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Singapore has a highly developed market economy, based historically on extended entrepôt trade. Along with Hong Kong, South Korea, and Taiwan, Singapore is one of the Four Asian Tigers, and has surpassed its peers in terms of Gross Domestic Product (GDP) per capita. Between 1965 and 1995, growth rates averaged around 6 per cent per annum ...
[18] [19] Singapore is one of the oldest locations where a Chinese community is known to exist outside China, and the oldest confirmed by archaeological and historical research. [ 20 ] By the 14th century, the empire of Srivijaya had already declined, and Singapore was caught in the struggle between Siam (now Thailand ) and the Java-based ...
This is an accepted version of this page This is the latest accepted revision, reviewed on 20 January 2025. Economy of Singapore Skyline of Singapore's Downtown Core Currency Singapore dollar (SGD/S$) Fiscal year 1 April – 31 March Trade organisations WTO, APEC, CPTPP, IOR-ARC, RCEP, ASEAN and others Country group Developed/Advanced High-income economy Statistics Population 6,040,000 (2024 ...
The history of the Republic of Singapore began when Singapore was expelled from Malaysia and became an independent republic on 9 August 1965. [1] After the separation, the fledgling nation had to become self-sufficient, however was faced with problems including mass unemployment, housing shortages and lack of land and natural resources such as petroleum.
One of Lee's most urgent tasks upon Singapore's independence was to address high unemployment. Together with his economic aide, Economic Development Board chairman Hon Sui Sen, and in consultation with Dutch economist Albert Winsemius, Lee set up factories and initially focused on the manufacturing industry. Before the British completely ...
This is an accepted version of this page This is the latest accepted revision, reviewed on 17 January 2025. Country with a developed economy and infrastructure "Industrial nation" redirects here. For the magazine, see Industrialnation. Not to be confused with Developing country. For the investing classification, see Developed market. Developed countries (IMF) Developing countries (IMF) Least ...
Singapore is a parliamentary republic in the Westminster tradition of unicameral parliamentary government, and its legal system is based on common law. While the country is de jure a multi-party democracy with free elections , the government under the People's Action Party (PAP) wields widespread control and political dominance .
The establishment of a British trading post in Singapore in 1819 by Sir Stamford Raffles led to its founding as a British colony in 1824. This event has generally been understood to mark the founding of colonial Singapore, [1] a break from its status as a port in ancient times during the Srivijaya and Majapahit eras, and later, as part of the Sultanate of Malacca and the Johor Sultanate.