Singapore policy asian crisis
English , Malay , Chinese Mandarin , and Tamil. English is the primary language. English is the second most commonly spoken language among Singaporeans. Most of the rest of the people speak it as a second language. However, English has the largest total number of speakers including native and second language speakers. Mandarin Chinese is the second most common.
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Singapore’s government embroiled in domestic crisis management
Asia Journalism Fellowship | Temasek Foundation International – Institute of Policy Studies
It began with an open and vocal stoush with China. While Lee did not attend the Forum, he later led high-level delegations to both Beijing and Washington, successfully recovering much lost ground. This position puts Lee on the front line of regional attention. Recovering lost ground in foreign policy might be a modest achievement. But domestically, the government is in a state of perpetual crisis management interspersed with misguided political judgements.
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1997 Asian financial crisis
Thailand's economy developed into an economic bubble fueled by hot money. More and more was required as the size of the bubble grew. The same type of situation happened in Malaysia and Indonesia, which had the added complication of what was called " crony capitalism ". Development money went in a largely uncontrolled manner to certain people only - not necessarily the best suited or most efficient, but those closest to the centers of power.
Economic history[ edit ] Upon independence from Malaysia in , Singapore faced a small domestic market, and high levels of unemployment and poverty. Meanwhile, Singapore's savings and investment rates rose among the highest levels in the world, while household consumption and wage shares of GDP fell among the lowest. However, much unlike the economic policies of Greece and the rest of Europe, Singapore followed a policy of individualising the social safety net. This led to a higher than average savings rate and a very sustainable economy in the long run. Without a burdensome welfare state or its likeliness, Singapore has developed a very self-reliant and skilled workforce well versed for a global economy.
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