Singapore's Rapid Economic Development

These workers believe that they have a comparative advantage of Mandarin skills and Asian cultural understanding and can earn high salaries. Therefore, brain drain is inevitable. 3 Consistency inequality in high-income countries GDP records in Singapore have been high for many years, as is evident from the increase in incomes of the group in Singapore. The statistics department statistics show that the median monthly household wage income increased from $ 7,570 in 2012 to $ 7,870 in 2013 with a nominal growth rate of 0% and a real increase rate of 6%.

The rapid development of the Singapore economy has made the other countries of the Association of Southeast Asian Nations (ASEAN) filled with anger for Singapore. Because her wealth is the root of the "political paralysis" of this area. Indonesia and Malaysia are trying to change the dependence on Singapore's port. To make matters worse, the leaders of the abrasive industry in Singapore tend to make proposals that are not wanted. There is no doubt that ASEAN is important for Singapore. Singapore will benefit a lot, whether it is negotiating with the economics of developed countries or playing a greater role in international politics. Lee Kuan Yew's wise decision as the last ASEAN country to establish diplomatic relations with China reflects the future nature of Singapore's foreign policy. Any action taken by Singapore must be sensitive to the feelings of the neighbor.

The role of the financial system in Singapore's "economic miracle" is very big. According to the International Monetary Fund, Singapore's financial system regulation and regulation is the world's best. Regarding the degree of development of financial markets, Singapore is the second largest in the world. Singapore's highly diversified economy, prudent policy, and respect for the rule of law make Singapore the center of international finance. Strict management of compliance with "rules of game" is a solid foundation of Singapore's financial system. This stabilized the economy of the country during the 1998 crisis, proved that the financial system was formed in the world, never inferior to the systems of the first world countries.

Singapore is one of the best places to visit the world. Rapid economic development and business convenience attract many business owners and experts to Singapore. The Singaporean government guarantees that visa acquisition is simple and quick for professionals. Many tourists eventually migrate and live in the country. This city state is also a major tourist destination in South Asia and has many sightseeing spots. The main attractions of Singapore include the Esplanade Theater. If you do not visit the Esplanade, the trip to Singapore is not perfect. The Performing Arts Center is also known as the Esplanade or the Esplanade Theater.