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Singapore's Economy Evaluation

In translation from Malay Singapore is "The City Of Lion". Due to its scopes, it is "Disneyland for adults" (this term is based on the book by William Gibson, an American writer) and "City of prohibitions." In fact, it is an Asian city-state which is consists of 26 opulent islands.

The main features, besides economic development, are a fantastic number of harsh restrictions for visitors and local residents. A unique state has demonstrated vaporous growth since 1965. And soon it becomes the one of the twenty leading lands by citizen’s income. In 25 years the country's GDP reached a record level of $ 240 billion. It is the 4-th place in the globe with more than $50 000 per capita.

A government system and economy have been formed in early 1819. Thereat Singapore was uniting the Malays, Chinese traders, Indians, and English colonists. The reason for the economic recovery of “new Singapore” was a free port and also the trade center introduction. The economy is based now on a high level of religious and sex tolerance with the full economic freedom. Everybody can invest in high technology, the innovative potential here. But the authoritarian style of governing is still predominated here. It is connected with the actual need for ensuring a state security. It is prevented by the range of internal and external threats, as any other country (drugs, gambling, which are an inherent feature of many ports and free economic zones).

In 2007-2016, the World Bank in its abstracts placed Singapore in the top 10 countries by the efficiency of public administration and management, political stability, the control of corruption rates and the rule of law. Singapore is also ranked as a second state in the world by terms of business activity and total economic freedom.

But baseline data were rather sad. There was an acute lack of resources, the high dependence on Malaysia’s political will of the drinking water supply, corruption resistance. It seemed that the city-state has no chances to grow economically.

The first dictator had extremely rigid principles, but it was an effective fight against corruption. On this way, he led Singapore to sustainable prosperity. Today it is high developed country, the world’s leader in GDP and the level of effective consumption. And there is no inflation and unemployment.

The country did not immediately become a technology leader of the globe. Originally its economy was kept on refining and machine-building. Then they came to the more "pure" science-intensive products and financial services.

The financial sector is now the locomotive of the local economy. It is followed by shipbuilding, electronic manufacturing, IT, and pharmaceutics. Major partners of the country are Malaysia, Hong Kong, Indonesia, China, the USA, South Korea and Japan. The last 10 years, GDP is growing annually by 7%.

In translation from Malay Singapore is "The City Of Lion". Due to its scopes, it is "Disneyland for adults" (this term is based on the book by William Gibson, an American writer) and "City of prohibitions." In fact, it is an Asian city-state which is consists of 26 opulent islands.

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Assignment ID
100000090
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CREATED ON
June 19, 2016
COMPLETED ON
June 20, 2016
Price
$39
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Essay Example Comments
tejadajessica328
December 7, 2016
tejadajessica328
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malqhtan87
December 5, 2016
malqhtan87
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anthonyrubert81
December 4, 2016
anthonyrubert81
Work was excellent and was done on time. Great writer.