Hong Kong ranks No 2 in global competitiveness with best showing in 7 years

Hong Kong has ranked as the second-most globally competitive economy – its best performance in seven years – climbing one spot from last year to place behind Singapore. The ranking, released by the Switzerland-based International Institute for Management Development (IMD) on Thursday, put the city ahead of 68 other economies out of 70 surveyed. Hong Kong’s position was surpassed only by Singapore, but the city was ahead of Switzerland and Taiwan. The IMD noted Hong Kong’s ris