The 2007 annual Economic Freedom of the World Report released Thursday by the Cato Institute, a U.S. think tank based in Washington, D.C announced the top 5 freest economies in the world.

The degree of economic freedom in five broad areas was measured —

1. size of government,

2. legal structure and security of property rights,

3. access to sound money,

4. freedom to trade internationally,

5. regulation of credit, labor and business.

The report released in conjunction with Canada's Fraser Institute and the Economic Freedom Network, a group of independent research and educational institutes in over 70 nations chose.

5. United States, Canada and Britain (tied)

4. Switzerland

3. New Zealand

2. Singapore

For the 11th year in a row….

1. Hong Kong

Want to do business on a level playing field? Hong Kong.

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