History Singapore
Since its inception, the Republic of Singapore has combined the fastest growth with the lowest inflation of any industrial economy. This feat was accomplished with a strict set of economic goals including a conservative monetary and fiscal policy, free trade, and a commitment to stable prices (Wood, 25). This evaluation of Singapore's economy will look at the history and forces behind their success. Singapore has approximately the area and population of the city of Chicago. The total land area is 239 square miles including 58 surrounding islets. It is separated from the mainland of Malaysia by the Johore Strait to the north. Across the Strait of Malacca and the Singapore Strait to the west and south of the island lies Indonesia. It is situated just 85 miles north of the equator making the climate a tropical one. (Deyo, 104). The population is entirely urban with "a strong manufacturing base, and active service sector, and virtually no agriculture" (Gregory, 261). There are virtually no natural resources (Woronoff, 122). Throughout its development, Singapore's population has increased at a blinding rate due to immigration and high birth rates.(Buchanan, 162).
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Approximate Word count = 2973
Approximate Pages = 12 (250 words per page double spaced)
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