Singapore’s Economic Imperative
April 11, 2009 12:04 am Business, EconomyFormer Singaporean Prime Minister, Lee Kuan Yew, spoke recently at a convention concerning the necessities of smaller countries involved in the international economic world. He covered his philosophies on foreign relations and the absolute need of smaller countries to create and maintain relationships with larger, more prosperous and more powerful countries. He emphasized that the involvement with other countries are not based emotionally, nor even out of acts of goodwill, that it just the way that it must be to economically survive and remain of relevance. Larger countries he states, have much more freedom, geographically than smaller countries such has his own. For a country the size of Singapore to continue to exist, they must make as many allies as possible. He states as well that Singapore must remain independent and must constantly predict the ways of the future so as to better retain the difference necessary to remain important. For many years, the people, the advanced technology, and the ethics of business have ensured that Singapore remains to have something to offer to the rest of the world not commonly found in other countries. Five star businesses in Singapore, such as resorts and convention centers have remained prosperous and tourism grew and the international business world ventured to Singapore to learn the ways of the Singaporean workers.
He sites the example of the economic crisis in America currently. He believes that along with the resilience of the American people and the creativity of the current political leaders, that the relationship between China and the U.S. will serve to help the situation in America dramatically. The ‘friendship’ with China is important he says, as currently economic growth in China is stable and increasing by just about ten percent. So while it is true that the U.S is experiencing no growth, or sometimes a negative growth, they have sided with an economic giant and that consequences of that relationship will prove extremely beneficial for America and the years to come. For the continued success of Singapore he believes that creative and intuitive leaders must be one step ahead of the global market, to be able to not only notice trends, but to predict them. So that not only is Singapore there for the changes, but so that they are some of the ones leading the pack. In this way, Singapore will remain relevant, different, and independent.
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