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Singapore Loses to Hong Kong in Race for Most Competitive

Stricter rules on foreign labor may explain Singapore's slide
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Hong Kong Tops Singapore in Most Competitive Race

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Singapore and Hong Kong have been vying for years to hold the crown of most competitive place to do business. Now a clear winner is emerging: Hong Kong.

While Hong Kong is rising on world rankings for competitiveness, Singapore is sliding. The latest results from IMD, a Swiss business school, put Hong Kong at the top of the list, knocking the U.S. off the No. 1 spot. Singapore has dropped from third to fourth place.