Why Singapore became an economic success
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When it started life as an independent, separate country in 1965, Singapore’s prospects did not look good. Tiny and underdeveloped, it had no natural resources and a population of relatively recent immigrants with little shared history. The country’s first prime minister, the late Lee Kuan Yew is credited with transforming it. He called one volume of his memoirs, “From Third World to First”. Why did Singapore become an economic success? First, its strategic location and natural harbour helped. It is at the mouth of the Malacca Strait, through which perhaps 40% of world maritime trade passes. It was an important trading post in the 14th century, and again from the 19th, when British diplomat Sir Stamford Raffles founded the modern city. Now it is at the heart of one of the world’s most dynamic regions. Under Mr Lee, Singapore made the most of these advantages. Second, under Mr Lee, Singapore welcomed foreign trade and investment. Multinationals found Singapore a natural hub and were encouraged to expand and prosper. Third, the government was kept small, efficient and honest—qualities absent in most of Singapore’s neighbours. It regularly tops surveys for the ease of doing business. But the island city is not ideal. Although clean and orderly, it has harsh judicial punishments, a tame press and illiberal social policies. Homosexual acts, for example, remain illegal. Protest demonstrations are rarely permitted. Mr Lee saw his authoritarian style of government as an essential ingredient in Singapore’s success, emphasizing the island’s vulnerability in a potentially hostile neighbourhood. But younger people now question whether Singapore really is that fragile, and resent the restrictions on their freedom.
Comments
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why China is becoming an economic success ?
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I don't really fancy capitalism that much but Lee Kuan Yew did a really great job with it (except for the part when he disregarded socialist views cuz I quite lean toward being a socialist especially for my country and I think a little bit of protectionism wouldn't have jeopardized their economic prosperity)
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I have a question what is the population of singapore when lee was the head?
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Fastest way to economic success, have hivemind worker cogs, limited in individual creative output, but if you have enough population, stat works itself out more or less. Slow way to economic success, is to take both the success of individuals and the group into consideration, not something that's encouraged in our ever increasingly competitive world. You'll lag behind for sure, but it gives more significance to the thought that maybe efficiency isn't all that is to life. The diversity of life as a whole has much more to marvel at than the little areas of expertise that they told you to focus on in order to avoid lagging behind others. A good perspective on the self and group will help you getting toward a mindset that would appreciate smelling the flowers more.
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I got the answer : Free Market
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coucou
J'aime l'anglais, abonnez vous -
Of course Singapore very success, many foreign corrupt official put money there. even china. even off shore account.
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What the Economist did not say: It's No. 2 most free economy of the world, early and successful suppression of socialism, common law tradition, hard-working Chinese majority, homosexuality ban is not enforced, people are openly gay. Quite typical bias.....
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i would rather work in singapore,than USA
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Well Panama is also strategically located on a heavy shipping route. However, it is a poor country.
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curruption pm singapore 1 of 3
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fucking economic singapore 😡😡😡
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Please recomend me one book about singapore succes??
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One way to earn foreign income. Low corporate tax.
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There is no prosperity in Communist & Socialist economies or advancement, China and India are proof of true "Income Equality" Countries that were piss poor and under developed due to their communists economies before they became Capitalists and Prospered, even the Lefts beloved Sweden relies on Capitalism to pay for all their free stuff. Wealth redistribution schemes hinder economies, the only services any government needs are the Fire Department, Police Department, Education, Infrastructure & the Military, everything else is excess and puts economies in unnecessary debt and financial holes.
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i miss singapore :( and malaysia too.(prefer singapore still)
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Here comes the myth of a small government in Singapore. As if Temasek Holdings and GIC Private Limited didn't exist and 80% of the population didn't live in public housing.
The economy in Singapore is one of the most planned economies in the planet, its economic system is sometimes described a "State Capitalism" (China copied many aspects of Singapore's economic model...). -
Singapore is in many ways very liberal but the fact that it's a globalized, developed nation and people have restrictions on there freedom doesn't make a lot of sense. You think the people would have demanded change.
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Why is everything about gay sex these days? If they want to ban gay sex why should it be anybody's business?
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To understand Singapore, Westerners should have knowing first about the culture, tradition and philosophy of Easterners, not just using Westerners own perspective on everything about Singapore.
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