This section contains 595 words (approx. 2 pages at 300 words per page) |
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From Success to Turmoil: The Economic Crisis in Singapore
Summary: From Success to Turmoil: The Economic Crisis in Singapore discusses the economic changes in Singapore during the late 1990's.
Since its independence, Singapore has been a symbol of organization and success, especially economically. These days, however, the big news around town is about the economic downturn of the Southeast Asian region. Singapore grew at 7.8% in 1997 - a tremendous amount considering that the goal of the United States is no more than 3% per year. In the past quarter (third quarter), the Singapore economy shrunk by 1.5%. If the fourth quarter also shrinks, it will be considered a recession. The 1.5% decrease was the first contraction in 13 years, again, a tremendous feat. Even the unemployment rate has crept up from only 2.3% to 4.5% in September and is expected to approach 7% in 1999. The recent economic collapse of many of the Southeast Asia nations has hurt Singapore for several reasons. As a major port, a tremendous amount of trade from countries like Indonesia and Malaysia come...
This section contains 595 words (approx. 2 pages at 300 words per page) |
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