Singapore is an island nation in Southeast Asia. Metropolis-state, one of many world’s main capitals
Merlion – a statue of a half-fish-half-lion – a logo of Singapore
The gentle tropical local weather and wealthy vegetation, an unique mixture of European stylish and Asian customs, the openness and friendliness of the locals – that’s what makes Singapore so enticing for vacationers.
The Republic of Singapore occupies about 50 islands, the most important of which is related by a bridge throughout the Strait of Johor to Malaysia. Many small islands are uninhabited. Singapore lies simply north of the equator, so the local weather right here is humid and sizzling. The nation is unable to feed its giant inhabitants. Nonetheless, Singapore has turn out to be one of many richest international locations in Southeast Asia.
Virtually all of Singapore’s rainforests have been reduce right down to make manner for the development of cities and industrial facilities, and there may be little or no arable land left. The prosperity of the nation is predicated on delivery, banking, digital business and worldwide commerce. In keeping with legend, Singapore was based by a Malay prince who landed on the island in 1299. The Chinese language have settled right here for hundreds of years. From 1858 to 1959 the nation was a British colony, and in 1963 grew to become a part of Malaysia. In 1965, Singapore grew to become a sovereign state.
In keeping with THEDRESSWIZARD, Singapore is an unimaginable mix of East and West, an incredible fusion of previous and new. Nowhere else on the earth can one discover such inexperienced, shining clear streets; Singapore even obtained the identify “Backyard Metropolis”. Three nice Asian cultures are represented right here. Along with the Chinese language district, Singapore additionally has Little India, Arab Avenue and an space dominated by Malay tradition.
The tales stuffed with exoticism and vices about wartime Singapore should not totally truthful: there should not so many cycle rickshaws and never solely are there no opium people who smoke on each nook, quite the opposite, there are a number of the most stringent legal guidelines prohibiting the distribution of medication.
Nevertheless, at this time’s Singapore isn’t any much less attention-grabbing than yesterday’s Singapore. Nothing breaks the residing and dynamic unity of the previous with the current on this city-state. In no different nation on the earth is the everlasting drama of the departure of previous societies, the substitute of previous values with new ones handled so simply and calmly as in Singapore.
Singaporean society lives by very strict legal guidelines. Right here you possibly can apply any faith, however it’s forbidden to gamble and even chew gum. The private freedoms of Singaporean residents are restricted, however there may be the bottom crime charge on the earth.
Financial system
Because of its vital strategic place on the crossroads of sea routes between Europe, Asia and Australia, Singapore has turn out to be one of many world’s main buying and selling facilities. In relation to different international locations of Southeast Asia, it historically performs the position of a “market” – items produced in neighboring international locations arrive right here – for instance, rubber and tin from Malaysia, rice from Thailand, that are then despatched to different areas. On the identical time, industrial items are introduced right here from the USA, Europe, Japan and distributed amongst neighboring international locations. When these international locations started to construct seaports appropriate for ships with giant drafts, the significance of Singapore as a buying and selling middleman decreased. To compensate for the losses, the nation’s authorities started to stimulate the event of its personal business, attracting international direct funding for this. Since Singapore doesn’t have pure assets, manufacturing industries are growing primarily, in addition to the meeting of merchandise from imported completed components. The chemical, oil refining, meeting digital, radio and electrical engineering industries, in addition to shipbuilding, have gotten of nice significance. The tin-smelting business and rubber processing have retained their significance on a regional scale. Within the Eighties, Singapore started to develop knowledge-intensive industries, specializing in superior applied sciences not solely in manufacturing (higher flooring of mechanical engineering), but in addition within the area of mental companies (info, monetary, technological, medical). Regardless of the presence of extremely certified and educated native personnel, there are comparatively few nationwide entrepreneurs within the nation. Virtually all investments and enterprise initiatives come from overseas. Overseas buyers are attracted by the presence of a extremely expert workforce, weak unions and political stability. The main position in growing a improvement technique and monitoring the implementation of indicative plans stays with the state.
