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Singapore is positioning itself as the region’s financial and high-tech center.
Singapore’s economic strategy proved a success, producing real growth that averaged 8.0% from 1960 to 1999. The economy picked up in 1999 after the regional financial crisis, with a growth rate of 5.4%, followed by 9.9% for 2000. However the economic slow down in the United States, Japan and the European Union, as well as the worldwide electronics slump, followed closely with a 911 attack in the heart of New York had reduced the estimated growth in 2001 to a negative 2.0%.
The economy expanded by 2.2% once again the following year, 2002 and by 1...
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Common topics in this essay:
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