The Genesis of Singapore's Economy
Keywords:
Singapore, development, foreign trade, innovation, investmentAbstract
The purpose of the article is to study the process of formation and development of the Singapore economy. The study used well-known economic analysis methods. Singapore's transition from traditional trade to trade in high-value-added services was achieved within the framework of four major stages, each of which opened a new page of development. Digital economy, computer programs, information and communication technologies, artificial intelligence, green economy, etc. they have firmly entered into all spheres of the company's activities. High-tech products have become the most important export item of a country whose GDP is increasingly dominated by services. Foreign trade, investment and innovation have made Singapore an international trade and financial center. In conclusion, it can be noted that against the background of great success, Singapore is not without problems. Their solution lies in the adoption of an effective policy to maintain stability and sustainable development in various sectors of the economy.
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