As a gateway to the cheap materials and labour in mainland China, Hong Kong has acted as a buffer between the tricky politics of China and the rest of the world. Despite its strong Cantonese flavour, the impact of British colonialism has left a legacy of ‘East meets West’ that still lingers within Hong Kong’s culture.
China, coming in fifth, is rated highly because of it’s “never ending need for mineral exports” – of which Australia has plenty.
The Business Review is not the only publication knocking out “best of 2012” lists (ours are coming soon!). Just last week, Forbes rated Shanghai as the best Chinese city for business.
However, outside of China, New Zealand topped their world rankings:
Thanks to a transparent and stable business climate that encourages entrepreneurship. New Zealand is the smallest economy in our top 10 at $US162 billion, but it ranks first in four of the 11 metrics we examined, including personal freedom and investor protection, as well as a lack of red tape and corruption.
In that list, Hong Kong came third, and China missed out completely.