Singapore : An Asian Tiger With A Booming Economy

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2015 marks the 50th anniversary of Singaporean independence in 1965. Then, Singapore was just another colony to break away from the dying embers of the British Empire, many of its people destitute and impoverished. Today, in only half a century, Singapore has become one of safest nations in the world, an Asian Tiger with a booming economy. This is due to the hard work and genius of the nation’s father and first Prime Minister, Lee Kuan Yew. Under his reforms, the economy flourished and the people were content. Although Lee’s government refused to relinquish control and were often aggressive, their smart legislation and benevolent rule was responsible for the growth of the nation. The key to Singapore’s development lay in the combination of…show more content…
At time of independence, for example, commerce and trade represented 32% of the Singaporean economy. As Lee Kuan Yew’s PAP government built the new nation’s economy through changes in macroeconomic policy and government reforms, Singapore’s strategic location and its trade legacy remained in his mind. This is evidenced by his trade and manufacturing based economic plan that transformed the city-state from a colonial port to a global metropolis.
Singapore’s multicultural ethnic makeup and Lee Kuan Yew’s policies establishing a national Singaporean identity played a vital role in establishing a peaceful society, the foundation for economic growth. Singapore contained many diverse ethnic groups, with different cultures and different languages. Lee Kuan Yew’s government did not believe that Singapore could peacefully “have many distinct components and be one nation.” Instead of promoting an American-style melting pot, Lee Kuan Yew proposed the creation of a uniquely Singaporean identity, “a man rooted in the cultures of four great civilizations but not belonging exclusively to any of them." Because Singapore is a diverse nation of immigrants, While Lee’s policies allowed citizens to retain their separate cultures and customs, they created a shared patriotism of Singapore. In 1965, Lee’s government created the Constitutional Commission on Minority Rights to dictate government policies that “encouraged ethnic and cultural diversity.” In order to respect the many
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