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nce. Many investors around the region have their money
parked here. The Singapore Exchange (encompassing Forex & St
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ock Exchange) turnover has increased over the years to rival those of Hong Kong,
Tokyo, London & New York.
The government's initiative to gear its manufacturing industry into contract manufacturing & semi-conductor fields have yielded large foreign reserves for
the country. It's coffer of savings is one of the highest in the world, after Japan & Taiwan. So, for an island with such a young population, Singapore has
certainly done well by any standard!
One major concern about this country is its aging population. Singapore is currently taking steps to prepare for this by importing many foreign talents to
deal with its high-growth economy (averaging 9-10% p.a.). Hence, you'll see many Australians, Americans & Europeans working in Singapore. Many
westerners (outside the country) have the belief that the government interferes much and there's really no true democracy in Singapore. But, who
better than the citizens & voters themselves should decide as to what form of governance they want/need. Perhaps, the one party (a strong one for
that matter) does have a strong influence on what kind of changes that are being filtered through, but at least it's not one that is corrupted! My View:
leave the voters to decide for themselves. As an outsider, we are here only to enjoy the modern infrastructure and distinctive flavors of the country. Not
necessary to get oneself into unfruitful alliances or even enemies for that matter.
So, let's begin the trip to this tropical island on the equator. FOOD! Whew, you sure get a variety here. So much so that eating has been a fanatic
pasttime. Chinese, Malay, Indian, Italian, French, German, Russian, Brazilian, Korean, Thai, Indonesian, American, etc... you name it, they have it!
SHOPPING! Get your gears; electronic ones I mean. But one thing you don't buy is a car... Whoa, the most expensive in the world! (For your info, buying
one car here is equivalent to buying 5 in the U.S.!!!) Especially for a country that has the most advanced & convenient transportation system in the
world! Public transport is as efficient & compelling. Stay clear of peak hours & you'll have a very smooth ride!
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$$$ & SENSE:
The pride of this tiny country (which simply made up of 3+ millions whose
ancestors were immigrants from China) is its successful flagship Singapore Airlines
& its cultivation of orchids (which incidentally is also the national flower). Both of
these successes bring in lots of foreign reserves for further developments.
Other than these 2 exports, Singapore is also the financial center of South East
Asia (SEA). It boasts the largest & most advanced banking & financial systems in
this part of the world.
Another successful story is the Port of Singapore. It is also the largest container
port in the world (in terms of TEUs handled)! In addition, its Changi International
Airport is said to be the best airport in the world too!
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Fact File - The World Factbook
- Capital: Singapore.
- Area: 692.7 sq km.
- Population: 4.5 million.
- Nationality: Singaporean.
- Ethnic Groups: Chinese 76.8%, Malay 13.9%, Indian 7.9%, other 1.4%.
- Languages: Mandarin 35%, English 23%, Malay 14.1%, Hokkien 11.4%,
Cantonese 5.7%, Teochew 4.9%, Tamil 3.2%, other Chinese dialects 1.8%,
other 0.9%.
- National Holiday: National Day, Aug. 9 (1965).
- GDP Per Capita: US$28,600.
- Currency: Singapore Dollar (SGD) = 100 cents.
- Internet TLD: .sg.
- Country Calling Code: 65.
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Synopsis
- Claims to have the best airport (Changi) & most profitable airline (SQ) in the
world. Also the first airline to fly the upcoming Airbus 380, largest commercial
aircraft in the world.
- The financial & medical center of South East Asia.
- Known as a fine city both literally & figuratively. Lots of fines for all kinds of
offences (such as no loitering, no smoking & drinking/eating in the subway
trains & train stations).
- Car ownership is one of the very most expensive in the world. One has to buy a
COE (certificate of entitlement) b4 one can own a car. It ranges from S$10000
to S$50000 depending on demand & supply.
- The name Singapore refers to the country, the city & also the island itself.
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News
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Multimedia
- Flight of the A380 [Video] (CNN) - 1st flight on top the largest commercial
aircraft in the world from Singapore to Sydney.
- First Class Desires [Video] (CNN) - Would you pay $100k for a 7 hour flight?
No? Someone did!
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