which also increases the potential economic growth. Photo: ministry OF communications AND information. "We should work with it and hope they will be able to work something out which will be in the long-term interests of the US and the region, which will mean is good for Singapore and I think will be good for Australia he added. Prime Minister Lee Kuan Yew could say without the harbor, we would not be half ourselves. Singapore needs to make sure that it broadens its product and service offering to include higher valued products like financial services. Singapores ratio is sitting at 326 (as recorded in 2015) which includes exports of mainly electronics, chemicals and services. Furthermore, having long ago replaced Britain as guardian of the global seas, we have a strong strategic interest in ensuring open passage through the Straits. Source: Thinkstock/Getty Images, having a high trade to GDP ratio means that the countrys GDP consists mainly revenue generated from exports and imports.
The term globalisation has been used to focus on the more economic side of the world including trade, communications, foreign investment and international capital flows. "We are happy to see China prospering, we are happy to see China playing a constructive and positive role in the region. Singapore must continue to work with like-minded partners the report said, including "less traditional" ones. Two, there must be organisations that run efficiently, "not just automating your own way of doing things, you may have to restructure all together". The report also targeted increasing commercialization of the government's investments in research and development.
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