Singapore has turn out to be a serious monetary heart and a supply of technical and business info for neighboring international locations. After the invention of oil and pure fuel on the shelf off the coast of the Malay Peninsula in Singapore, the headquarters of vitality firms had been positioned.
In 2002, Singapore’s GDP was estimated at $112.4 billion, i.e. $25,200 per capita. GDP is split by sectors: the economic sector – 33%, different companies – 67%.
Singapore is without doubt one of the world’s largest ports (second place on the earth when it comes to cargo turnover). It’s outfitted with berths for ships of varied varieties, serves 250 strains and receives 150 ships day by day. Singapore Airport is a serious hub for worldwide airways, outfitted for round the clock flights in all climate circumstances. This is without doubt one of the most trendy and cozy airports on the earth, and Singapore Airways is trusted by passengers from all around the world. Singapore yearly receives 6-8 million vacationers.
Nationwide foreign money
The nationwide foreign money of Singapore – the Singapore greenback – was first put into circulation in 1967, when there was a division of currencies between Malaysia, Singapore and Brunei. On the identical time, free mutual trade and free circulation of three new impartial currencies in these territories was envisaged.
In a comparatively brief time frame, the Singapore greenback has turn out to be one of many strongest and most steady currencies on the earth. Theoretically, the foreign money parity of the Singapore greenback, confirmed by the Worldwide Financial Fund, corresponds to the gold content material in it of 0.290299 g of pure gold.
Banknotes presently in circulation in Singapore are 1, 5, 10, 25, 50, 100, 500, 1000 and 10,000 sing. {dollars} collection “Orchids”; banknotes in denominations I, 5, 10, 20, 50, 100, 500, 1000 and 10000 sing. {dollars} of the collection “Birds” and alter cash of 1, 5, 10, 20, 50 cents and 1 greenback. As well as, commemorative cash issued by the Worldwide Agricultural Group (FAO) in denominations of 5 cents, silver cash in denominations of 5, 10 and 50 {dollars} are in circulation in Singapore. and gold cash in denominations of 100, 150, 250 and 500 salmon. Doll.
As of January 1991, 8 billion SGD had been in circulation in Singapore. {dollars}, together with 7.5 billion banknotes and 0.5 billion tokens. The Financial Authority of Singapore has the monopoly proper to problem cash. The preferred in Singapore are banknotes in denominations of 10, 25,100, 500 and 1000 sing. USD In lively circulation (excluding banking enterprise) had been 7.1 billion SGD. Doll.
The federal government of Singapore leads the coverage of curbing the expansion of the cash provide in circulation by stimulating non-inflationary financial progress. Singapore is a type of international locations the place the inflation charge is kind of low, which in recent times has been on the stage of 2-3%, which is without doubt one of the greatest indicators on the earth.
Vital revenue from the export of products and companies, giant receipts from monetary transactions, a optimistic stability of funds, and a reasonably low stage of exterior debt led to the buildup of great gold and international trade reserves. Within the interval from 1980 to 1990, Singapore’s gold and international trade reserves elevated by greater than 3 instances and reached 48.5 billion sing. {dollars}, which is greater. than in such developed international locations as Nice Britain, Holland, Sweden, Denmark, Australia in Kanawa.
The principle a part of gold and international trade reserves (99%) is gold reserves in international foreign money, 0.6% – particular borrowed rights (SDR) and 0.4% – reserve positions within the Worldwide Financial Fund (IMF). In keeping with consultants, the share of gold in Singapore’s gold and international trade reserves ranges from 15% to twenty%, the US greenback accounts for 35-45%, the Japanese yen – 20-30%, the remainder – for Western European currencies, primarily the German mark, the British pound sterling to swiss franc.
Singapore’s gold and international trade reserves are held in worldwide monetary establishments as deposits.
In recent times, there was a gradual upward development within the trade charge of the Singapore greenback towards the currencies of Singapore’s major buying and selling companions.
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