 96th and 143rd places, both followed by Ukraine which is rated number 152. Interestingly enough, Equatorial Guinea, Cameroon, Ethiopia, Nigeria and some other African countries left Russia and Ukraine behind.
When rating countries, the experts of Heritage Foundation and The Wall Street Journal pay attention to such factors as trade freedom, investment freedom, financial freedom, government intervention in the economy, freedom from corruption etc.