Establishing a Thriving Entrepreneurial Spirit in Government
Appendix 2: Singapore: The Lion City
Since its independence in 1965, Singapore has been studied from numerous economic, political and sociological perspectives attempting to understand its unexpected economic success. Singapore’s British colonial rule left a political impression on the people who are now governed by more of a unicameral parliamentary system. This decidedly authoritarian slant is, in some ways, contradictory to the cultural heritage of the natives. Critics of big government have been waiting for nearly five decades for Singapore to collapse or at least have substantial economic and social difficulties. The economy was impacted when China and other Asian tigers emerged as serious competition in the global market in the 1990s, and significant problems arose during the currency crisis in Asia in 1997. However, Singapore adapted to the changing environment, as other autocratic countries failed to do, and flourished. Despite the Western notion that democratic capitalism is the only formula for success, Singapore continues to prosper as one of the strongest and most fascinating economies in the world.
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