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Singapore: Past Perfect, Future Tense?
Introduction
In September 2006, Singapore hosted the annual general meetings of the IMF and the World Bank. Rodrigo de Rato, Managing Director, IMF, said, "Singapore itself has long been one of the symbols of Asia's economic emergence. Its industrial achievements, sophisticated infrastructure, robust financial center, and the visible prosperity of its people serve as a welcome backdrop to our meetings."4 Singapore's rise as a regional hub began in the early 19th century, when it was a trading post for the British East India Company5. Singapore became a sovereign nation in 1959 and the first government of the independent country was led by the People's Action Party (PAP). |
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Later in the mid-1960s, after a failed unification bid with Malaysia, the Government of Singapore (GoS) charted a roadmap for the city state's transition from a developing economy to a developed economy. The GoS adopted a national industrial policy in the early 1960s and set up several industrial estates. Singapore started off as a low-cost manufacturing hub and the pro-business attitude of the GoS made it attractive to several MNCs. Singapore's strategic location in the Asia-Pacific region also helped it become a major transit point, both for sea and air traffic....
Introduction Contd...- Next Page>>
