A presentation of a global business plan for Singapore’s economy.
This paper discusses the historic perspective on the economic, political, cultural, and regional interrelationships of Singapore, as well as global interrelationships. The regional economic alliances and the economic development stage of Singapore to potential business opportunities are also be reviewed. The final topics discussed are the major drivers of globalization in Singapore and the role of this country within the regional organizations of which it is a member.
Singapore is a highly developed and successful free market economy, enjoying an open and corruption-free environment, stable prices and one of the highest per capita Gross Domestic Product in the world. Singapore’s economy depends heavily on exports, particularly in electronics and manufacturing (cia.gov). During the last three decades, Singapore’s booming economic growth largely outperformed the world economy. Some of Singapore’s export partners include the U.S., Malaysia, Thailand, South Korea and Hong Kong. Specifically, Malaysia is a large import and export partner to this county. One of the country’s international disputes was with Malaysia over deliveries of fresh water to Singapore. However, as a transportation and financial services hub, Singapore is vulnerable to be used as a transit point for Golden Triangle heroin and as a venue for money laundering (cia.gov).