London Daily

Focus on the big picture.
Saturday, Jul 25, 2026

Hong Kong’s Reign as World’s Freest Economy at Risk, Group Warns

Hong Kong’s Reign as World’s Freest Economy at Risk, Group Warns

Hong Kong’s long reign as the world’s freest economy is at risk due to China’s efforts to quell dissent, the Fraser Institute said, undercutting government arguments that the crackdown was improving the business climate.

The Vancouver-based research institution warned in its 2020 Economic Freedom of the World report that the sweeping national security law enacted in June and other measures would hurt Hong Kong’s No. 1 ranking in future surveys.

The former British colony continued its 24-year run atop the latest report, which was based on data from 2018, ahead of Singapore and New Zealand.

“Hong Kong’s rating in this report is unaffected by the 2019 proposal to transfer certain legal cases to the mainland and the protest and sometimes brutal suppression that followed,” the right-leaning think tank said.

“However, it will be surprising if the apparent increase in the insecurity of property rights and the weakening of the rule of law caused by the interventions of the Chinese government in 2019 and 2020 do not result in lower scores.”

Hong Kong’s Chief Executive Carrie Lam has cited the city’s continued high rankings in the Fraser report and similar surveys to counter claims that efforts to crackdown on political unrest were jeopardizing its status as a global financial center.

The security law imposed by China gave the government vast new authority to prosecute subversion, secession, terrorism and collusion with foreign powers, including the ability to transfer cases to mainland courts.

The government dismissed the report’s assertions, saying it remained determined and committed to upholding the rule of law. “It is with regret that Fraser Institute preempts lower future scores in this area with biased comments and unfair speculations based on selective ungrounded views,” the government said in a statement Friday.



The decision to impose the security law without a public hearing or vote was arguably the most dramatic shock to Hong Kong’s political system since it was returned to Chinese rule in 1997. The government has already used the law to outlaw protest slogans and arrest more than 20 activists, including media tycoon Jimmy Lai.

The legislation has prompted the U.S. to roll back special trading privileges granted to Hong Kong while technology companies have accelerated efforts to move sensitive data out of the city. On Thursday, Hong Kong police arrested 15 people on suspicion of manipulating the stock price of Lai’s Next Digital Ltd. during a campaign to support the company after his arrest last month.

Hong Kong slipped to second place in the Heritage Foundation’s 2020 Index of Economic Freedom, due to last year’s political turmoil. The city also tumbled seven spots to 80th place in the Reporters Without Borders’ latest 2020 World Press Freedom Index.

Newsletter

Related Articles

0:00
0:00
Close
War, Youth Revolt and the Global Struggle for Control
War, Power and the Rising Price of Political Decisions
High Street Sales Suffer Sharpest Summer Decline in Five Years
Wales Approves Higher Taxes on Second Homes and Long-Term Empty Properties
Environment Agency Imposes Record £150 Million Penalty on Water Companies
UK Competition Watchdog Blocks U.S. Takeover of Cambridge Chip Designer
Scotland Unveils Land Reform Bill to Expand Renewable Energy Projects
Northern Ireland Secures £500 Million Technology Investment for Belfast Cybersecurity Hub
NHS Rolls Out AI Triage System Across Major Hospitals in England
UK Strengthens North Sea Naval Cooperation With European Allies
UK Chancellor Commits £7 Billion to Accelerate Manchester-Leeds Rail Link
Bank of England Signals Interest Rate Cuts After Inflation Falls Below Target
Badenoch Rejects Grant Shapps' Bid to Return as Conservative Candidate
BAE Chief Warns Britain Has Underestimated the Risk of War
Burnham Rules Out New Scottish Independence Referendum in First Talks With Swinney
UK Government Strengthens Northern Economic Agenda Through Manchester Headquarters and Regional Partnerships
United Kingdom Opens New Furness Peninsula Coastal Route Under King Charles the Third England Coast Path
England Reduces Business Costs for Hospitality Sector Through New Relief Package
United Kingdom Allocates Seven Point Three Million Pounds for Zero-Emission Aviation Research
United Kingdom Begins Restoration Works on Portishead Railway Line After Six Decades Without Passenger Services
United States Tariff Measures Create New Trade Challenges for United Kingdom and European Union Businesses
Prime Minister Andy Burnham Meets Scottish and Welsh Leaders to Promote Regional Growth Cooperation
United Kingdom Government Announces Twenty Percent Business Rates Cut for Pubs, Clubs, and Music Venues
Prime Minister Andy Burnham Opens Manchester Government Headquarters to Shift Decision-Making Away From Westminster
United Kingdom Defence Ministry Says Armed Forces Ready After Iran Accuses London Over US Military Strikes
United Kingdom Inflation Falls to Two Point Six Percent as Prime Minister Andy Burnham Gains Economic Breathing Room
OpenAI Sued After ChatGPT Allegedly Discouraged Emergency Care Before Near-Fatal Embolism
Viral Video Raises Questions Over Twelve-Dollar Croissants at Manhattan Bakery
UK Balances Security Commitments With Economic Growth Priorities
Retail and Hospitality Sectors Navigate Consumer Caution and Tax Changes
Key Trends to Watch
British Land Appoints Joanne McNamara as New Chief Executive Officer
UK Government Names New Life Peers Including Former Military and Civil Service Leaders
Institute of Directors Urges Government Action on Employment Costs and Skills Shortages
IMF Raises UK 2026 Growth Forecast to One Percent
UK Retail Sales Growth Slows Sharply as Households Cut Discretionary Spending
UK Ten-Year Bond Yields Remain Above Five Percent as Government Faces Higher Debt Costs
UK Government Plans Earlier End to Low-Value Import Duty Exemption for Online Retail Parcels
Reform UK Leads Tight Westminster Voting Poll as Conservatives and Labour Remain Close
Royal Navy Carrier Strike Group Completes First Arctic and North Atlantic Mission Phase
Andy Burnham Government Cuts Business Rates for Pubs and Music Venues by Twenty Percent
UK Inflation Falls to Two Point Six Percent in June as Food and Fuel Prices Ease
Andy Burnham Becomes UK Prime Minister Facing Growth Challenges and Fiscal Pressure
UK Government Reviews Long-Term Balance Between Cost Relief, Industry Support, and Public Investment Priorities
BBC Could Receive Permanent Royal Charter Under Government Proposal
Northern Ireland Proposes End to Severe Weather Exemptions for Electricity Compensation Rules
Andy Burnham Holds Talks With UK Devolved Leaders on Regional Cooperation and Devolution
House of Lords Launches Inquiry Into Risks Facing UK Democratic Institutions
ScottishPower Renewables Plans Major Rebuild of Whitelee Wind Farm With Fewer Larger Turbines
UK and Italy Leaders Discuss Global Combat Air Programme and Future European Cooperation
×