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China has its embassy on Tanglin Road in Singapore, while Singapore's embassy in Beijing on Jianguomen Wai Avenue, Chaoyang District was established in 1990, [39] and it has Consulates-General in Chengdu, Guangzhou, Shanghai, and Xiamen, as well as Hong Kong, known during the era of British rule as the Singapore Commission.
Both Hong Kong (the Special Administrative Region of the People's Republic of China) and the Republic of Singapore are former British colonies which have maintained trade relations since the 19th century, and have both become an important financial centre, maintaining diplomatic missions and trade offices to further their bilateral relations.
Singapore maintains diplomatic relations with 189 UN member states. The three exceptions are the Central African Republic, Monaco and South Sudan. [citation needed]Singapore supports the concept of Southeast Asian regionalism and plays an active role in the Association of Southeast Asian Nations (ASEAN), of which it is a founding member.
Singapore, its long-time regional rival, came in first as its score held steady compared to last year.“Hong Kong’s economy was rated the freest in the world from 1995 through 2019.
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, transforming the living standards of the population. [253]
Hong Kong and Singapore have become leading international financial centres, whereas South Korea and Taiwan are leaders in manufacturing electronic components and devices. Large institutions have pushed to have them serve as role models for many developing countries , especially the Tiger Cub Economies of Southeast Asia.
In London-based Tortoise Media’s Global AI Index, which assesses AI capability in 62 countries across more than 100 different metrics, Singapore ranked third behind only the U.S. and China.
The Four Asian Tigers (a.k.a. the Four Asian Dragons or Four Little Dragons in Chinese and Korean) are the developed Asian economies of Hong Kong, Singapore, South Korea, and Taiwan. Between the early 1950s and 1990s, they underwent rapid industrialization and maintained exceptionally high growth rates of more than 7 percent a year.