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Hong Kong Tops Economic Freedom Rankings Despite Decline

9/26/2025

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Summary

Story summary

The Fraser Institute's 2023 Economic Freedom of the World report ranks 165 countries, naming Hong Kong first despite a score decline since 2018.
The United States ranks 5th, while Canada falls to 11th from 8th due to higher government spending and taxes.
In 2023, top-quartile nations averaged $66,434 per capita GDP versus bottom-quartile $10,751, with poverty at 2% vs 52%.

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Story summary

The Fraser Institute's 2023 Economic Freedom of the World report ranks 165 countries, naming Hong Kong first despite a score decline since 2018.
The United States ranks 5th, while Canada falls to 11th from 8th due to higher government spending and taxes.
In 2023, top-quartile nations averaged $66,434 per capita GDP versus bottom-quartile $10,751, with poverty at 2% vs 52%.