Singapore, officially the Republic of Singapore, is a country located in south-east Asia. It has four official languages English, Tamil, Malay, and Chinese. Singapore fought for independence in 1965 from Malaysia. Prior to Maylasia’s control, both Britain and Japan colonized and took control of Singapore. As of now, Singapore is controlled by a parliament under the Constitution of Singapore.
The economic globalization of Singapore started during the early 1900s with World War 1 and World War 2. Early on Singapore was a commercial and economic hub for both greater Southeast Asia and the British Empire. Singapore was under Japanese occupation from 1942 to 1945 where it was a war zone during the second world war. After 1945 Singapore was returned to the British Empire and stayed under its control until 1963. When Singapore gained independence from Britain there were economic losses. Without the British Empire, Singapore wasn’t used as an economic hub any longer. In an effort to reinstate itself as an economic power, it joined forces with Maylasia in 1963. However, in 1965 it left and began to build economic stability as its own republic.
The history of Singapore is very complicated between colonizers and great political forces demanding power over the land. The economic globalization set Singapore up to become the economic power it is today. After it gained independence it quickly rose to power with now one of the fastest-earning GDPs the International Bank has seen. Leading the path of technological advancements in transportation and infrastructure, many claim that Singapore is an economic success.
Recent News of Singapore’s Economic Standing
The Edge Singapore, a local news outlet, informs the world that Singapore is on the up even with the international economic crisis that has begun post-pandemic. Even though it’s become increasingly more expensive to live and function in Singapore, the nation is leading the way out of the global economic crisis by being optimistic about its future.
XOXO, V
Sources
Singapore: The Reasons Behind Its Economic Success (ehl.edu)
Singapore’s Economy – Most Open Economy in the World (3ecpa.com.sg)
Singapore Overview: Development news, research, data | World Bank
Singapore gives economic optimists some succour (theedgesingapore.com)
What to learn more about Singapore? Here are a few local news sources
The Straits Times – Breaking News, Lifestyle & Multimedia News
Latest news in Singapore and around the world – TODAY (todayonline.com)