Strengths And Weaknesses Of Singapore
Our rating of Singapore as a global city [1][2]:
Singapore has a strong global status but still has some flaws that back it from ranking in the top 5 cities in Global Cities Index. According to the below strengths and weaknesses we would rate it 8.5 on a scale of 1 to 10.
The strengths that Singapore has as a global city include its strong infrastructure, institutions and high quality of government officials. Policymaking is effective and adequately responds to risks and shocks. Furthermore, the business environment is highly friendly and competitive: first place in the Ease of Doing Business ranking (since 2007) and second in the Global Competitiveness Report (since 2011-2012).
Also one of its strengths is its very healthy public fiscal stance. Government debt is only issued to provide a benchmark rate and absorb monies from the obligatory central pension fund, rather than to finance expenditure. Issuance proceeds are invested and only 50% of net returns can be used for expenditure. Public net financial assets are very large.
Moreover it has strong international creditor position. The net international investment position (228% of GDP, 2012) and international reserves (95% of GDP: 6-7 months of imports, 2013) are very large. As such, the risk of a balance of payment crisis is negligible and the scope for monetary policymaking, which targets the exchange rate, large.
Other strengths include:
• Development of high added value sectors (chemicals, pharmaceuticals, finance)
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