Singapore unseats Hong Kong

HONG KONG - the historic trading mecca of the Far East - has begun to lose its glitter, as its position as main entrepot for mainland China begins to be eroded as the doors to this formerly enclosed market giant swing back on their hinges.
For the first time, it has lost its status as the best location in Asia for doing business to Singapore, according to the latest Economist Intelligence Unit (EIU) business environment rankings report.
Hong Kong is now in 11th place (previously fifth) in the EIU's 60-country global league. It is now two places down on its fellow-island trading port of Singapore which also moved down - but from seventh to ninth.