Learn about the history of this nation, considered the fourth richest in the world.
Nowadays, Singapore is the fourth richest country in the worlddue to the great purchasing power that its inhabitants have. However, to become what it is today, it had to go through moments of crisis and extreme poverty, until the arrival of a person in power was a before and after in the history of the country.
It’s hard to believe that Singapore today and Singapore a few centuries ago are the same place. While today it is surrounded by skyscrapers, millionaires and private jets, Previously it was just a poor island with very few natural resources.
The history of Singapore: independence and a period of poverty
A little more than half a century ago, Singapore was a colony of the United Kingdom since 1824. It had high unemployment ratessocial instability, malaria, opium addiction and low-skilled labor. Then, in 1963, it achieved independence from the British colonies but joined the Federation of Malaysia.
However, everything changed when In 1965 they managed to separate definitively to start from scratch as an autonomous state. At that moment was when the person who would lead the so-called “economic miracle” of Singapore appeared: Lee Kuan Yewwho was prime minister of the country for more than 30 years. Several specialists say that one of the reasons why Singapore grew so much was that The country’s development process began at the same time as other Asian countries did..
The history of Singapore: how it became one of the richest countries in the world
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To start, the prime minister laid out a rigorous plan to get Singapore out of what he described as the cesspool of misery and degradation. Being located in a strategic geographic area with a large population and growth, it became a key route for commercialization between countries more developed like China and India.
Coming back from extreme poverty was a difficult and ethically questionable process, since, although there were several employment and aid programs for the population, other of their social policies were related to a strong control over private life and individual freedoms. In fact, they even controlled the manners and cleanliness of the population’s homes. Furthermore, since Lee Kuan Yew came to power there have only been three prime ministers. However, although it was a difficult process, it achieved a high level of education, health and economy.
Another reason Lee managed to keep Singapore afloat was because He dedicated himself to fighting corruption in the country until it was completely eliminated. However, in the late 90’s it became a global financial center thanks to its location, the population’s English and Chinese language skills, and its extensive industrialization. He also invited foreign investors to move to the country so that capital can be managed freely.
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
