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The Singapore's Economic Model - Essay Example

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This essay "The Singapore's Economic Model" is focused on the history and economic situation of Singapore. It is stated that at a time when Singapore gained independence, it was a poor and a small country, which had to import even building sand and fresh water. …
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The Singapores Economic Model
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The Singapore's Economic Model

Download file to see previous pages... Upon receipt of independence from Malaysia, another main task of the government was to show foreign investors that at the moment new-independent state is a safe place to invest and storage their capital. The government not only introduced changes to the laws of their country but also showed a willingness to destroy corruption and worker unrest. Thus, it guarantees complete safety of the property of investors that are attracted spiritual prosperity of capitalism.Further, a small country that can offer only the hard-working people, has developed a plan to win the confidence of international partners. While Singapore cannot take a certain place in the international market such as Hong Kong, which relied on the support of the Bank of England. To avoid the risk of devaluation and inflation, the government carefully defines the priorities of implementation of each economic plan. It has conducted a number of economic disciplines, thanks to which in 1997 (during the crisis) Singapore can stand out as an island of stability in a sea of inequality.The Singapore government stubbornly fought against corruption, from which the country suffered from the acquisition of independence. While it could be said that corruption was practically part of the lifestyle of Asian people and they openly took bribes and various fees. To prevent corruption, the government has chosen a way to simplify the various procedures for decision-making and create new simple laws and rules that had no ambiguity. ...Download file to see next pagesRead More
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