How Did Singapore Become So Rich? Singapore’s Economic Secrets

The Economy of Singapore’s GDP per capita grew over 125 times since independence, to become a high income nation. Rarely in the history of humanity has a nation travelled the path from poverty to riches so quickly or completely. But how did Singapore do it? What are the secrets to Singapore’s success? To understand the economy of Singapore, we must briefly look at its history. Singapore got its start in life as a venture of the British East India Company in the early 18th century, due to its strategic location between India, China and South East Asia. By the late 1800s it had been fully incorporated as a crown colony of the British Empire, becoming an important naval base in the far east. The stability and infrastructure provided made the island an attractive option for migrants, with the island’s population growing rapidly. --REFERENCES-- #Singapore #SingaporeEconomy #Economics ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ Enjoyed the video? Subscribe here: Follow AltSimplified on Social media: Website: Facebook: Twitter: Discord: ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ 📕Recommended Reading: Many have asked what we’d recommend to start reading, so check out the links below. They are affiliate links, but come at no extra cost to the viewer, you’d just be supporting the Channel if you used them. 📘“How Asia Works: Success and Failure“: 📘“The Ascent of Money: A financial History of the world“: 📘“Debt: The First 5000 years“: 🎙The mic we use to record: