Singapore Economy Essay
Clement Zhe Xuan Yew
Singapore Economy 1960-1970 (10 years period)
Singapore is a country that without any natural resources, but the years between 1960-1984 annual GDP Growth 9%, and let it became one of the Asian economic "tigers". The factor made Singapore economy growth is because the government has played a very important role in the development of Singapore from a small island to a "tiger" in the Asian economy nowadays. During that time Singapore was Colonial Rule by England, also Singapore is a single economic structure, only entrepot trade, and doesn’t have any basic industries. After World War 2, Singapore's entrepot trade has fallen sharply. The Singapore famous economist stated that: We can't longer depend on entrepot trade, the first problem Singapore need to solve is unemployment, the second problem is to get rid of the over-reliance on entrepot trade settlement economic structure. Therefore, Singapore must take the path of industrialization. In 1960, Prime Minister Lee Kuan Yew and the finance minister formulated the economic direction: Maximize the performance of the existing entrepot trade and
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