Singapore Economics

Paper Summary:

This paper discusses whether Singapore's unique blend of state-branded capitalism can survive the 21st century's market forces. It explains how others view Singapore's woes as an acute reflection of worldwide economic woes that were already bad before the morning of September 11th. To determine which of these conclusions is valid, the paper takes a detailed look at the island's economy and government.

From the Paper:

"According to the Economist, Singapore never really recovered from the Asian crisis of 1997. Its short recovery was followed by another recession, and in 2001 its economy shrank by 2%. Growth for 2002 was at a mere 2.2% (Economist, 3/19/2003) Growth estimates for 2003 are higher at 2.6%, accelerating to 5.3% in 2004 as the global economy is expected to recuperate. (Economist, 4/25/2003) The 2.6% forecasted rate reflects the recent outbreak of the SARS virus, before which estimates were optimistic at 3.1%. SARS has affected both regional and international travel, which has severely affected the Singapore government as it owns the state airline in addition to collecting revenues from activities related to trade."

More papers on Singapore Economics:

• Essay # 89868 : "Economic Growth in Singapore and Hong Kong"
• Research Paper # 96652 : "Industry in Singapore"
• Analytical Essay # 119805 : "Political and Economic Analysis of Singapore"

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