since i know singapore is a smallcountry which has no natural resourses but how come its economy so strong
2006-09-02 21:35:33 · 4 answers · asked by Anonymous in News & Events ➔ Media & Journalism
Hi,
The foundation to Singapore's strong economy can be attributed to its manpower. While it lacks natural resources, Singapore became the centre for manufacturing, which lends strength to its export-oriented economy.
Over the years, these hasn't changed, except that the focus has changed. From a manufacturing economy, it has progressed to technology and services. Keeping itself in line with the demands of the developed nations continues to strengthen its economy and the growth of its forex.
When Singapore manufactured goods are sold to other countries, the Singapore dollar is used for the sale. Hence, its currency is highly demanded.
Hope this helps.
2006-09-04 23:56:53 · answer #1 · answered by Benjamin T 3 · 0⤊ 0⤋
Supply and demand. Although the demand may be small compared to the vast amount of USD or Euro or Jpy, the supply is even smaller. A tiny drop in the big big ocean of foreign exchange. Plus, the tap of sing dollar is superbly controlled.
2006-09-04 20:43:39 · answer #2 · answered by Anonymous · 1⤊ 1⤋
a mix of tolitarian one party rule, discipline, chinese domination, paranoia & hatred of filipinos just like 1995 when they hanged a poor filipina OFW for a false reason..
2006-09-02 21:42:43 · answer #3 · answered by ianlopez1115 3 · 1⤊ 2⤋
good planning.
the "kiasu" spirit.
the competitors are too weak.
2006-09-03 17:59:13 · answer #4 · answered by halloween 2 · 1⤊ 0⤋