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The Development of Singapore Essay

Project id 1002182
Subject area Self Improvement
Document type Essay
Words 1407
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Singapore is an island along with also a smallest country in Southeast Asia. Singapore is among the "Four Asian Tigers" where the planet leading freight seaport occurs. Despite the small size of the country, Singapore market have powerful international trade connection with capitalist mixed economy once the government intervention in the sector is minimal (Economy view, 2011). Considering that Singapore gained sovereignty in 1965 from Malaysia, its own politics was dominated by the People Action Party. Under the leadership of People Action Party, Singapore has a "different political culture: authoritarian, pragmatic, rational and legalistic." Economic growth and political stability were maintained by the People Action Party's guidance. Therefore, Singapore is corruption- free government where power has been gained through performance and skill which attracted investments from different countries ("Introduction to Singapore's political strategy", 2011). Singapore scored the point of 1.33 from the 2009 World Bank's governance indicators for the factor political stability. The authorities also opens a number of sectors such as financial services o, telecommunications, electricity generation, and retail to increase competition and international companies (eStandardsForum, February 2010). As it lacks of natural resources, Singapore should import mainly its sources from Malaysia especially fresh water. Malaysia also is the 2nd biggest export market after Hong Kong (11.6%). Other significant trade partners are United States, Indonesia, China, and Japan. The major exports are machinery and equipment (such as electronics and transport), consumer goods, chemicals, telecommunication apparatus, pharmaceuticals, and mineral fuels. With the activeness of the government in negotiating the eight free tra...

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