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Hello friends, Singapore is a tiny country, but still, it managed to become an Asian economic hub. 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 traveled 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 Southeast 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. And you know what? Singapore is the only country to become slum-free in the world. In fact, it got its independence in the year 1965, still leaps and bounds ahead of India. Don’t you wanna know how Singapore was able to achieve this feat? Well, stay tuned throughout to know more in our today’s video.
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